
Smartcool Systems Inc.
SSC: TSX-V
Basic Shares 44.3 million
Fully Diluted 50.7 million
SSC: TSX-V
Basic Shares 44.3 million
Fully Diluted 50.7 million
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Investors of Smartcool Systems got an early Christmas present on December 23rd with the company’s announcement that it was awarded a U.S. Government Services Administration (GSA) contract. Smartcool shares jumped 20% to 32.5 cents on the release of this news and have held strong since then with good volume - Dec. 23 volume 778,000, Dec. 24 volume 150,000 & Dec. 29 volume (at the time of release of this commentary) 278,000.
The GSA is an independent agency of the United States government established to help manage and support the basic functioning of federal agencies, including the procurement of products. According to the news release, “The contract permits the listing of the Smartcool products on the GSA website which allows any purchasing agent within the United States federal government seeking energy savings devices to purchase the Smartcool products at a preferred price. This will provide the company with a new sales channel within the US federal government sector.”
George Burnes, CEO of Smartcool acknowledged the size of this new market, "This GSA contract will allow Smartcool Systems USA to tap into an economically definitive market, that in 2009 alone saw $16.8 billion allocated to the Office of Energy Efficiency and Renewable Energy's (EERE) programs and initiatives".
What is also impressive is that the GSA manages more than 11 percent of the government's total procurement dollars and $24 billion in federal assets, including 8,600 government-owned or leased buildings and 213,000 vehicles.
To read the full release, please click here.









