Business
Cool Technologies Signs Agreement in Principle with Craftsmen Industries
Cool Technologies Signs Agreement in Principle with Craftsmen Industries.
About this update from Cool Technologies, Inc.
[{"type":"text","content":"\nTAMPA, Fla., March 02, 2017 (GLOBE NEWSWIRE) -- On February 21, 2017, Cool Technologies, Inc. (OTCQB:WARM), an innovator in mobile power generation, energy efficiency, and heat removal technologies, has signed an agreement with Craftsmen Industries, Inc., a market leader in the design, engineering and production of mobile marketing vehicles, experiential marketing platforms and industrial mobile solutions.\nBeginning in April of 2017, Cool Technologies will work with and deliver to Craftsmen Industries, a Class III Vehicle (Ford F-350 dually) up-fitted with Cool Technologies’ production-ready MG 30 kVA/70 kVA (single phase/three phase) system. For up to 60 days, the two companies will test, tune and finalize the system’s design to ensure it meets the criteria required by Craftsmen’s customer base and Cool Tech’s target customers.“The MG system appeals to Craftsmen Industries because of the benefits it will provide to our customers and because of the potential it offers to expand our customer base,” said Mark Steele, President and Chief Executive Officer of Craftsmen Industries. “Weight, cost and space savings are prime considerations for our current and potential customers.”This agreement is mutually beneficial, leveraging the robust synergies between the two companies. In addition to the experiential marketing platforms, Craftsmen’s markets - military, first responder, command centers, training, disaster, water treatment, mobile medical, mobile offices and mobile kitchens - rely on mobile power generation.  As a result, they include many of the primary segments targeted by Cool Tech.During the two month test and tune period, key customers from both companies will be brought to Craftsmen Industries’ headquarters in St. Louis to view the technology and make pre-production orders to their specifications.“This is an auspicious start for the year. Specialty design and vehicle up-fitting is one of the objectives we set early on,” said CEO, Tim Hassett.  “Combining the unique skill set, proven quality and production capabilities of Craftsmen Industries, with our patented thermal and MG system’s technologies, will enable customers to order vehicles with MG systems from 10 up to 120 kVA.”About Cool Technologies, Inc.Cool Technologi...