TAMPA, Fla., Jan. 28, 2019 (GLOBE NEWSWIRE) -- Cool Technologies, Inc. (OTCQB: WARM)(“Company” or “Cooltech”) an innovator in efficient mobile power generation and thermal dispersion technologies, will showcase the initial production run of its Mobile Generation (MG) work trucks to an audience of US and Latin American politicians, plus Latin American bank, business and factory owners as well as agricultural and community leaders at Craftsmen Industries in February. The official date will depend on the issuance of visas.
The itinerary for the showcase event will include a tour of the St Louis manufacturing facility and inspection of the first production run MG vehicle in operation as it powers a variety of agricultural pump, water purification and processing equipment.
Latin America is beset by declining water tables and unreliable electrical power in the rural states. The Latin American attendees are interested in using the MG to run pumps for farming, processors for the harvest, mobile desalination for water purification and delivery and to provide reliable power for rural factory equipment.
As diesel fuel tends to be more expensive in Latin America, they’re also intrigued by the MG’s hydrogen fuel injection option which significantly improves fuel economy and performance. Hydrogen is injected into the air prior to entering the combustion chamber. When it’s mixed with fuel in the chamber, hydrogen accelerates the rate at which the diesel burns, thus reducing the consumption of fuel.
Lighter weight, longer lasting, and less costly than a tow behind generator, CoolTech's MG system is installed in the chassis and uses the work truck’s engine to drive the generator. It offers a significant weight savings over comparable tow-behinds, plus the ability to tow a trailer. Eliminating the tow behind generator also improves gas mileage by up to a 50%.
Prior to delivering the truck to Craftsman, the company completed Design Failure Mode and Effect Analysis with its engineering partner, Czero Inc. All production drawings were reviewed print by print to firmly define production routings while extensive testing on the MG system and the Ford F-Series truck was performed.
The truck was found to have some heating issues in the transmission and under the hood when running the MG system within Ford’s parameters of operation. Those have since been addressed by using the company’s thermal technology to cool the PTO and transmission. The company intends to patent this cooling methodology. The under-hood problem was solved with a simple fix.
CoolTech ordered the necessary components and then Craftsmen took over. “The more product we manufacture, the more familiar we become with system, the more value we can add by doing what we do best: refining and customizing to suit customer needs.” said Mark Steele, President and Chief Executive Officer of Craftsmen Industries.
“We are very pleased with the performance and quality of the completed trucks. They are a dynamic statement of our vision and technical capabilities, as well as our manufacturing partner, Craftsmen Industries,” said Timothy Hassett, Chairman and CEO of Cool Technologies. “The MG redefines what is possible with work trucks. I am proud of our relentless focus that has driven the company to this current inflection point. From our Chief Technology Officer to our partners at Czero, the level of work has been first class and I look forward to the rest of this year as we to continue to execute our growth strategy.”
“I’m looking forward to introducing the MG system to our customer base, particularly food truck vendors. I believe they can fully benefit from all the system’s capabilities,” added James Fickert, account director at Craftsmen Industries.
The company will soon go into production on MG systems that range from 30 kVA up to 125 kVA installed on Class 3 to 5 work trucks. The first generation production runs for the MG 30 to 80 kVA systems will begin this quarter. The company will expand its product portfolio when production of the MG 125 systems commences in Q2 of this year.
Mr. Hassett concluded, “We are excited for the investment community to begin understanding the wide range of applications for our proprietary technologies as we begin to strengthen our focus on building long-term shareholder value.”
About Cool Technologies, Inc.
Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. The Company has additional patents-pending for various OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec Corporation, the Company’s cooling system eliminates the need for costly modifications while increasing power output of pumps, fans, compressors, batteries, motors, generators and bearings
Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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