MANCHESTER, N.H., May 17, 2010 (GLOBE NEWSWIRE) -- QED Connect Inc. (Pink Sheets:QEDN), a New York Corporation, today announced that Sofame Technologies Inc. (TSX-V:SDW) received a purchase order for $555,000 from a major Pharmaceuticals manufacturer in the United States. QED and Sofame signed a letter of intent to enter into a Joint Venture in the United States earlier this month.
The order is for a custom Percotherm® heat recovery system that is designed to reduce natural gas consumption and carbon emissions. The customer is among the first manufacturing facilities in the US to achieve a newly developed EPA designation for pharmaceutical manufacturing as well as an environmental leadership award from the Alliance for Workplace Excellence in the United States.
The US market represents vast opportunities for Sofame, which designs and manufactures heat recovery and industrial hot water heating systems that are eco-friendly and result in operational cost savings. The capacities of recovered energy in a Sofame system typically begin at 1 MW per hour, which is the approximate equivalent of a 150-room hotel. Cost savings generated by greater efficiency can provide customers a return on their investment within 2 to 3 years.
The Joint Venture will help give Sofame a significant presence in the US to support its sales, marketing and manufacturing activities.
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation 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. QED maintains the goals of portfolio expansion and entry into various 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.
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 high-temperature 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, visit 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 its expansion plans; (ii) finalize the joint venture agreement with Sofame Technologies, Inc., (iii) build the management and human resources and infrastructure necessary to support the growth of its business; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.