Smartcool Systems Inc. has tapped Kafaat Energy as its new distributor in Saudi Arabia. Kafaat is the first company in the the country to deploy a shared savings, or ESCO, model.
"Kafaat commenced several successful installations of Smartcool products in the last month. Their interest level is extremely high and they are generating interest in new opportunities daily. The order book is expected to grow rapidly with support from the Smartcool UK team,” said Steven Martin, executive VP of Europe, the Middle East and Africa at Smartcool.
Over the past six months, Smartcool has seen several successful pilots which have now led to further discussions on potential installations. This is largely focused in the United Kingdom.
These pilots include a major UK water utility, one of Britain's largest energy providers and a multidimensional transportation operator. The financial benefits of these installations have exceeded 20% savings in power consumption. The company anticipates that while the impact on Smartcool financials will result in fourth quarter improvements, the follow on sales of Smartcool will provide significant profitability commencing in the first quarter of 2017.
In addition to these developments, Smartcool has added new distribution channels in South America, Latin America and the Caribbean. This is expected to also add to sales in 2017.