shoulda got out when I had the chance, live and learn
SDW - SOFAME TECHNOLOGI (TSX-v) - Page 21
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Sofame Trading Suspended Pending Filing of Q2 Reports
Thursday, June 02, 2011
MONTREAL, June 2, 2011/CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, has been informed by the Autorité des marchés financiers, that a limited cease trade order would not be granted after the Company did not file the second quarter reports as required on May 31, 2011. The Company had informed the AMF that these statements are being prepared and would be filed in June 2011. As a result of the cease trade order issued yesterday by the AMF, the TSX Venture exchange suspended trading in Sofame Technologies shares.
Over the past twelve months, Sofame has successfully restructured its balance sheet, significantly reduced operating costs, and changed its business model from in-house manufacturing, to outsourcing. The company is actively engineering industrial heat recovery solutions for customers, and quoting on industrial energy efficiency projects in the United Statesand Canada. Several new orders are in final stages of negotiation. Sofame plans to submit an application to the Autorité des marchés financiers to have the cease trade order revoked soon after the Q2 reports are filed. Upon receipt of the revocation order, the Company will apply to the TSX Venture Exchange for reinstatement to trading.
still waiting for the D.C.B.
cat scratch fever..![]()
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Press release from CNW Group
C3E moves to galvanize Sofame Marketing
Thursday, July 21, 2011
SHAWINIGAN, QC, July 21, 2011/CNW Telbec/ - The Center of Excellence in Energy Efficiency (C3E) has approved an investment of $301,500in Sofame Technologies Inc. (TSXV: SDW). The investment will be in the form of a debenture that is part of a proposed round of debt financing totalizing $1 million. A separate private participation in a new $700,000secured loan is being negotiated with new lenders to complete the package. Proceeds will be used to finance marketing of Sofame's innovative industrial water heating and heat recovery systems. As part of the program, C3E will nominate an observer to Sofame's Board. The financing agreement also includes an option for C3E to acquire carbon credits generated by Sofame's systems.
To view the complete press release:
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MANCHESTER, N.H., Aug. 18, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC: QEDN), a New York Corporation ("QED Connect"), today announced that its Joint Venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV: SDW), has received a purchase order for a Sofame Hybrid Percomtherm® unit from a leader in the processing and distribution of pork, poultry and meat products, with facilities in Quebec, Ontario and Alberta. The water heating system, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner. The order, for a plant in Quebec, is one of several placed with Sofame by the same customer over the last few years to upgrade energy efficiency in their food processing operations. The reduction in fuel costs generally offers a three years return on the total investment including installation.
John Gocek, Sofame's President & CEO comments, "Sofame is pleased to continue working with this customer to provide improved efficiency to their operations. This order, which includes equipment and installation also qualified for a financial incentive from the natural gas utility, giving the customer everything needed to control project costs and ensure maximum benefits."
Tom Makmann, CEO of QED Connect added, "The Joint Venture continues to be a key part of our corporate strategy and we are pleased with Sofame's progress in closing new orders and obtaining financing. QED anticipates, but can provide no assurances, that orders of Sofame systems in the JV will contribute to its 4th quarter as several US orders in excess of million dollars are about to close."
"Le Maistre Chat" .....mmmmeeooowww ![]()
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MONTREAL, Sept. 20, 2011 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, is pleased to announce that Butterball, LLC, the largest producer of turkey products in the United States, has ordered a Sofame Hybrid Percomtherm® unit for its Mount Olive plant in North Carolina. The equipment, which operates at 96% efficiency, combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat water.
"As the leading U.S. turkey producer, Butterball believes it has an obligation to be a good steward of the environment, and is pursuing many innovative environmental initiatives surrounding resource conservation, pollution prevention and upgrades to environmental sustainability." said Steve Valesko, Vice President of Engineering for Butterball, LLC. "Butterball is using advanced environmental technology to collect real-time, enterprise-wide data, measure actual performance and recommend new solutions to reduce energy and water use, as well as carbon emissions. The Sofame project touches all three of these areas," added Valesko.
According to John Gocek, Sofame's President CEO, "Sofame is excited to offer its energy and cost saving solutions to Butterball. This important project will recycle energy to heat process water. It is a perfect example of how Sofame's systems achieve cost savings, lower energy consumption and contribute to carbon footprint reduction."
