Smartcool Reports Year-End and Fourth Quarter Results for Fiscal 2010

VANCOUVER, May 26, 2011 /PRNewswire/ - Smartcool Systems Inc. (TSX-V: SSC) a leader in providing state of the art green technology, proven to enhance the efficiency of refrigeration and air conditioning systems, today reported fourth quarter results for the three months and fiscal year ended December 31, 2010 (all figures in Canadian dollars and Canadian GAAP and IFRS).

Revenue for the fiscal year ended December 31, 2010 was $4.2MM, a 75% increase from $2.4MM in the prior year.  Net loss narrowed by 54%.  Strong revenue growth was driven by providing unique energy efficient technology through an enhanced distribution network and a focused sales effort on customers with multi-site installations.

Throughout 2010, Smartcool continued to build a robust global distribution network for the entire Smartcool product line.  The Smartcool global distribution network now consists of new partnership agreements with multiple third-party distributors throughout the United States, including several in Florida, California, and states in the Midwest.  New partnership agreements were also formed with third-party distributers throughout Southeast Asia, and in early 2011, Smartcool expanded its reach with a distribution agreement that serves several countries throughout Eastern Europe.  With the recent acquisition of a well-established distributor in the UK, Smartcool also plans to continue its revenue growth through additional installations in grocery store chains, data centers, telecommunication firms, and convenience stores throughout Europe and North America.

Smartcool's focused sales effort on a customer base with multi-site installations has resulted in greater market penetration, and has enhanced profitability by developing a more cost effective sales effort.

The full 2010 Financial Results with MD&A are available at the Smartcool website.

About Smartcool

Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world.  The ESM™ and ECO³™ are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems.  Energy savings and energy cost savings achieved by the ESM™ and ECO³™ are quantifiable and these products may qualify for government subsidies and utility rebates. Smartcool technology has undergone rigorous testing and has been validated by governmental organizations, public utilities, and private businesses. www.smartcool.net

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE SmartCool Systems Inc.