SmartBurner purchased for 138 hotel properties (8,806 hotel room suites).
Purchase represents approximately 20% of this leading hotel chain's properties.
Hotel channel development driven by a leading Pioneering distribution partner.
MISSISSAUGA, ONTARIO / ACCESSWIRE / September 6, 2016 / Pioneering Technology Corporation (PTE.V) (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 of 8,806 units for 138 hotel properties by one of the largest suite style hotel chains in North America. This purchase order represents approximately 20% of this undisclosed hotel chain's total North American suite style hotel property portfolio. The purchase was led and facilitated by one of Pioneering's industry leading distribution/supply partners.
The purchase was made after the completion of a successful 15 property pilot project with this hotel chain over the past 9 months. This undisclosed hotel chain is one of North America's largest owner/operators of company branded suite style hotel rooms that include fully equipped kitchens. This major hotel chain is the first to install Pioneering's SmartBurner on a large scale. The initial roll out represents approximately 20% of their total suite style hotel portfolio. Shipments will be completed in September and the roll-out to the hotel chain will occur immediately afterwards.
Pioneering CEO Kevin Callahan said, "The hotel/motel/short term rental segment with fully equipped kitchens is large, growing and a natural channel for Pioneering's cooking fire prevention solutions. We are ecstatic to see significant adoption in this channel as it represents a major opportunity for Pioneering and its partners to help suite-style hotel/motel operators and other multi-residential rental property owners to protect their properties, reduce their operating costs and most importantly protect their guests/tenants. Based on the success of this project we look forward to working with our distribution/supply partners in further exploiting this very large channel opportunity."
Major suite style hotel chain properties (with kitchens) in North America number over 3,200 hotel properties and approximately 320,000 hotel units representing a significant multi-million-dollar opportunity for the Company and its distribution partner(s) while helping these hotel chains save money, protect their guests/tenants and deliver a return on their investment.
According to the National Fire Protection Association, cooking equipment is involved in nearly half (45%) of all hotel and motel fires resulting in significant costs, injuries, inconvenience costs and sometimes death. For a hotel chain like this one, 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. Pioneering's SmartBurner with its patented temperature limiting control (TLC) technology helps prevent cooking fires before they start. 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.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release
SOURCE: Pioneering Technology Corporation