MONTREAL, January 31st, 2012 –Sofame Technologies Inc. (TSXV: SDW) has filed 2011 annual financial reports. Financial highlights for the fiscal year ending September 30, 2011 were as follows:
·2011 Net Sales of $ 2,520,639 compared to $ 1,209,696 in 2010, an increase of 108%
·Fourth Quarter 2011 Sales of $ 1,153,120 compared to $ 543,413 in Q4 2010, an increase of 112%
·2011 Gross Profit of ($ 131,722) (-5.2%) compared to $ 19,839 in 2010 (1.6%)
·2011 Operating Expenses of $ 657,032 compared to $ 1,523,530 in 2010, a reduction of (56.9%)
·Fourth Quarter 2011 Op Ex of $ 99,398 compared to $ 394,377 in Q4 2010, a reduction of (79.9%)
·2011 Net Earnings of ($ 935,103) compared to ($ 1,646,156) in 2010
·Confirmed Orders on hand of $ 1,430,000 at September 30, 2011
Note: These are the financial highlights only. Management`s Discussion and Analysis, the consolidated financial statements, cash flows, and notes thereto of Sofame Technologies Inc. are available at www.sedar.com.
Comments on the year ended September 30, 2011
Net sales totaled $ 1,153,120 during the fourth quarter of 2011, an increase of $ 609,707 (112%) over Q4 2010. All revenues were derived from shipments of heat recovery equipment to Canadian and American customers. This brought annual sales to $ 2,520,639, an increase of 108% ($ 1,310,943) over 2010 annual sales of $ 1,209,696.
Selling expenses in 2011 were slashed by $ 482,292 (64.1%) from 2010. Administration expenses were cut by $384,206 (49.8%) to $387,061 in 2011, and to $56,912 in the fourth quarter, down from $290,265 in the same quarter of 2010 – a reduction of 80.4%. Depreciation and amortization for fiscal 2011 were $ 289,827, compared to $309,050 in 2010. The Company had cash bank balances in the amount of $ 110,150 as at September 30, 2011 compared to $177,881 at the end of the fiscal year 2010.
In the fourth quarter of 2011, the Sofame recorded a ($ 221,002) loss on equipment shipped, principally consisting of completing the installation and start-up of the large and innovative Sofame Steam Pump® system sold to a university in New Jersey. Patents on the Steam Pump product are in the process of being filed in North America, Europe, China, India, Brazil and Japan. The system is considered innovative and has been proven during tests conducted at Sofame to reduce NOx emissions on large boilers by up to 90%. The product is ideal for campus heating plants. Management and Board believe the Steam Pump offers opportunities for comparatively significant revenue generation in full scale applications.
The highlight of Q4 was the receipt of three new orders for Sofame water heating systems and one non-binding letter of intent representing a total value of $1.73 million. All four projects are scheduled for delivery in Sofame’s 2012 fiscal year. The management team at Sofame is confident that with low overhead costs, contracts in hand, and seasoned leaders experienced in the HVAC industry at the helm of the company, the 2012 fiscal year has begun positively.
In a separate comment, management stresses that the Company did not issue 40,764,439 on January 19, 2012. On that date, the TSX Venture Exchange granted final approval of a debt to share transaction which was recorded on October 26, 2010. There are currently 147,658,652 common voting shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:Stone Communication Services
MONTREAL, January 24th, 2012 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is pleased to announce a new order from the Fleischmann’s Yeast plant in Montreal. The new system is a Sofame Hybrid Percomtherm® water heater for the manufacturing plant. The hybrid unit will recover energy from the existing boilers’ flue gases, while producing hot water at temperatures up to 180°F with an overall fuel to water efficiency approaching 99%. The order is not considered major, however, delivery is being scheduled within eight weeks, which is less than the 12-16 weeks typically required for engineering and production of a Sofame product.
According to Sofame’s President and CEO, John Gocek, “The food processing industry uses large quantities of hot water for cleaning, sanitation and product preparation. Sofame is pleased to accommodate Fleischmann’s requirements through and upgrade of their water heating equipment at the Montreal plant which will add operating flexibility and reduce fuel costs.”
