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Smartcool Announces Sale to Central England Co-Operative

V.SSC.H

Vancouver, British Columbia--(Newsfile Corp. - July 12, 2022) - Smartcool Systems Inc. (TSXV: SSC.H) (OTC Pink: SSCFF) ("Smartcool" or the Company") is pleased to announce that its subsidiary in the UK has received Purchase Orders from Central England Co-operative (Co-op) for installation of proprietary Smartcool™️ ECO3™️ at 68 Co-op sites. The project includes installing the Company's optimization technology on 120 heat pumps. While most of the Heat Pumps are manufactured by Mitsubishi, the technology will also be applied on Daikin, Fujitsu and Toshiba units.

This initial project is proceeding after an extensive test period of 6 months over 4 sites. The results achieved confirmed savings of over 25% in kWh consumption compared to normal operations. Co-op anticipates annual savings of greater than 860,000 kWh resulting in a simple payback of less than 3 years not including tax benefits.

CEO Ted Konyi commented, "this initial project, to be completed over the next 2 months, will assist Co-op in reducing operating costs and meeting ESG and Carbon Footprint reduction targets. The Company is currently in discussions with the Co-op Group about further installations across their 7,000-site estate. A tremendous effort was put forward by the team in the UK, headed by Steven Martin and working closely with Peter Marshall. We look forward to providing our technology in many more Co-op sites."

Kevin Collins, Head of Facilities and Technical Services at Co-op, said "After reviewing all the energy data, it was clear that Smartcool™ was very effective in reducing kWh whilst maintaining temperature. This initial project will be part of the Co-op's ongoing commitment to reducing our Carbon Footprint. We are looking forward to working with Smartcool to complete these installations by mid-summer."

About Central England Co-operative

Central England Co-operative is a regional consumer co-operative in the United Kingdom, based in Lichfield and which trades from over 400 sites across the English Midlands and East Anglia. The business is owned and democratically controlled by its members who can stand for election to the board and who also share in the society's profits. A proportion of the profits of the business are also invested in local community groups through its community dividend grants programme and its more than 60 member classes.

About Smartcool

Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.

For more information, please www.smartcool.net

Investor inquiries
Ted Konyi
CEO
TEL +1.866.571.6554
EMAILted.konyi@smartcool.net

Legal Notice Regarding Forward-Looking Statements

This news release contains "forward looking statements". Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as "expect", "anticipate", "intend", "plan", "believe", "estimate" and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward-looking statements.Forward-looking statements in this news release include those concerning the Company's intent to conduct the Private Placement, its belief that the proceeds will be sufficient to pay to bring its financial statement and continuous disclosure filing obligations up to date, and its intent to file for a full revocation of the FFCTO and reinstatement of trading on the NEX Board of the TSX Venture stock exchange. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward-looking statements. Risks that may prevent or delay the forward-looking statements from coming to fruition as anticipated include investor interest in the Private Placement, the availability of working capital, regulatory risk and miscellaneous market factors that may increase costs. It is our policy not to update forward-looking statements except to the extent required under applicable securities laws. Further information on the Company will be made available from time-to-time at www.sedar.com or at the Company's website, www.smartcool.net.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130597