Greenway Design Group Announces Installation for Korea Telecom
HUNTINGTON BEACH, Calif., June 18, 2012 /PRNewswire/ — Greenway Design Group, Inc. (PINKSHEETS: GDGI) today confirmed that its dealer in South Korea has received an order to install Cool-n-Save systems on three Korea Telecom data storage and networking facilities located in Suwan, Osan, and Seoul.
“We are aware of the energy-saving capabilities of Cool-n-Save on air conditioning,” says Jeong Ho Kim, the Director of Korea Telecom’s Gyongbuk Corporate Business Center. “We are looking forward to a successful completion of the test as a precursor to deploying Cool-n-Save technology to Korea Telecom facilities throughout South Korea.”
According to the dealer and Greenway engineers, the test phase requires immediate onsite installation on Korea Telecom buildings in Suwan and Osan, and later in Seoul. Based on earlier field tests in South Korea, the expected cost savings from reduced energy usage is expected to be 22% of current air conditioning energy costs, with an estimated return on investment of about 12 months (energy savings versus cost of installation, plus equipment and first year maintenance). Korea Telecom estimates that 500 buildings may be part of the nation-wide Cool-n-Save installation program.
“Our dealer came to us with a proposal to launch tests with several major businesses in South Korea. This is the first order; we foresee more in the very near future,” says Darius Jakubik, the senior vice president of Greenway. “This operation is part of a larger effort to expand sales beyond our usual seasonal experience in the United States, both in terms of equipment and regular maintenance required for the Cool-n-Save system. We anticipate that foreign markets offer a full year sales opportunity for the company.”
Korea Telecom, known in South Korea as KT Corporation, has the largest portion of the South Korean local telephone and high-speed internet business. The company recently launched new business and consumer services that requires expansion of their networking and data storage capabilities.
Greenway markets their pre-cool technology under the trademark “Cool-n-Save.” Independent studies field studies (in Nevada and Costa Rica) show that Cool-n-Save evaporative pre-cooling systems may produce energy cost savings as high as 30%, with an average savings of about 26% from air conditioning use during peak heat seasons. The company has been developing pre-cool misting technology since 2005. Greenway received a “green engineering” award co-sponsored by TechAmerica and Harvey Mudd College in 2011. For more information, call 714-892-0011 or visit www.coolnsave.com and www.greenwaydesigns.com.
THIS PRESS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS.” FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE, UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, OUR COMPARATIVELY LIMITED FINANCIAL AND MANAGERIAL RESOURCES, OUR INABILITY TO MARKET AND SELL OUR LIMITED PRODUCT LINE IN SUFFICIENT VOLUMES THAT MAY ALLOW US TO ACHIEVE AND MAINTAIN PROFITABILITY AND POSITIVE CASH FLOW, THE UNCERTAINTY OF MARKET TRENDS, THE INTENSE COMPETITION FACED FROM OTHER CURRENT AND FUTURE TECHNOLOGIES AND THE UNCERTAINTIES OF COMPETITIVE PRESSURES WE FACE. THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH STATEMENTS.
Ray Wyman Jr, Communications Dir
SOURCE Greenway Design Group, Inc.