Canada-based Smartcool Systems Inc. signed a license agreement with Connected Holdings, a Newport Beach, Calif.-based leader in machine-to-machine and Internet of Things (IoT) platforms. As part of the agreement, Connected Holdings will be responsible for the development of a cellular-enabled device featuring a cloud-based Smartcool algorithm application for integration with HVAC control systems.
Connected Holdings will fund the development work and manage the production of these new devices and cloud services. Connected Holdings will also provide a cellular-enabled device, designed to allow connectivity and reporting for existing Smartcool ECO3 products. Smartcool will distribute products and services created by Connected Holdings through its existing distributors and sales agents.
“Since signing the letter of intent in January, our team has been developing a go-to-market strategy for our Smartcool algorithm-enabled products,” says Eric Collins, chairman and president of Connected Holdings. “Initial beta test sites have been established and a full rollout of the initial products is expected in the next few months. We are confident that our service model approach can provide a breakthrough value proposition for rapid sales growth. We are anticipating a successful relationship with Smartcool Systems.”
“Working with Connected Holdings is a major step forward for Smartcool,” adds Ted Konyi, chief executive officer of Smartcool. “Staying abreast of changes in technology is a challenge for any small company. By teaming up with Connected Holdings, who are leaders in the growing IoT space, Smartcool will gain services, technical expertise, manufacturing capability and cloud network connectivity. This relationship will not only provide financial rewards from the success of Connected’s efforts, but also assist in our goal of providing our distributors and sales agents updated tools to further develop existing markets and capture new markets.”