About Sofame
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Stone Communication Services
MONTREAL, January 18th, 2012 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is pleased to announce that the Company is seeking $700,000 in financing.The final form of investment has not been finalized; however, the Company is considering either a debenture with a 3-year term, convertible to common shares at $0.10 per share after one year at the option of the lender, or an issue of non-brokered units at a price of $0.05 per unit, with each unit comprised of one common share and a two-year purchase warrant for half of one common share at $0.10 cents.Proceeds of the funding would be used to repay the secured bridge loan and to pay remaining trade debts, interest and government liabilities, as well as general working capital purposes.
Sofame’s shares resumed trading on the TSX Venture Exchange on Tuesday, January 10th.The investors in Sofame’s bridge loan have granted an extension to January 31st for the company to arrange repayment of $250,000 of capital plus approximately $33,000 of interest.The Company had been seeking an investment of $500,000 announced on January 24, 2011, and successfully closed on $300,000 in January 2011.Sofame could not close the balance of that private placement after trading in its shares was suspended on June 1, 2011 for failure to file in due time its quarterly interim financial reports for March 31, 2011.
Sofame is also pleased to announce immediate resumption of discussions with C3E to complete the $301,000 loan offer previously announced on July 19, 2011 to finance marketing of Sofame’s innovative industrial water heating and heat recovery systems.The $700,000 financing is being negotiated to complete the C3E package.As a result of C3E’s loan offer, Sofame has already returned to promoting its award winning industrial energy efficiency technologies at key energy industry trade shows such as Power-Gen in December 2011, AHR Expo (ASHRAE) in January 2012 and International District Energy Association (IDEA Campus energy Show) in February 2012.As part of Sofame’s marketing program, Autodesk Consulting has completed the automated design software package of Sofame’s Percotherm® product.This partnership with Autodesk was originally announced in a press release dated February 14, 2011.
According to Sofame’s President and CEO, John Gocek, “The current financing is necessary to release the bridge loan investors, and bring patient capital.Sofame has a $1.73 million order book at the start of 2012, low operating costs, and there is strong interest in our products.Adequate funding will send a strong positive message to customers.”
About Sofame
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:Stone Communication Services
MONTREAL, December 21st, 2011 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is pleased to announce that two new Directors have joined its Board. The nominations of Mr. Shamim S. Ahmed and Mr. Brian J. Dillon were approved at the annual general and special meeting of shareholders held in Montreal on December 19, 2011. Mr. Fahim Samaha, Chairman of Soffimat SA in Paris remains on the Board, as does the Chairman, Mr. Robert Presser, who is Vice President of ACME Engineering Products.
Sham Ahmed has 40 years of broad experience in the HVAC industry encompassing executive management, sales and marketing and consulting. Mr. Ahmed is currently Chief Operating Officer at Dectron Internationale, which is a global provider of highly-engineered indoor air quality and heating, ventilation & air conditioning products and services catering to the building systems, food processing, medical, petrochemical, recreation, hospitality, and telecommunications industries.
Brian J. Dillon has over 30 years experience with software systems in the insurance, pharmaceutical, pharmacy and healthcare sectors, and has been the driving force and founder of a series of successful start-up companies in Canada. As a result of the success of these businesses, Mr. Dillon has worked in senior management roles at Fortune 30 companies in the above-mentioned industry segments in North America and abroad, delivering advanced sales & marketing systems, technology platforms and related services.
Mr. Josh Costell, a Director with Sofame since June 2010, announced that he is leaving the Board and that his company, Tozour Energy Services, Inc. will continue sell Sofame’s products in New Jersey, Pennsylvania and Delaware. Tozour Energy is Sofame’s best performing U.S. Rep. firm, having completed several high profile industrial energy efficiency projects since 2006 in the university, hospital and pharmaceuticals markets.
According to Robert Presser, Chairman of Sofame’s Board, “New candidates were recruited for their experience as operating managers and entrepreneurs, and their proven track records as sales executives. They are also accessible because they live near Montreal, and share Sofame’s philosophy that quality execution is the key to building a profitable, growing business. Improving operations and execution will be a preoccupation of the Board over the coming year.”
