QED Connect's JV Partner, Sofame Technologies, Has Won the Support of the Canadian Center for Excellence in Energy Efficiency
MANCHESTER, N.H., July 21, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC: QEDN), a New York corporation ("QED Connect"), today announced that its partner in Sofame Energy, Sofame Technologies Inc. ("Sofame Technologies") (TSXV:SDW), has received a powerful endorsement from the Canadian Center of Excellence in Energy Efficiency (C3E).
C3E has approved an investment of $301,500 in the form of a debenture that is part of a proposed round of debt financing totalling $1 million. Proceeds will be used to finance marketing of Sofame's innovative industrial water heating and heat recovery systems. The financing agreement also includes an option for C3E to acquire carbon credits generated by Sofame's systems. The center promotes projects that advance the development of energy efficiency and renewable energy in buildings, industrial processes, communications and information technology, bio-industries and transportation.
According to Mr. Yvon Brousseau, C3E's Chief Executive Officer, "Sofame's innovative heating systems are a distinct step forward in responsible energy management for institutions. Sofame has demonstrated engineering innovation by providing heat recovery solutions that have proven to be cost effective, reliable and with significant efficiency results."
John Gocek, Sofame's President and CEO, added, "This new recognition of Sofame's past achievements by experts in the energy efficiency arena, coupled with the financial assistance and marketing support, is an extraordinary opportunity for Sofame."
Tom Makmann, QED's President and CEO, commented, "Sofame is well positioned to capitalize on the market for Sofame's technology, especially in today's current economic and ecological environment. The commitment by C3E represents a significant step for our Joint Venture (JV) partner, Sofame Energy, putting them in a stronger position to increase business in the US this year. QED, per the terms of the JV Agreement, realizes profits proportionally."
The U.S. green building market value is expected to balloon to $163 billion by 2015, up from $71 billion in 2010, according to McGraw-Hill Construction Data, the leading U.S. aggregator, reporter and analytics source for the construction industry.
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company seeks businesses with strong potential which QED can assist in achieving their plans and realizing their maximum potential. This business model achieves the Company's goals and expands its overall revenue and profits and diversifies through entry into the multiple market segments. It is QED's intention to help its partners and subsidiaries realize growth, and that growth would, in turn, enhance QED's ability to increase shareholder value. www.qedconnect.com
About Sofame Technologies Inc.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information: www.sofame.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund QED's overall expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its Joint Venture with Sofame and to fund QED's growth, generally ; (iii) successfully obtain and fill potential Joint Venture product orders; (iv) generate sufficient revenue and efficiently manage operations to obtain profitability ; (v) competitive factors and developments beyond the Company's control; and (vi) other risk factors.
SOURCE QED Connect, Inc.