Press Release: PowerCold Corporation
July 10, 2002
LA VERNIA, TX -- PowerCold Corporation (OTC Bulletin Board: PWCL) announced yesterday that Elite Hospitality Inc.
of Daytona Beach, Florida has selected Ultimate Comfort Systems Inc., a wholly owned subsidiary of PowerCold, to
design and install a complete cooling and heating system for Elite's new St. Augustine Beach resort hotel. The
one-of-a-kind system includes Nauticon(TM), a patented evaporative chiller technology that improves air-conditioning
and refrigeration efficiency by up to 50%. The installation will also include the new and patented DuPont Caltrel®
cooling and heating coil. The coil never corrodes and dramatically reduces the overall power needed to run the
unit. The system will be manufactured at PowerCold's La Vernia, Texas plant. The new resort hotel will be located
at 530 A1A Beach Boulevard and will feature 60 guest rooms and suites, a restaurant, swimming pool and whirlpool.
Groundbreaking is planned for November of this year with completion expected by November 2003.
Ultimate Comfort Systems installations have been averaging $250,000 to $300,000 per installation.
"I am delighted that our technology that will provide a major design improvement in guest comfort and in energy
cost savings has been selected for this new hotel," said Frank Simola, PowerCold CEO. "Previous installations
of our technology have resulted in increased occupancy rates and higher guest satisfaction."
Robert Yoho, president of Ultimate Comfort Systems, based in Tampa, Florida said, "We are building a system
that will operate with less than .7 kw per ton and will be natural gas fueled using hot water heaters that are
over 90% efficient. Solar power will be the primary source for heating guest rooms, the swimming pool and the building.
Guests will be able to individually cool or heat their rooms. Because it will be a central system, guest rooms
will be quiet with no noisy compressors in the walls. The hotel will provide fresh air in each room through a system
that enables exhaust air energy to be captured to heat and cool the fresh air to the rooms while at the same time
dehumidifying the air. This is truly the hotel of the future, today."
"We are pleased to be the first to utilize this new technology in the state of Florida," said Manoj Bhoola,
president and COO of Elite Hospitality. "With this system we expect to deliver customer operated climate control
to our guests that is ultra quiet and comfortable, while keeping our energy costs well below those of conventional
systems."
It was announced last month that two hotels equipped with Ultimate Comfort Systems HVAC systems were the first
hotels ever awarded the EPA's "Energy Star" certification. This award is available only after a hotel
has been in operation for at least a year and has passed a very strict review process.
Al Othmer of the Florida Energy Offices Energy Conservation Assistance Program, said, "The new St. Augustine
hotel being built by Elite Hospitality will be a model for the hospitality industry as well as other commercial
buildings and extended care facilities in Florida. Incorporating this design will improve comfort, energy conservation
and the guest room environment."
Othmer said, "Ultimate Comfort Systems and Elite Hospitality will allow the Florida Energy Office through
its ECAP Program (Energy Conservation Assistance Program) to monitor the system to gain information for publication
regarding energy savings, comfort improvements, clean air for guests and employees and other important data. This
data will be shared with the hospitality industry for better and more efficient hotel construction."
M.B. (Bruce) Babcock, business manager of Caltrel® Fluid Energy Transfer Systems for DuPont® Canada, said,
"We are pleased that Ultimate Comfort Systems and Elite Hospitality are allowing us to demonstrate to the
hospitality industry the heat exchanger coil of the future. The Caltrel® cooling and heating coils offer features
not found in the standard cooling and heating coils that have been produced for decades and are in use even today.
The Caltrel® cooling and heating coil offers longevity, it will never corrode and reduces energy costs by reducing
horsepower required from fan motors and pumps."
PowerCold markets energy efficient and environmentally safe equipment to reduce power costs by up to 50%. PowerCold's
patented highly efficient Nauticon(TM) evaporative water-cooled condensers improve heating, air- conditioning and
refrigeration efficiency and reduce power costs over typical commercial air-cooled condensers. Combined with the
company's patented Ultimate Comfort System heating, ventilation and air conditioning (HVAC) system, Nauticon gives
PowerCold the ability to produce unmatched cost and operating savings in major segments of the HVAC market.
An investment profile on PowerCold may be found at www.hawkassociates.com/powercold/profile.htm
. A recent research report by Chesapeake Securities may be found at http://www.hawkassociates.com/powercold/reports.htm
and www.powercold.com
Forward-Looking Information: The statements in this news release contain forward-looking information within the
meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain
risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sale,
or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially
from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that any projected results (expressed or modified)
will not be realized.
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Company Contact:
PowerCold Corporation - Frank Simola, at (215) 248-2836.
Ultimate Comfort Systems - Bob Yoho at (727) 418-4459.
PowerCold Website: www.powercold.com, E-mail: pwcl@powercold.com
Hawk Associates, Inc. - Frank Hawkins or Julie Marshall, at 305-852-2383.
Website: www.hawkassociates.com, Email: info@hawkassociates.com
SOURCE: PowerCold Corporation