DELTA, BC, June 14 /PRNewswire-FirstCall/ - George Graham, President of ATI AirTest Technologies Inc. ("AirTest", TSXV: AAT) is pleased to provide the Company's shareholders with an update on current business activities here at AirTest.
In the second quarter we have seen some very strong new business emerging which will have a positive impact on results going forward. The use of CO2 sensors for demand controlled ventilation (DCV) in variable occupancy buildings is a rapid growth phenomenon. This is due to several factors such as;
- The recent emphasis on energy efficiency by governments, businesses and individuals. - Increased awareness of the advantages of implementing DCV. - Improvements in sensor technology, and the lower cost of that technology. - The advent of the Green or Sustainable Building programs including the LEED certification program which offers credits for DCV as well as outdoor CO2 measurement.
With the growth in CO2 sensor sales, AirTest now has orders on hand that total in excess of $1,000,000 including some blanket orders that are being filled by monthly draws. Some of the larger applications include;
- A national pharmacy chain - 100 sensors per month to retrofit 20 per month of their 1450 stores. - Major department store chain - 100 sensors per month to retrofit the first 200 of their 1650 stores. - Theatre chain - 50 duct mount sensors per month to retrofit 80 of their theatres in California. - Building Management Controls manufacturer in Kansas City - installs 75 CO2 sensors per month in their controllers. - Large greenhouse wholesaler - 910 sensors in June, 600 per month ongoing for CO2 control in greenhouses through their 200 retail outlets. - Centennial Building - Calgary - 248 CO2 sensors for DCV - Teachers Federation Building - Surrey - 184 CO2 sensors for DCV
Because most of the sensor components of the AirTest transmitters come from Europe, the Company has enjoyed some significant cost reductions due to the fall off of the Euro against the North American dollar. This fact greatly assists AirTest to take advantage of the current trend to save energy using sensor controlled ventilation systems, both in parking garages and in commercial buildings.
AirTest has identified a number of R&D projects that will further improve the Company's product offering and enable additional sales into the same target markets. Management is also investigating potential distribution in offshore markets, particularly with the AirTest parking garage ventilation control systems.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE AirTest Technologies Inc.