About Butterball, LLC
Butterball, LLC is the largest producer of turkey products in the United States and offers a broad array of products for deli, retail and foodservice. Headquartered in Garner, N.C., Butterball produces 1 billion pounds of turkey each year and supplies its products to more than 50 countries. The company's three-pronged approach to Doing Business Right focuses on self-governance, sustainability and social responsibility. The initiative plays a key role in providing internal oversight for integrating values that are important to the company, in particular its efforts to reduce its environmental footprint. The industry leader has seven plants located throughout the United States. For more information: http://www.butterballcorp.com
About Sofame Technologies Inc.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information: www.sofame.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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MANCHESTER, N.H., Sept. 26, 2011 /PRNewswire/ -- QED Connect Inc.'s (OTC Pink: QEDN) ("QED Connect") joint venture partner, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV: SDW), today revealed the details on the recent purchase order from Olymel L.P., a leader in the processing and distribution of pork, poultry and meat products that has facilities in Quebec, Ontario and Alberta. Sofame's seventh contract with Olymel, previously announced, is for a Hybrid Percomtherm® unit, which operates at 96% efficiency and combines condensing recovery of waste heat from existing boilers with a new direct contact condensing burner to heat process water.
"At Olymel, energy efficiency projects pay for themselves directly by reducing annual fuel costs," stated William Laing, Director of Engineering Services at Olymel L.P. He added, "The decision to purchase the Sofame unit was based on its heat recovery characteristics and its ability to produce hot water more efficiently than the conventional boilers in use. Sofame systems are already operating in six other Olymel plants across Canada, and their reliable performance has led to this decision to make a new investment."
According to John Gocek, Sofame's President & CEO, "Sofame is pleased to continue working with Olymel and our partners in Quebec. This offering, which includes equipment, installation, and a financial incentive from the natural gas utility, gave the customer everything needed to assess project costs and benefits. We are delighted to be able to proceed immediately with this new contract."
Tom Makmann, CEO of QED Connect added, "As previously announced Sofame has secured orders for over $1.4M this quarter. This order and the Butterball contract validate the technology's application in food processing industry. We are very excited about Sofame's success and are looking forward to the Joint Venture, Sofame Energy, contributing to QED's future."
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Sofame Announces Revocation of Cease Trade Orders
MONTREAL, Dec. 8, 2011 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW.V - News), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, is pleased to announce effective December 7th, 2011 the simultaneous revocation of three cease trade orders ("CTO's") which were issued by the Autorité des marchés financiers (the "AMF") on June 16, 2011, by the BC Securities Commission on June 9th, 2011 and by the Alberta Securities Commission on September 12th, 2011.
The CTO's were issued for failure by the company to file in due time its quarterly interim financial statements as well as Management's Discussion and Analysis for the period ended on March 31, 2011 (the "financials"), and which default was disclosed by Sofame in a press release dated June 2, 2011. These financials have been filed by the company on September 30, 2011. On October 3, 2011, Sofame also filed for the period ended on June 30, 2011 its third quarter interim statements and Management's Discussion and Analysis. Comments were issued in a press release on October 6, 2011. As a result of the CTO's being revoked, the company will be immediately making a request to the TSX Venture Exchange to reinstate the shares of the Company to trading. Sofame shall advise shareholders as soon as it receives confirmation from the TSXV of the date trading in its shares will be reinstated.
C3E $301,000 Loan Due Diligence is in Progress
In July, Sofame received a preliminary loan offer from C3E which was disclosed in a press release dated July 21, 2011. C3E is a privately funded organization which encourages development and commercialization to institutions and industrial end-users of new energy efficiency technologies. Sofame qualified for funding in the form of a convertible debenture to cover costs of marketing and aggressively commercializing its technology. Due diligence for this investment is currently under way and an update will be issued in December 2011.
About Sofame
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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MONTREAL, Sept. 19, 2012 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW) (OTC.PK: SFMGF), has reached an agreement with SYNERGY Entech (Shanghai) to sell industrial energy efficiency systems in the People's Republic of China. Sofame is a leading manufacturer of environmentally efficient and cost effective heat recovery systems for traditional fossil-fuel fired equipment, CO2 and NOx reduction technologies, and 50,000,000 BTU/Hr DIRECT-CONTACT water heaters. SYNERGY Entech (Shanghai) began to market Sofame's award winning water heating systems earlier this year. Strong interest from end-users led to the arrangement with SYNERGY. To enter the Chinese market, Sofame has agreed to source key components of its systems in China, and will sub-contract and oversee manufacturing of Sofame heat recovery units for the Chinese market by qualified Chinese manufacturers.
