SAN ANTONIO--(BUSINESS WIRE)--PowerCold Corporation (Pink Sheets:PWCL) announced today it has moved to a new plant facility in San Antonio, Texas that will house its administrative offices and manufacturing. The new facility further supports and enhances the Company's corporate operating structure and accommodates its manufacturing partner, Industrial Mexicana, S.A., Monterrey, Mexico. (News Release –June 9, 2008).
During the three quarters ending September 30, 2008 there were purchase orders for over 100 units for the Company's two major product lines: WDEC Evaporative Condenser and WDFC Wet/Dry Evaporative Fluid Cooler. Unit orders increased substantially over the previous year; vary in size from 20-ton to 165-ton units and market in the $15,000 to $45,000 range for each unit size. There are 38 unit orders in production at Industrial Mexicana's manufacturing plant for current delivery.
The majority of the Evaporative Condenser orders are from a major industry HVAC OEM Company. Included in the current backlog is a new order for eight Evaporative Fluid Coolers for delivery fourth quarter 2008 to a major food retailer. The Company's hybrid Fluid Coolers supports the food retailer's green building initiatives to reduce energy cost, water consumption and refrigerant charge - another testament of PowerCold's energy efficient products for heating, ventilating, air conditioning and refrigeration (HVAC&R) supermarket applications.
PowerCold® recently released a second-generation enhanced design Wet Dry Fluid Cooler (WDFC) that incorporates a newly developed proprietary heat exchanger, which exclusively uses DuPont Caltrel® engineered polymer materials. The PlexCoil® tubing lightweight characteristics reduce overall weight by over 30% vs. competitive units, allowing them to be placed more strategically on a building's roof. The PlexCoil® tubing also contains far more heat exchange surface allowing them to run completely dry at temperatures as high as 70F. This unique feature is unprecedented in the Evaporative Fluid Cooler Industry and allows for a reduction in water usage by 35-50% vs. competition.
The Company's Board of Directors recently approved the appointment of Steven L. Gidumal as a Management Consultant and Financial Advisor, effective October 1, 2008. (Form 8-K – October 2, 2008). The Company has also recently engaged a group of investment bankers to support its funding program.
PowerCold Corporation designs, develops and markets unique HVAC&R products and systems used in converting dry cooling systems to evaporative cooling systems. PowerCold's proprietary energy efficient products reduce power costs for air conditioning and refrigeration over air-cooled heat rejection.
PowerCold Corporation - New Location:
1142 Arion Parkway
San Antonio, Texas 78216
PowerCold® and PlexCoil® are registered trademarks of PowerCold Corporation.
DuPont™ and Caltrel® are trademarks of DuPont or its affiliates and are used under exclusive license by PowerCold Corporation.
The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including: the inability to generate and secure the necessary product sale; the lack of acceptance of the company's products by its customers; the Company is undercapitalized and faces all of the risks inherent in obtaining additional funding; the Company is not current in its reporting obligations under the Securities Exchange Act of 1934; and the Company's internal controls and procedures are not effective. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
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