Pioneering Technology Finalizes Partnership Agreement with European Cooking Fire Prevention Leader Innohome OY
North American launch of new product technology planned for later this summer
MISSISSAUGA, ONTARIO--(Marketwired - June 8, 2017) - Pioneering Technology Corporation (TSX
VENTURE:PTE)(OTC PINK: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 the signing of
its definitive partnership agreement with Innohome OY ("Innohome"), of Espoo Finland, the market leader in
cooking fire prevention technologies in Europe.
Pioneering will soon introduce a new Pioneering branded product to the North American marketplace that will include Innohome's
award winning Stove Guard heat sensor technology. This new product is a great strategic fit for Pioneering complementing its
current family of cooking fire prevention solutions. This new product will be available in the aftermarket for electric
smooth top ranges through Pioneering's existing distribution network and eventually at retail.
Innohome's intelligent heat sensor technology is engineered to: 1) alert the user to imminent danger via a low frequency
alarm, and; 2) if the stovetop remains unattended the technology will shut the stove off to help prevent auto-ignition from
occurring. This advanced heat sensor technology includes two different types of heat sensing capabilities that together
measure excessive temperatures and rate of temperature change. These sensors also have a learning function that over time adapt
to user behaviour and environment.
The two companies finalized this agreement with the objective of generating incremental revenue and profit by enabling sales
of each company's products in the other's markets while reducing duplication of effort in R&D, sales/marketing, manufacturing
and logistics. Both companies view each other's technologies and products as complementary to their own and they will be
accretive to revenue, gross profit and net income for both companies.
About Innohome OY: Innohome based in Espoo, Finland is a technology company and
the leading cooking fire prevention company in Europe. Innohome's innovative Stove Guard products were the first to pass the
new EU Standard for cooking fire prevention. They are also the only stovetop safety devices to have passed the strict SINTEF
tests for cooking fire prevention. Innohome's technologies and products have received several international awards, including a
2016 CES Innovation Award Honoree, the Finnish Security Awards 2015 winner, the IFSEC 2014 Active Fire Product Innovation Award
and the EFE Awards 2014 Innovation of the Year. Their multi-patented smart technologies are now installed in over 200,000 housing
units in Europe. For more information, visit www.innohome.com.
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 200,000 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.
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.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press
release.