QED Connect Inc.'s Joint Venture Partner, Sofame Technologies, Inc. Backlog of Confirmed Orders Reach $1.7 Million
MANCHESTER, N.H. - QED Connect Inc. (OTC: QEDN), a New York Corporation ("QED Connect"), today announced that its Joint Venture partner, Sofame Technologies, Inc. ("Sofame Technologies")(TSXV: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, has received $1.7 million of orders in the fourth quarter of its 2011 fiscal year ending September 30th. The company received three confirmed purchase orders and one letter of intent representing the total value of $1.7 million. All four projects are scheduled for delivery over the next 12 months.
Sofame received a Letter of Intent for a stack heat recovery Sofame Percotherm® system for the new Maine Medical Center being built in Augusta, Maine. Delivery of this highly efficient system for hospitals representing several hundred thousand dollars in revenue is planned for the summer of 2012.
A significant contract from the American turkey processor Butterball was announced on September 20, 2011. The Sofame order for engineering, supply and installation of a large Hybrid Percomtherm® system is valued in the high six figures, and is being delivered and installed at the plant in Mount Olive, North Carolina in the current quarter.
Sofame is pleased to announce that it has been selected to supply a Percotherm® stack heat recovery system at the thermal plant of the new world class McGill University Health Center being built in Montreal. This is the largest health care construction project in Canada, with a value of Sofame's heat recovery equipment supply contract at approximately $400,000. Sofame is in the process of completing detailed engineering and installation drawings for physical delivery in September 2012.
Sofame received a repeat order from Olymel, a leader in the processing and distribution of pork, poultry and meat products, for engineering and equipment excluding installation - valued at roughly $200,000. Delivery of the contract, announced on September 26, 2011, is under way and will be completed in the first quarter of 2012.
John Gocek, Sofame Technologies' President & CEO commented, "Sofame is excited with its recent success this quarter and believes the Company is well positioned for 2012. We have been working with our network of representatives and are seeing an increased interest from the food processing, healthcare and central heating plants for improved fuel efficiencies. The Sofame Percotherm® provides a good solution for this need as its performance metrics are among the best in the industry, offering more than 95% gas-to-hot-water efficiency, condensation technology and 140 degrees F leaving water temperature."
In a recent announcement, the US is committing $4 billion in combined federal and private sector energy upgrades to buildings over the next 2 years to save billions in energy costs and promote energy independence. The investment includes a $2 billion commitment, made through the issuance of a Presidential Memorandum, to energy upgrades of federal buildings. In addition, 60 CEOs, mayors, university presidents, and labor leaders today committed to invest nearly $2 billion of private capital into energy efficiency projects for office, industrial, municipal, hospital, university, community college and school buildings.
Tom Makmann, President and CEO of QED Connect stated, "While economic conditions have obviously made it difficult for companies to achieve their plans, our Joint Venture (JV) partner Sofame's Percotherm® advantages provide a relatively fast ROI. Their customers are making the investment today to realize the improvement to operating costs to help them be competitive. We are looking forward to 2012 and having the JV, Sofame Energy, be a significant contributor to our business plan."
About QED Connect Inc.
QED Connect Inc. acquires, invests in and enters into strategic business partnerships with businesses that have strong potential. We seek joint ventures and strategic alliances in which we can assist our partners in achieving their plans and realizing their maximum potential. QED Connect's current investments and joint ventures include:
o Sofame Energy, Inc., a joint venture with Sofame Technologies, has sold the custom-designed "Hybrid Percomtherm®" boiler which recovers boiler flue gas heat from existing boilers and recycles the heat, thereby leading to overall energy efficiency.
o Nazz Productions, a movie producer. Nazz's feature film, "Good Day For It", won Favorite Feature at the 2011 Sonoma International Film Festival and opened theatrically in Los Angeles in July and has been released on DVD and video on demand later.
o StockProfile.com, a media awareness company which operates a customized platform showcasing emerging growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the assets of StockProfile.com.
o RDN Distribution provides Mobile VoIP applications and cost-efficient wireless services through IP-based telecommunication including Proprietary Technology that brings revolutionary cost-efficient wireless services to Consumers, SOHO and SME business in the Canadian market.
As a result of its continued success in the mergers and acquisitions arena, QED Connect is considering becoming a "business development company" as defined under the Investment Company Act of 1940.
For More Information, Contact:
QED Connect Inc.Tom MakmannPresident & CEO(603) email@example.com
SOURCE QED Connect, Inc.; Sofame Technologies, Inc.
Web Site: www.qedconnect.com