MANCHESTER, N.H., June 23, 2010 (GLOBE NEWSWIRE) -- QED Connect Inc. (Pink Sheets:QEDN), a New York Corporation ("QED Connect"), today announced that its Joint Venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSX-V:SDW), received a purchase order for $131,000, to retrofit a Hybrid Percomtherm(R) unit, as part of an energy efficiency upgrade at a sugar refiner. The project is structured in collaboration with Consulgaz, a subsidiary of Gaz Métro Plus, a Quebec-based energy products supply and services company addressing residential, commercial, institutional and industrial heating and cooling applications.
This confirmed order arrives following $985,000 in new contracts signed in April and May 2010, as reported in Sofame's Management Discussion and Analysis for the second quarter ending March 31, 2010, which is available at www.sedar.com. The products and services sold under these contacts are an example of the Sofame Technologies products to be marketed and sold within the United States under the Joint Venture agreement between QED Connect and Sofame Technologies, announced on June 2, 2010.
"This order underscores the resurgence of Sofame's business volume, which has seen the Company confirm over $1.1 million in new contracts in less than three months," commented John Gocek, Sofame's President and CEO.
Tom Makmann, CEO of QED Connect stated, "QED is excited to finalize the Joint Venture agreement, this month, and begin working with Sofame to expand the opportunities for the sale of their products, though the Joint Venture, into the US market."
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 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) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) successfully obtain and fill potential product orders; (iv) complete the Joint Venture Agreement with Sofame Technologies; (v) competitive factors and developments beyond the Company's control; and (vi) other risk factors.