As reported in a press release on December 14th, Sofame has received three confirmed purchase orders and one non-binding letter of intent representing a total value of $1.7 million in the fourth quarter of its 2011 fiscal year ending September 30th.
Luc Mandeville, founder and Vice President of Sofame, reported to the shareholders at the AGM that “McGraw Hill Construction Data estimates the US green building market will grow from $71 billion in 2010 to $163 billion in 2015. According to a McKinsey report, $520 billion of up-front investment in energy efficiency measures is needed in the US alone through 2020. President Obama also announced the $2 billion Better Buildings Initiative this year to improve energy efficiency in commercial buildings by 20% by 2020.”
Sofame’s President and CEO, John Gocek, reported that “two contracts for industrial energy efficiency systems are currently being delivered, and several new projects in the local Montreal market are in the final stages of quoting. The request to resume trading in Sofame’s shares is being finalized with the TSX Venture Exchange. Refinancing of the secured $250,000 bridge loan due in January may be achieved through a private placement in common shares at $0.05 cents currently being discussed with financial backers.”
In a final resolution, shareholders voted to approve modification of the exercise price of all 3,975,000 outstanding, unexpired stock options to $0.10 per share. The options had been previously granted to directors, officers, employees and consultants during the years 2008, 2009 and 2010 at exercise prices of $0.16, $0.17, $0.21, $0.25, $0.28 and $0.33.
Sofame also announced that André Caillé, formerly the President of Gaz Metropolitan and then of Hydro Quebec, has decided to resign as the special senior advisor to Sofame’s Board effective immediately due to other commitments. As reported in a press release on November 28, 2008, André Caillé joined Sofame to help raise awareness of Sofame’s energy efficiency technology, which was developed in part with assistance from Gaz Metro. Mr. Caillé is deeply involved in pioneering the exploration for shale gas as chairperson of the Quebec Oil and Gas Association.
About Sofame
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
John Gocek
President & CEO
(514) 523-6545 x200
Stone Communication Services
Brian Edelstein
(416) 867-2536 briane@stoneco.com
MONTREAL, December 14th, 2011 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is pleased to report that in the fourth quarter of its 2011 fiscal year ending September 30th, the company received three confirmed purchase orders and one non-binding letter of intent representing a total value of $1.7 million.Two projects were already the subject of press releases and all four projects summarized below are scheduled for delivery in Sofame’s 2012 fiscal year which began on October 1, 2011.
Sofame received a repeat order from the Canadian meat processor Olymel through a mechanical contractor who sold, and is installing, the turn-key project outside Quebec City.This Sofame order for engineering and equipment - excluding installation - is valued at roughly $200,000 and was previously announced on September 26, 2011.Delivery is under way and will be completed in the first quarter of calendar year 2012.
A significant contract from the American turkey processor, Butterball was announced on September 20, 2011.The Sofame order for engineering, supply and installation of a large Hybrid Percomtherm® system is valued at more than three quarters of a million dollars and is being delivered and installed at the plant in Mount Olive, North Carolina beginning in the current fiscal quarter.
Sofame is pleased to announce that it has been selected to supply a Percotherm® stack heat recovery system at the thermal plant of the new world class McGill University Health Center being built in Montreal.This is the largest health care construction project in Canada, and the value of Sofame’s heat recovery equipment supply contract is roughly $400,000.Sofame is in the process of completing detailed engineering and installation drawings and will receive a partial payment in the first quarter of 2012.The system is scheduled for physical delivery in September 2012.
Sofame received a Letter of Intent in September from its representative, Northeast Mechanical in Portland, Maine, who was selected by the mechanical contractor to engineer and supply a stack heat recovery Percotherm® system to the new Maine Medical Center being built in Augusta, Maine.Preliminary engineering is being completed in the current quarter leading to the final purchase order.Delivery of this highly efficient system for hospitals, representing more than $250,000 in revenue for Sofame, is planned for the summer of 2012.