Light fuel oil in China currently costs $1.20 per US gallon, and natural gas costs $5.50 per Dekatherm, about double the US price. Saving energy reduces production costs, and direct contact waste heat recovery offers more savings than standard indirect contact heat exchangers used in China for decades. The Chinese government considers industrial energy efficiency a profit center, and is readily encouraging adoption of new technologies from the West, and wider distribution of domestically produced natural gas. The current five year plan addresses environment and clean energy priorities by boosting non-fossil fuel use up to 11.4 percent of primary energy consumption, water consumption per unit of value-added industrial output is to be cut by 30 percent, energy consumption per unit of GDP is to be cut by 16 percent, and carbon dioxide emissions per unit of GDP are to be cut by 17 percent. Sofame's engineered products contribute to achieving all of these objectives set by the Chinese government.
Edward Wu, Sales Director for SYNERGY stated "We are eager to bring Sofame's proven 94-99% efficiency rates to industrial energy users across China. SYNERGY has already developed the first opportunities to sell Sofame systems in the People's Republic of China. By supplying components sourced in China, a significant cost barrier is eliminated. SYNERGY's new and existing customers will benefit from rapid deliveries and the lowest costs."
According to John Gocek, Sofame's President and CEO, "Chinese plants, boiler rooms, central heating and cogen stations can save fuel costs and reduce emissions by contacting SYNERGY, which is initially focusing on turn-key projects offering financial payback in under one year, including installation."
SYNERGY has five offices in Shanghai, Beijing, Hong Kong, Guangzhou and two more are planned in southwest and central China. Sofame now has representation in China, Mexico and France, in addition to nineteen highly skilled and qualified representative firms promoting and selling Sofame commercial, institutional, and industrial waste heat recovery and water heating solutions across North America. www.sofame.com
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or can you say...reverse engineering?? ![]()
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MONTREAL, Feb. 1, 2013 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW) (OTC: SFMGF) has reported net sales of $1,802,080 for the 2012 fiscal year ended September 30th, and a net profit of $ $119,974 (6.7%) for the year.
- 2012 Net Sales of $ 1,802,080 compared to $ 2,520,639 in 2011, a decrease of 28.5%
- 2012 Gross Profit of $ 368,820 (20.5%) compared to a Gross Loss of ($ 131,722) (-5.2%) in 2011
- Seven orders totalling $ 2.4 million were received between August 2011 and September 30, 2012
- Two orders were received in 2011, and one was for a large NOx reduction system at a university
- Operating Expenses declined 39.3% in 2012 to $ 515,428 (28.6%) compared to $ 849,058 (33.7%) in 2011
- Net Earnings in 2012 were $ 119,974 (6.7%) compared to a Net Loss of ($ 935,103) (-37.1%) in 2011
- EBITDA in 2012 was $ 581,319 versus negative (- $ 504,590) in 2011
Note: These are the financial highlights only. Management`s Discussion and Analysis, the consolidated financial statements, cash flows, and notes thereto of Sofame Technologies Inc. are available at www.sedar.com.
Comments on the Year Ended September 30, 2012
During 2012 Sofame's order book reflected a marked improvement in demand for the Company's custom engineered industrial energy efficiency products. Sofame continued to close new orders, deliver existing contracts and operate with low overhead costs. Sofame undertook extensive cost reductions over the last three years, and began a program of outsourcing in 2011. The new business model allowed the company to cut overhead, incur costs only when contracts are in production, and pursue more projects simultaneously.
These results are better than expected compared to the past several years of history. Over the last three years, Sofame has adapted to challenging market conditions which included low natural gas prices due to fracking supplies, tight capital investment budgets at end-users, and an absence of bank financing in the normal course of business. In the latter half of 2012, well head gas prices recovered to about $3.25/DT. Two-year payback on energy efficiency investments has become the norm for Sofame's industrial water heating solutions.
