Vancouver's Smartcool Systems Inc. (TSX-V:SSC), which develops energy saving equipment, has signed an exclusive distributor agreement with a German group to sell Smartcool products in that European country.
The contract expands Smartcool's business into one of the largest energy consumers in Western Europe. Germany consumed more than 525 billion kilowatts of energy in 2004.
The German distributor's name was not disclosed, but the group will conduct a feasibility study on the impact of Smartcool's Energy Savings Module for clients in the German marketplace.
The contract is part of Smartcool's aggressive international distribution plan. Last week it opened a new office in Israel. The company now has 23 locations worldwide evaluating, manufacturing and selling its products.
Smartcool's share price range during the past week: between $1.38 and $1.45; 52-week high: $1.75; 52-week low: $0.38.