Sofame is continuing to pursue a pilot project in China with CGN Energy Service Co. Ltd. In Shenzhen, China, and will release further information on project selection and sales progress in China as it becomes available.
Sofame’s sales process comprises three distinct phases – project development, project proposal and order delivery.All three phases involve selling activities, engineering, travel and costs.Traditional advertising and marketing do little to fill the sales funnel.Specialized energy engineering trade shows and personal presentations to consulting engineers and end-users analyzing actual projects have proven to be the most effective path to new orders.After a binding purchase order is received by Sofame, sales are only recognized when the contracted goods and services are delivered.Sofame’s revenues are earned from supplying engineering, equipment and on occasion installation.
About Sofame
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:Stone Communication Services
December 7th, 2011, Montreal - Over the past year, your board and management decided that the key to sustaining shareholder value at Sofame was to take difficult short term operational and financial decisions in order to keep the company safe during difficult economic conditions.Key investors, suppliers and representatives came together to finance the company when necessary, and management worked to convert debt to equity and strengthen the balance sheet.Fixed expenses were reduced to a bare minimum - and so was the level of permanent staffing - in order to conserve cash.The old fixed operating cost model was replaced by variable cost relationships which give us access to engineering, drafting, electrical and controls as well as production expertise when - and where - we needed it.This has allowed Sofame to move forward in the first quarter of its 2012 fiscal year with well-engineered, profitable projects which will produce the cash flow required for Sofame to become self-sustaining.
Our list of industrial and institutional prospects, and our network of sales representatives expect Sofame to successfully execute projects in 2012 and we will do so.Since August, Sofame has closed 4 orders worth $1.73 million at good margins, and the delivery of these projects will lead to more orders.Sofame has focused on selling projects that payback under three years fully installed. That is what clients require in an environment of tight capital budgets.I can honestly say to all stakeholders that the quality of our documentation and engineering drawings has never been better.We have recruited new candidates for the board of directors who are experienced operating managers, and who are accessible because they live near Montreal.They share my philosophy that quality execution is the key to building a profitable, growing business.Improving operations and execution will be a preoccupation of your board over the coming year.
The market for Sofame’s products is international.I personally presented our product line to a major Chinese state owned utility in June 2011 at their invitation.We are also developing other vertical markets in China with a sales organization that represents an important European gas-fired boiler line.Sofame has finalized its agreements with our partner, Soffimat, regarding Sofame Europe, our subsidiary in Paris.We are planning a significant roll-out to Soffimat’s network in the first six months of 2012.These are the kinds of tangible, sales-building initiatives that your board and management can undertake now that the financial situation has stabilized.Thankfully, the demand for industrial energy efficiency products is on the increase in most countries, and Sofame is positioned to become a part of this growing marketplace.
Sofame intends to communicate more effectively with its stakeholders in the coming year.We are participating again in trade shows - like Power-Gen this month - in order to rebuild our public profile with the power industry and with our representatives who service it.Our relationships with mechanical contractors like Emcor in the US will lead to more sales as they help us deliver turn-key pricing on industrial energy efficiency projects.While there is uncertainty in the US over debt and deficits, corporate USA is sitting on $2 trillion in cash and is always looking for ways to improve plant efficiency, reduce costs and cut emissions.US manufacturing is starting to roll again, and this coincides with Sofame’s target market which includes the boiler plants that power the fabrication facilities.
My experience as the owner of a small privately held custom engineering and manufacturing business in the environmental field stands in stark contrast to another role I fill as the chairperson of a Canadian crown corporation, Defence Construction Canada. I believed in 2009 that I came to the chairman’s role at Sofame with the requisite experience to lead a public company.Sofame’s water heating products are complementary to ACME Engineering’s product line and the distribution channels and market focus are similar.I quickly recognized Sofame as a small, niche-market company struggling with limited resources while concurrently facing challenging conditions in its marketplace.The demands of being public, rather than state owned or private, create additional pressures that make it difficult for management to focus on the needs of the operating business on the one hand, and on the demands of the regulators and shareholders on the other.
