MANCHESTER, N.H., March 31, 2011 /PRNewswire/ -- QED Connect, Inc. (otc: QEDN), a New York corporation ("QED Connect"), today announced that its Joint Venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV:SDW) (otc: SFMGF), has confirmed that Mr. Donald E. Bogle has agreed to join Sofame Technologies Board of Directors.
Mr. Bogle's has a distinguished career in industrial automation and controls with major corporations such as ABB, Honeywell and Siemens. At Honeywell, he was the President of the $1.1 billion Honeywell Home and Building Control Division. He joined Moore Products as President and Chief Executive Officer, a publicly traded process automation and controls firm in Pennsylvania that was sold to Siemens Energy and Automation Division. Mr. Bogle is now a strategic business consultant based in Knoxville, Tennessee. Mr. Bogle's appointment will take effect after the vote of the shareholders at the annual general meeting of Sofame Technologies tentatively planned to take place in Montreal in mid-June.
According to Tom Makmann, President and CEO of QED Connect, "The addition of Mr. Bogle brings impressive US HVAC industry experience to Sofame's Board of Directors. I believe that his knowledge of the US market will help our Joint Venture partner, Sofame Energy, meet its revenue goals."
John Gocek, President & CEO of Sofame Technologies added, "We are excited about welcoming Mr. Bogle for many reasons, including his extensive background in controls, technical sales, and business leadership."
Sofame's industrial energy efficiency technology, saves fuel, reduces CO2 and NOx emissions, generates attractive returns on investment, and continues to attract major partners and in the US market. During 2010, Sofame teamed with a national mechanical construction firm to be able to offer system installation, a leading engineering software developer (Autodesk), a project financing group (Pacific Financial) and several capable sub-contractors for manufacturing.
Makmann continued, "We are confident in Sofame's ability to close more contacts in the weeks ahead."
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 complete the Joint Venture with Sofame and 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.