According to John Gocek, Sofame's President & CEO, "Sofame's operations are now running smoothly. Marketing in the United States will accelerate since we have installed projects in New York, New Jersey, Illinois, Michigan, Delaware, Colorado, North Carolina and Maine. With the support of investors in New York, we are using the public company to pursue complementary acquisitions of profitable companies in the HVAC industry. The Board's goal in 2013 is to increase Sofame's annual revenues, net profits and cash flow."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: SOFAME TECHNOLOGIES INC.
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Sofame Technologies to build heat-recovery system for MUHC
Read more: http://www.montrealgazette.com/technology/Sofame+Technologies+build+heat+recovery+system+MUHC/7991603/story.html#ixzz2M8kDUvkW
Montreal’s Sofame Technologies Inc. said Wednesday it has won a contract to fabricate and install a heat recovery system at the new 2.4 billion square foot McGill University Health Centre. The project is designed to save energy costs and improve environmental performance by reducing carbon emissions.
Sofame, a specialist in heat recovery from industrial and institutional boiler and turbine exhausts, said the MUHC’s Percotherm system is similar to those in operation at several other hospitals and airports and will offer 20-per-cent overall energy savings.
It will be linked to the MUHC hospital’s hot water and steam boilers and integrated with climate-control. Startup is scheduled in the spring.
Read more: http://www.montrealgazette.com/technology/Sofame+Technologies+build+heat+recovery+system+MUHC/7991603/story.html#ixzz2M8k4NXtw
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Sofame Technologies Percotherm® Installed at MUHC's Glen Site - Novel heat recovery system will lower energy costs and carbon emissions
MONTREAL, Feb. 7, 2013 /CNW Telbec/ - Sofame Technologies is pleased to announce that its novel Heat Recovery System will lower energy costs and reduce carbon emissions, contributing to a truly healing environment at the new McGill University Health Centre hospital in Montreal. As a public institution and a member of the community, it is important to the MUHC to make sure that both patients and the environment receive the care and respect they deserve.
When Montreal-based distributors, Enviroair, met the consulting engineering firm to discuss plans for the new 2.4-million sq. ft. MUHC Glen site, one of the priorities was to determine how best to maximize heating efficiency while ensuring the lowest possible energy costs. The stated objective was to achieve a solid 20% in yearly energy savings, results that will be measured after the startup, and this is precisely what the team was aiming for.
The answer to their energy performance and cost savings requirements was found through Sofame Technologies, a Montreal company which is a pioneer in industrial heat recovery from boilers and turbine exhaust. In fact, the unit chosen was the very same type of direct-contact stack economizer used by numerous other hospitals to achieve up to 98% heating efficiency. A Percotherm® direct-contact stack economizer, designed and manufactured by Sofame in Quebec, would be linked to the hospital complex's three hot water boilers and three steam boilers, and integrated seamlessly in the sophisticated climate control system. At thirteen feet in diameter and serving MUHC Glen site's 3,800 horse power boiler capacity, this Percotherm® would be one of the largest in Canada.
According to the consulting engineering firm, long before the start-up of construction, it was understood that every decision pertaining to equipment for the power plant had to be based on proven performance and long-term, glitch-free durability.
The Percotherm® direct-contact stack economizer recuperates the residual heat contained in a boiler's flue gas and transfers the heat to a cold water stream. Hot water is produced at temperatures as high as 140 degrees F (60 degrees C). Cool water enters the unit at the top and is then uniformly distributed over the upper chamber through a layer of stainless steel nodules which constitutes the heat transfer zone. The water percolates down through the packing where in comes into "direct-contact" with the rising hot products of combustion. Both the sensible and the latent heat contained in the gases are transferred to the water.
The system designed includes three dampers, one induced draft fan, one variable speed drive, plus a state-of-the-art computerized control panel with operator touch screen. The first firing of the boilers is scheduled for spring 2013.
Adds Luc Mandeville, Sofame's Vice-President of Technology, "Without a doubt the Percotherm® will deliver the environmental performance that the MUHC's Glen site is counting on, and also significant operating cost savings. We have custom-manufactured dozens of similar units and performance reviews are invariably outstanding."
MUHC's Glen site will adhere to stringent environmental standards (LEED® Silver certification and BOMA BESt) and favour sustainable development, energy savings, healthy air flow, efficient water use, waste reduction, recycling and green operations. Sofame, with the installation of its novel heat recovery system to lower energy costs and carbon emissions, is proud to contribute to the high environmental standards at the Glen site.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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