Pioneering Technology Corporation
Pioneering Technology's SmartBurner(TM) Poised for Growth via New U.S. Distribution Agreement with Market Leader
Wednesday, July 6, 2016 7:40 AM
- One of the Largest Multi-Residential, Institutional Supply Companies in North America
- Smartburner to Be Purchased & Inventoried In 8 Distribution Centers across the United States
MISSISSAUGA, ON / ACCESSWIRE / July 6, 2016 / Pioneering Technology Corporation (TSXV: PTE) (OTC: 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 an agreement with one of North America's largest national distributors and direct marketers of broad-line facilities maintenance, repair and operations products (the "Organization"). This Organization is now purchasing, warehousing, distributing and selling Pioneering's SmartBurner product throughout the United States. The Organization has recently stocked the product in eight distribution centers across the country and is actively promoting the SmartBurner to its substantial customer base through its national sales organization. Product purchased to date is valued at approximately $630,000 CDN.
Approaching $2 billion in sales, this Organization now owned by one of the world's largest retailers, serves more than 175,000 customer locations and holds leading market positions in the institutional, multi-family housing and residential end-markets. This Organization's broad and diverse customer base includes apartment complexes and property management companies, educational institutions, lodging, hospitals and health care facilities, government facilities, office buildings and building service contractors, professional contractors and hardware retailers.
Pioneering CEO Kevin Callahan said, "We are extremely happy with this new relationship. Their access to key decision makers and their reputation in multi-residential and institutional channels will have a significant positive impact on our ability to grow our business in these channels where cooking fires are a very dangerous and expensive problem. This new distributor/sales relationship brings large scale channel expertise, customer relationships, logistics capabilities and a large and dedicated sales force that will impact our SmartBurner business like few other organizations could."
High Growth Opportunity
The partnership helps enhance one of The Company's key strategic initiatives in 2016: to secure formal business relationships with large scale US distributors who have logistics, sales & marketing capabilities and channel expertise in the key channels where Pioneering's SmartBurner product is relevant and required. The relationship will provide Pioneering with opportunities to increase sales significantly in key market verticals where cooking fires are a problem and where this new partner has a large customer base and strong relationships with key decision makers.
Pioneering CEO Kevin Callahan added, "We will continue our focus on partnering with world class distribution partners like this one to accelerate growth while continuing to help protect people and properties from the dangers of cooking fires. We remain committed to maximizing shareholder value as we execute on our key strategies for achieving growth in 2016 and beyond."
Pioneering's patented, easy to install SmartBurner product is engineered to help prevent cooking fires (the number 1 cause of household fire and fire injuries in North America, a multi-billion-dollar problem), save energy and enhance the look, maintenance and performance while delivering its customers a return on investment. Pioneering also offers product solutions for other cooking platforms (including gas and electric smooth top ranges and microwave ovens).
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 well over 140,000 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
Email: [email protected]
220 Britannia Road East
Mississauga, ON L4Z 1S6
For investor relations please contact:
Contact Financial Corp.
Email: [email protected]
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 Corp.