U.S. Property Management Firm Begins Roll-out of Pioneering's SmartBurner Across its Apartment Portfolio
- Phase 1 - 2,650 units shipped and currently being installed.
- Phase 2 - scheduled for early 2017
Mississauga, Ontario--(Newsfile Corp. - October 6, 2016) - Pioneering Technology Corporation (TSXV: PTE; OTC: PTEFF), ("Pioneering" or the "Company"), a technology company and North America's leader in cooking fire prevention technologies and products is very pleased to announce today a SmartBurner purchase and installation program with a medium sized U.S. property management firm to equip the apartment units in their housing portfolio.
This purchaser is a full service property management firm with over 250 apartment communities (in excess of 10,000 apartment units) throughout North Carolina, South Carolina, Virginia, West Virginia and Tennessee. The company is subsidized as part of the Rural Development or Department of Housing and Urban Development programs and is committed to developing LEED (Leadership in Energy and Environmental Design) certified apartment communities. The purchase is being recognized by the firm's insurer.
The decision to proceed with this program was made after the completion of a one-year test at one of the firm's buildings. As a result of this successful test, phase one of the rollout for the first 2,650 units have been shipped and are in the process of being installed. Phase two of the rollout is scheduled for early 2017.
According to the National Multifamily Housing Council in Washington DC, the top 50 Largest Apartment Managers represent over 3 million housing units in the United States (the smallest apartment management company on this list has 28,000 units under management). Pioneering is already working with some of these companies.
Pioneering CEO Kevin Callahan said, "The multifamily housing market in North America has been a large and growing channel opportunity for our products. Adoption of the SmartBurner in this channel since being launched has been significant. Recent partnerships with three of the largest supply partners to this channel is helping accelerate this adoption and growth."
According to the National Fire Protection Association, cooking equipment is the number one cause of household fire in the U.S. involved in nearly half (48%) of all fires resulting in loss of property, injuries and sometimes death. Apartment residents are at higher risk and cooking fires result in significant annual direct costs but also result in additional costs in the form of lost income, relocation, insurance and other indirect costs for property management companies. Pioneering's SmartBurner with its patented temperature limiting control (TLC) technology helps prevent cooking fires before they start, saves energy and delivers a return on investment. This technology has now been installed on over 150,000 stovetops throughout North America with 100% efficacy (zero reported cooking fires).
About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario is an "energy smart" technology company and North America's leader in innovative cooking fire prevention technologies. Pioneering engineers and brings to market energy-smart solutions for everyday consumer appliances making them safer, smarter, and more efficient. The company's patented technologies/products address a multi-billion-dollar problem - cooking fires. According to the National Fire Protection Association, stovetop cooking is the number one cause of household fire and fire injuries in North America (48% of all household fires - up from 20% in 1980). Pioneering's temperature limiting control (TLC) technology is now installed in over 150,000 multi-residential housing units across North America without a single cooking fire being reported and delivering a return on investment for its customers. Pioneering has proprietary cooking fire prevention solutions, including its trademarked Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor, for the majority of the more than 140 million stoves/ranges and over 140 million microwave ovens throughout North America. For more info, go to www.pioneeringtech.com.
For more information, please contact:
Pioneering Technology Corp.
Kevin Callahan, President & CEO
Phone: 905-712-2061 ext.222
220 Britannia Road East
Mississauga, ON L4Z 1S6
For investor relations please contact:
Contact Financial Corp.
1450 — 701 West Georgia St.
Vancouver, BC V7Y 1G5
This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
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