Cool Technologies, Inc. Enters into Joint Venture Agreement with Belirti Teknoloji, A.S
June 06, 2019 at 10:38 am
Share
Cool Technologies, Inc. announced that it has entered into a joint venture agreement ('JV') with Belirti Teknoloji, A.S. ('BelirtiTech'). To launch the business, BelirtiTech has awarded Cool Technologies a purchase order for up to $42 million for the purchase of several different models of its Mobile Generation kits. The purchase order will supply the JV with its initial inventory for resale into the Middle East and some African nations. The Company is actively working with the customer’s bank in addition to insurance companies and other financial entities to facilitate the financing of the orders. This initial purchase order is for six hundred MG80, MG125 and MG200 Mobile Generation systems. The MG systems will be integrated into the end customer’s choice of vehicles. The systems output commercial grade power, both single and three phase, standby and prime, across a variety of voltages. With an MG system, users no longer a need to tow a generator. They can plug right into the truck and output up to 200 kilovolt amps of electric power. The in-chassis generator enables users to tow additional equipment and reach sites that might be inaccessible while towing a trailered generator. Management expects that the financing negotiations with banks, customers and other entities will enable the Company to begin production of the systems within the 3rd quarter of 2019, and to generate revenues from the sales by the end of the year. The Company currently has inventory in place to start the initial first article production build. The purchase order also includes an additional MG80 installed in a Ford F-450 with the 2,500 gallon per day Mobile Water Desalinization option included.
Cool Technologies, Inc. is engaged in the designing and development of its technologies. The Companyâs core technologies are thermal dispersion and mobile power generation. Thermal dispersion technologies deliver liquid-cooled results for rotating equipment, multi-plate clutches, brakes and rotors without the use of liquid. Mobile power generation is a patent pending in-chassis system that outputs electrical power in amounts equal to or greater than skid-mounted generators or tow-behind generators from a package. The Company offers its products in the consumer, industrial and military markets, both in the United States and worldwide. Its initial target markets include those involved in moving materials and moving people, such as Motors/Generators, Mobile auxiliary power, Water purification and desalination, Electric vehicle charging, Compressors, Turbines (Wind, Micro), Bearings and other.