It was with deep regret that our stock stopped trading for over six months.The company was simply so deep into addressing operational challenges of delivering a large and complex contract for a NOX reduction system, as well as liquidity challenges, that we were not able to complete statutory filing requirements on time.We have since streamlined our accounting system, and our auditor is ready to begin the 2011 audit in December and conclude it far more quickly than in prior years.Shares should be trading again in mid-December.Increasing sales and profits remain the only sustainable way to solicit investor interest and create long-term shareholder value.
The Chinese proverb, “May you live in interesting times,” is both a blessing and a curse.Embracing the American saying that “you should never waste a good crisis” has allowed Sofame to stand out from the crowd by overcoming the deplorable conditions that the Great Recession dealt us.Your company is emerging on the other side as a leaner, focused and determined enterprise. It is rare that a microcap company recovers from what we have been through. We are all better managers because of it.Now is the time to capitalize on our experiences, and build Sofame into the success story that we all know it can become.
MONTREAL, October 6th, 2011 –Sofame Technologies Inc. (TSXV: SDW) has filed financial reports for quarters ending March 31 and June 30, 2011.Financial highlights for the two periods were as follows:
·Q2 and Q3 2011 Net Sales of $368,085 and $397,158 compared to $183,057 and $318,976 in 2010
·Q2 and Q3 2011 Gross Profit of ($60,222) and $145,807 compared to $(49,292) and $62,908 in 2010
·Q2 and Q3 2011 Operating Expenses of $241,455 and $82,144 compared to $116,519 and $321,788 in 2010
·Q2 and Q3 2011 Net Earnings of ($355,070) and $27,530 compared to ($182,945) and ($299,809) in 2010
·Sales after nine months doubled to $1,367,519 in 2011 compared to $666,283 in 2010
·Gross Profit after nine months was $89,280 (6.5%) versus $21,351 in 2010 (3.2%)
·Net Loss after nine months narrowed to ($575,084) in 2011 versus ($1,125,152) in 2010
Note: These are the financial highlights only. Management`s Discussion and Analysis, the consolidated financial statements, cash flows, and notes thereto of Sofame Technologies Inc. are available at www.sedar.com.
Comments on the Two Quarters Ending March 31 and June 30, 2011
As of March 31, 2011, Sofame had a confirmed order backlog of $578,052 consisting of the balance of equipment for a major project.The project in question generated a loss of ($60,222) for the second quarter of 2011 which is a 22.2% improvement of $10,930 from loss of ($49,292) recorded for the same period last year.During the third quarter ending June 30, 2011, sales rose 24.5% to $397,158 compared to the same period in 2010. The Company achieved a net profit of $27,530 in the third quarter including $78,410 of depreciation and $27,673 of interest costs.EBITDA was $133,613 for the three months ending June 30, 2011.
Sofame had a confirmed order backlog of approximately $600,000 in June consisting of the final installation and start-up of a major Steam Pump project in New Jersey.The Sofame Steam Pump® is designed to reduce NOx emissions of large gas-fired boilers by pre-heating and humidifying the combustion air.Based on the success of several Sofame Steam Pump® and Ultra High Efficiency (UHE Percomax®) projects in reducing NOX - while delivering fuel savings - Sofame believes this technology, which is presently being patented in most of the major industrial countries, will see a rapid expansion in the coming years.
In January, Sofame raised $300,000 through a private placement of shares, and in July, Sofame received a preliminary loan offer from C3E. C3E is a privately funded organization which encourages development and commercialization to institutions and industrial end-users of new energy efficiency technologies.Sofame qualified for a $301,000 funding in the form of a convertible debenture, to cover costs of marketing and aggressively commercializing its technology.Due diligence for this investment is currently under way in October 2011.
