MANCHESTER, N.H., April 7, 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) (otc: SFMGF), supplied the Percotherm® Condensing Stack Economizer to the Pierre Boucher Hospital energy retrofit project which received first prize in the 2011 Technology Awards by ASHRAE (American Society of Heating, Refrigerating and Air-Conditioning Engineers). This prestigious first prize was awarded to one of Canada's largest engineering-construction firms. The ASHRAE Prize is one of the most coveted awards in the North American engineering community.
The ASHRAE Technology Awards recognize outstanding achievements by members who have successfully applied innovative building design in the areas of occupant comfort, indoor air quality and energy conservation. A rehabilitation project for a new hospital wing, operation block, and laboratories for the Pierre-Boucher Hospital, Longueil Quebec, won first place in the existing healthcare facilities category. The design team was able to recover a large amount of energy that would have normally been evacuated outside by combining low-temperature water loops with a dual-compressor recovery chiller and a direct-contact condensing stack economizer (Percotherm®) designed and built by Sofame Technologies.
According to ASHRAE, the winning team's efficient design reduced the hospital's energy consumption by 9% in the existing building and 29% in the expansion, saving $210,000 per year in utility bills and reducing greenhouse gas emissions by 1,152 tons per year. Global efficiency in the boiler room increased from 80% to 93%. Total project payback was 3.6 years.
Tom Makmann, President and CEO of QED Connect, who has a degree in Mechanical Engineering, praised Sofame saying, "We are ecstatic that Sofame has contributed to a fifth project to merit an ASHRAE prize. Sofame's technology and know-how is a necessity in today's market, especially in the current economic and ecological environment. We continue to support Sofame's efforts to begin realizing their growth potential throughout the US marketplace. This will in turn help QED achieve its business objectives for 2011."
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.