Under the Symbol:
Alltemp, Inc. (LTMP) Refrigerant delivers Significant Energy Savings from first Installations in India; Partnership Agreement with Vikasa Holdings designed to accelerate Market Penetration
Tuesday, August 20, 2019 7:05 AM
WESTLAKE VILLAGE, CA / ACCESSWIRE / August 20, 2019 / Alltemp, Inc. (OTC PINK:LTMP), a manufacturer of proprietary, environment-friendly refrigerants designed to deliver significant energy and financial savings, announces the successful results of its first trial tests in India and a critical Partnership Agreement with Vikasa Holdings to accelerate market penetration. The tests, using Alltemp’s drop-in refrigerant technology, were carried out at the Gujarat manufacturing plants of Zydus Cadila, a leading Indian pharmaceutical company.
At the Zydus Cadila plant in Vadodara, Gujarat, Alltemp’s proprietary refrigerant delivered significant savings on two separate installations. On a package HVAC system, Zydus has documented sustained energy savings of 23% over the past year. On the second installation in a brine chiller unit, alltemp® refrigerant delivered even greater energy savings ranging from 28% to 40% across different process payload temperatures.
Alltemp, Inc. CEO Bill Lopshire expressed enthusiasm over the introduction of the Company’s sustainable refrigerant technology into the large Indian market. Lopshire stated, “We are excited to have begun a relationship with companies like Zydus Cadila and especially to help them become greener while also delivering savings for their bottom line. This is just the beginning of what I’m confident will be a long journey in this exciting market.”
The installations were facilitated though a Partnership Agreement with Vikasa Holdings, a U.S. company dedicated to investing in cutting-edge ‘distributed infrastructure’ technologies that can be deployed in India and other large emerging markets.
Anil Kakani of Vikasa Holdings noted, “We are constantly evaluating innovative, highly scalable solutions that can transform essential business verticals.” He added, “Based on the results we’ve already seen from our pilot tests in India, Alltemp’s refrigerants will be a game changer for this massive industry. We are ready to scale Alltemp’s place in India, and to deliver huge energy savings for our customers in India as well as other emerging markets.”
On May 15, 2019, an updated research report issued by ResearchandMarkets.com noted that, “the India HVAC market is expected to attain a size of $5.9 billion by 2024, progressing at a CAGR of 7% during the forecast period (2019-2024). The major factors driving the growth of the market are increasing number of high-rise buildings, hypermarkets in Tier-II cities, and shopping complexes and malls, where HVAC systems are an essential requirement. Furthermore, the market is predicted to progress due to the on-going smart city projects in the nation. See news at: https://www.businesswire.com/news/home/20190515005493/en/Indias-HVAC-Market-2019-Size-Share-Development
Vikasa identifies and introduces disruptive and proven technologies that can deliver more sustainable solutions to meet the growing demand of large emerging markets. Vikasa portfolio companies span across various applications, including a highly advanced data analytics technology that improves operational efficiency and reduces maintenance cost of large commercial buildings; a capacitor technology that can more efficiently charge and store power for electric vehicles; the first fully compostable bottle that can replace traditional plastic used for drinking water and other liquids; a renewable technology that complements and substitutes diesel for critical uptime applications.
Vikasa's latest partnership company, Alltemp, is bringing an energy-efficient drop-in refrigerant technology that substantially improves the environmental impact over traditional refrigerant offerings while significantly reducing energy consumption. With India's residential and commercial air-conditioning consumption on the verge of dramatic and sustained rise, the benefits of Alltemp refrigerant for the India market will be massive.
Experience at Vikasa Holdings and Delivering Results
Anil Kakani shifted back to the U.S., in 2015, after three years in Mumbai, India, where he was Executive Director on the investment banking team of a mid-market financial services firm. He drives Vikasa’s relationships with Indian and U.S. technology companies looking to enter and scale their business in India and other large emerging markets.