Sofame managed to deliver new orders and generate a profit in Q3 by reducing costs and better positioning the Company with its trade partners. Most costs have been shifted from fixed costs to variable costs which will only be incurred as purchase orders are received.The Company plans to continue raising funds while conserving cash and working through strategic partnerships to grow sales.Two new orders were received in the fourth quarter, both from food processors, Olymel in Canada, and Butterball LLC in the USA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:Stone Communication Services
MONTREAL, September 26th, 2011 – Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, is pleased to announce that Olymel L.P., a leader in processing and distribution of pork and poultry throughout Canada, has ordered a Sofame Hybrid Percomtherm® unit for one of its plants in Quebec.The equipment, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat water. The turn-key project was engineered by a team comprising members from Sofame, Enviroair Industries – Sofame’s Representatives in Quebec, the local gas utility, and R. Nantel & Associates, a Montreal-based mechanical contractor specializing in boilers and heating systems.
“At Olymel, energy efficiency projects pay for themselves directly by reducing annual fuel costs,” stated William Laing, Director of Engineering Services at Olymel L.P.He added, “The decision to purchase the Sofame unit was based on its heat recovery characteristics and its ability to produce hot water more efficiently than the conventional boilers in use. Sofame systems are already operating in six other Olymel plants across Canada, and their reliable performance has led to this decision to make a new investment.”
According to John Gocek, Sofame’s President & CEO, “Sofame is pleased to continue working with Olymel and our partners in Quebec. This offering, which includes equipment, installation, and a financial incentive from the natural gas utility, gave the customer everything needed to assess project costs and benefits.We are delighted to immediately proceed with this new contract.”
About Olymel L.P.
Olymel L.P. is a Canadian leader in the primary processing, further processing, and distribution of pork and poultry meat products, with facilities in Quebec, Ontario and Alberta. Olymel L.P. employs more than 10,000 people. Its international sales, mainly to the United States, Japan, Australia and some 60 other countries, represent almost 50 percent of its revenue. The company chiefly markets its products under the Olymel, Lafleur, Flamingo, Prince and Galco brands. For more information:www.olymel.ca
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 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:www.sofame.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
MONTREAL, Sept. 20, 2011 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, is pleased to announce that Butterball, LLC, the largest producer of turkey products in the United States, has ordered a Sofame Hybrid Percomtherm® unit for its Mount Olive plant in North Carolina. The equipment, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat water.
"As the leading U.S. turkey producer, Butterball believes it has an obligation to be a good steward of the environment, and is pursuing many innovative environmental initiatives surrounding resource conservation, pollution prevention and upgrades to environmental sustainability." said Steve Valesko, Vice President of Engineering for Butterball, LLC. "Butterball is using advanced environmental technology to collect real-time, enterprise-wide data, measure actual performance and recommend new solutions to reduce energy and water use, as well as carbon emissions. The Sofame project touches all three of these areas," added Valesko.
According to John Gocek, Sofame's President & CEO, "Sofame is excited to offer its energy and cost saving solutions to Butterball. This important project will recycle energy to heat process water. It is a perfect example of how Sofame's systems achieve cost savings, lower energy consumption and contribute to carbon footprint reduction."
About Butterball, LLC
Butterball, LLC is the largest producer of turkey products in the United States and offers a broad array of products for deli, retail and foodservice. Headquartered in Garner, N.C., Butterball produces 1 billion pounds of turkey each year and supplies its products to more than 50 countries. The company's three-pronged approach to Doing Business Right focuses on self-governance, sustainability and social responsibility. The initiative plays a key role in providing internal oversight for integrating values that are important to the company, in particular its efforts to reduce its environmental footprint. The industry leader has seven plants located throughout the United States. For more information: http://www.butterballcorp.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 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: www.sofame.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SHAWINIGAN, Quebec, Canada, July 19, 2011 – The Center of Excellence in Energy Efficiency (C3E) has approved an investment of $301,500 in Sofame Technologies Inc. The investment will be in the form of a debenture that is part of a proposed round of debt financing totaling $1 million. A separate private participation in a new $700,000 secured loan is being negotiated with new lenders to complete the package. Proceeds will be used to finance marketing of Sofame’s innovative industrial water heating and heat recovery systems. As part of the program, C3E will nominate an observer to Sofame’s Board. The financing agreement also includes an option for C3E to acquire carbon credits generated by Sofame’s systems.