Prior to living in India, Kakani held senior level roles in the U.S. Government and in industry - most recently as Senior Advisor for India to Treasury Secretary Timothy Geithner, where he established the U.S.-India Economic and Financial Partnership (EFP) with India's Finance Ministry. Kakani earlier worked as legislative counsel for economic policy issues to then-Senator Hillary Clinton, and as senior advisor in the Clinton White House to Office of Management and Budget Director Jacob Lew. Kakani traveled to India with Presidents Clinton and Obama on their maiden visits to the world’s largest democracy. While in the private sector, Kakani led the development of Corning, Incorporated’s commercial strategy and innovation partnerships for India.
Kakani holds a Master's Degree in Public Policy from the Kennedy School of Government at Harvard University and a Law Degree from the University of Arizona, College of Law; he is admitted to the California State Bar. He also serves on the Boards of numerous organizations, including Just Jobs Network, World Sustainable Development Forum, and Mann Deshi Foundation, and is on the Board of Advisors for various tech startups.
Arvind Dheer, based in Delhi, brings over two decades of commercial and technical experience across various sectors to the Vikasa platform. Most recently, Dheer served as President of Lloyd Electric and Engineering Ltd, a leader in HVAC and refrigeration systems and heat transfer technologies. He also has extensive international experience, having worked with technology partners and customers across diverse sectors (including railways, defense, energy) across Europe, the Middle East, Asia Pacific and China. Dheer is a tech savvy engineer with a track record of identifying technology and structuring joint ventures and MOUs.
Dheer graduated with a B.E. in Electrical Engineering from the Malaviya National Institute of Technology in Jaipur, India, and a post-graduate Diploma in Business Management.
Conventional air conditioning and refrigeration refrigerants are so detrimental to the global environment and energy intensive that they’re being phased out in all developed countries, due to environmental concerns over its strong effect on the depletion of the Earth's ozone layer. The European Union banned R-22 (Freon) and the US is on the EU’s heels, which will force home owners and industry leaders scrambling for an affordable alternative. The EPA mandated the reduction of all HCFCs, to remain in compliance with the Montreal Protocol, and is ahead of schedule in enforcing these reductions. (http://www.epa.gov/ozone/title6/phaseout/hcfc.html).
Alltemp’s “Universal” solution provides the lowest Global Warming Potential (GWP) of any non-flammable HFC refrigerant to the market with zero ozone depletion, which means that alltemp is the first acceptable replacement to abide by both the Montreal and Kyoto Protocols.
About Vikasa Holdings, LLC
Vikasa Holdings (www.vikasaholdings.com) is a U.S. company dedicated to investing in cutting-edge ‘distributed infrastructure’ technologies that can be deployed in India and other markets. ‘Distributed infrastructure’ means low capex, highly efficient, customizable solutions that can fill the gap in delivering critical services where traditional infrastructure falls short. Vikasa works as an operating partner to help great solutions achieve commercial success in large emerging markets.
About Alltemp, Inc.
Alltemp, Inc. has developed a proprietary refrigerant technology, after years of research and development, called alltemp®, a proven replacement for many worldwide refrigerants that have detrimentally affected the global environment. Alltemp® refrigerants are environmentally friendly, sustainable, and cost-efficient energy solutions for the residential and commercial marketplace. Alltemp refrigerants have broad applications, ranging from Heating Ventilation and Air Conditioning ("HVAC"), to refrigeration and foam insulation, to industrial solvents. Alltemp is the ideal solution for replacement R-134a, R-404a, and HCFC-22, better known as R-22, but which is rapidly being phased out in all developed countries due to environmental concerns over its strong effect on the depletion of the Earth's ozone layer. For further information, please go to alltempsolutions.com.
This press release contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"), as well as Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In particular, when used in the proceeding discussion, the words "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to certain risks and uncertainties that are subject to change at any time, and the Company's actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for and delays in the start of production, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financing, and other risks.
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Ben Hansel - Media
SOURCE: 24/7 Market News