“Sofame’s innovative heating systems are a distinct step forward in responsible energy management for institutions. After years of research and investment, Sofame has demonstrated engineering innovation by providing heat recovery solutions that have proven to be cost effective, reliable and with significant efficiency results. Our participation will strengthen the marketing and commercialization of this technology," C3E's President and CEO, Mr. Yvon Brousseau, mentioned.
“This new recognition of Sofame’s past achievements by experts in the energy efficiency arena, coupled with the financial assistance and support for marketing, is an extraordinary opportunity for Sofame. The potential monetary benefits of building on previous work done by Sofame Carbon is also a cause for excitement,” according to John Gocek, Sofame’s President and CEO.
The Center of Excellence in Energy Efficiency (C3E) is a center of excellence in commercialization and research (federal CECR program), which stems from the initiative of its two founding members, Rio Tinto Alcan and Hydro-Québec. The centre promotes projects that advance the development of energy efficiency in buildings, industrial processes, communications and information technology, bio-industries and transportation.
The national mandate of C3E is to support the commercialization of technological innovations with respect to energy efficiency and renewable energy sources. The C3E benefits from the support of its government partners, such as the Networks of Centres of Excellence (NCE) and the Agence de l’efficacité énergétique (AEE) and sets itself apart through large-scale industrial partners, which make up a market capitalization of more than $250 billion.
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MONTREAL, July 12th, 2011 – Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, is pleased to announce that the investors holding a $250,000 bridge loan have agreed to postpone repayment of principle plus interest until January 6, 2012. As mentioned in a press release dated April 1, 2010, the loan is secured by a mortgage bond pledging all assets of the company. Sofame is currently working to refinance the bridge loan. Negotiations are also under way with new lenders to arrange additional matching funding for development and export of Canadian energy efficiency and green house gas reduction technologies.
According to John Gocek, Sofame’s President & CEO, “Sofame has come a long way in reducing costs over the last 18 months. This funding will shore-up the balance sheet and allow Sofame and its partners to devote maximum resources to selling energy and cost saving solutions to new customers.”
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sofame to Develop Thermal Energy Efficiency Pilot Project with Chinese Utility (CGNPC)
MONTREAL, June 23rd, 2011 – Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, is pleased to announce that Sofame and CGN Energy Service Co., Ltd (CGNESCO) have met to discuss future cooperation. Sofame’s Chairman, Robert Presser, led the first face to face meeting with technical and commercial representatives of CGNESCO in Shenzhen at CGNPC headquarters on June 18th. CGNESCO had expressed interest in utilizing Sofame’s condensing technology in the Chinese market.
CGNESCO is a subsidiary of CGNPC, China Guangdong Nuclear Power Group, which is the largest Chinese nuclear power utility. CGNESCO serves industrial and institutional clients by offering engineering and consulting in industrial energy efficiency, green power and power plant retrofits. This move is part of the Chinese government’s initiative to reduce the intensity of industrial energy use including fossil fuels, and to improve China’s environmental performance. Sofame is undertaking the translation of its technical literature into Mandarin to allow CGNESCO to begin the qualification process of a pilot project. Sofame will provide consulting services and develop the plans and specifications for the systems which would be built under license in China. Sofame has developed over 300 industrial energy efficiency systems in North America and France since 1984.
According to John Gocek, Sofame’s President & CEO, “Providing consulting services to a state-owned utility such as CGNESCO is anopportunity for Sofame to leverage its main asset which is engineering know-how. Outsourcing of equipment manufacturing in North America and even overseas is in keeping with Sofame’s new lean business model.”
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ontario a publié son rapport final concernant la règlementation des émissions des gaz à effet de serre («GES») .O. Reg. 452/09, (GES Reporting Regulation) qui est entré en vigueur le 1er Décembre 2009.
En tant que président-directeur général de Sofame, mon mandat est de conduire le changement dans notre processus de vente pour finaliser des contrats. Après 200 jours, j'ai une vision claire de ce que Sofame doit entreprendre en 2010 pour réussir et tout porte à croire que nous y arriverons. Il est clair que la mise en place d’une force de vente directe va nous aider à atteindre nos objectifs de revenus. L’effort combiné des membres de l’équipe de vente et de l’équipe technologie interne attirent l’attention de nos clients corporatifs au Québec. Nos connaissances et l'expérience de nos employés constituent une ressource extraordinaire pour les entreprises qui souhaitent réduire les émissions de gaz comme les NOx, et réduire les coûts de carburant jusqu'à 25 % en même temps. Peu de nos concurrents, offrant des technologies environnementales, proposent une période de retour sur l’investissement (ROI) de 3 ans ou moins comme Sofame fait.
Le secteur industriel est en effet un secteur exigeant en matière d’encouragement de l'efficacité énergétique. La façon dont les investissements en efficacité énergétique sont faits est complexe, et à certains égards unique à chaque entreprise individuelle, et même à chaque installation. Les entreprises ont besoin de mieux comprendre leur consommation d'énergie, leurs possibilités d'énergie, leurs défis d'énergie et les avantages que l'efficacité énergétique peut apporter.
MONTREAL, Octobre 7, 2009 - Sofame Technologies Inc (TSX-V: SDW), chef de file dans la fabrication de chauffe-eau industriels respectant l´environnement ainsi que des systèmes de récupération de chaleur rentables, annonce la démission de deux membres de son conseil d'administration, Hubert Marleau et Richard Groome, président.
MONTREAL, Octobre 7, 2009 - Sofame Technologies Inc (TSX-V: SDW), chef de file dans la fabrication de chauffe-eau industriels respectant l´environnement ainsi que des systèmes de récupération de chaleur rentables, a divulgué l'information suivante, après un examen des pratiques d'information continue Sofame par le TSX Venture Exchange:
MONTREAL, Le 10 Septembre 2009 - Sofame Technologies Inc. (TSX-V: SDW), chef de file dans la fabrication de chauffe-eau industriels respectant l´environnement ainsi que des systèmes de récupération de chaleur rentables, accueille quatre nouveaux représentants manufacturiers à son réseau de distribution.
MONTRÉAL, 27 août 2009 – SOFAME Technologies Inc. (TSX-V: SDW), un manufacturier de pointe de chauffe-eau et de récupérateur de chaleur industriel, éco énergétique à grande efficacitélance un programme agressif pour appuyer son réseau de manufacturiers et de représentants selon Michel Brisson, président-directeur général de SOFAME. M. Brisson a fait ces commentaires dans un rapport adressé aux actionnaires, affiché sur le site internet de la compagnie.
MONTRÉAL, 27 août 2009 – SOFAME Technologies Inc. (TSX-V: SDW), un manufacturier de pointe de chauffe-eau et de récupérateur de chaleur industriel, écoénergétique à grande efficacité a signé une lettre d’intention avec Saab Financial Inc., représenté par M. Fadi Saab, pour déployer la mise en marché des produits SOFAMEen Europe de l’Ést par le biais de projets clé en main.
Joindre SOFAME s’est avéré être un défi à la hauteur de mes aspirations. Lors de mes premiers 100 jours, nous n'avons pas gaspillé notre temps. J'ai rapidement compris que j'avais, dans les mains, une proposition de grande valeur. SOFAME est fondé sur l’utilisation d’appareils de chauffage de haute efficacité et de récupération de chaleur des systèmes de chaudière au gaz conventionnels dont le but est d’épargner des coûts et d’abaisser les émissions de gaz à effets de serre. SOFAME vend une technologie verte, professionnelle qui s’est éprouvée à travers les dernières décennies. Ces systèmes se paient d’eux-mêmes, et possèdent une efficacité d'énergie impeccable. Cette proposition de valeur est soutenue par n'importe quel de nos 300 et + clients. Nous avons d’excellentes références de la part de notre clientèle.
Le 12 août dernier, Canromex et la société canadienne SOFAME ont eu l’honneur de présenter au Mexique une technologie novatrice et éprouvée qui récupère la chaleur résiduelle pour produire de l’eau chaude et de l’énergie grâce à des solutions durables et écologiques qui réduisent l’émission des gaz à effets de serre.
