Submitted by: Greenscape Capital Group Inc.
Posted: Aug 23, 2011 – 01:23 PM EST
VANCOUVER, B.C., Aug. 23 /CSRwire/ - (Marketwire) - Greenscape Capital Group Inc. (TSX VENTURE: GRN) -
Greenscape Capital Group Inc. ("Greenscape") is pleased to announce that, as part of its mandate to invest in companies that operate in the environmental space, it has entered into a letter of intent (the "LOI") to acquire a 40% interest in the issued and outstanding shares of CapTherm Systems Inc. ("CapTherm") for the sum of $1.9 million at a pre-money valuation of $2.85 million. Greenscape will also have the option to increase its shareholding to a maximum of 46% pursuant to the next scheduled CapTherm financing, expected to take place approximately 24 months after Greenscape's initial acquisition of stock.
CapTherm has developed a revolutionary technology applicable to the high-power electronics cooling industry. Applications of this technology can range from the IT sector (chip-level cooling of servers, workstations, desktops & mobile devices) to Electric Vehicles (thermal management of batteries, insulated gate bipolar transistors & cabinet climate control) to LED lighting to the Military/Space sectors (laser, radar & micro-gravity environments) to Medical Devices (e.g., MRIs).
CapTherm's cooling systems employ a "multiphase" technology to cool high-power electronics. Its increased effectiveness, as compared to traditional air-cooling and recent liquid-cooling systems, can be measured by a factor of thousands and hundreds, respectively. In addition, CapTherm's technology is powered by a solid-state pump (no moving parts) which provides a significant increase in reliability over competing systems. Finally, unlike its older competitors, the multiphase system requires no auxiliary power as the problem (i.e., the heat) provides the fuel to run the system.
The IT sector will be CapTherm's initial focus since that sector has a desperate need for more efficient cooling technologies. Cooling accounts for approximately 30% of energy consumption in the average server datacentre (i.e., those used to host websites, services like YouTube, Netflix, etc....), equating to approximately $12.9 billion/year on a global basis. CapTherm's technology can provide energy savings of up to 35% on those costs.
CapTherm has already negotiated distribution agreements for 12 countries with conditional purchase orders in place. CapTherm expects to launch its products both in the retail market as well as with OEMs (original equipment manufacturers, examples of which include HP, Dell & Apple).
CapTherm Management Team
Timo Minx, CEO & Technical Director. Mr. Minx has an extensive IT & thermal engineering background. As inventor and creator of CapTherm's multiphase technology, Mr. Minx has a strong understanding of all employed manufacturing processes, including Nano powder metallurgy, die casting, plastic injection moulding, EDM/CNC, CAD/CAM and capillary porometry. Most recently, Mr. Minx was awarded 3x CES Innovation and Design honouree awards for different liquid cooling products.
Philipp Fuhrmann, Chief Operating Officer & Business Strategist. Mr. Fuhrmann holds a Master's degree in international law and business management. He has extensive work experience in business development, product management, marketing and market research. His past work environments ranged from start-ups to the marketing, product management and market research departments of multinational corporations such as Henkel Germany and AbertisTelecom S.A. Mr. Fuhrmann also has experience in raising money for start-up companies through angel investors, VCs and government programs.
Greenscape is also pleased to announce it is arranging a $1.65 million financing via a private placement of 10 million shares at $0.165 per share.
CapTherm Systems specializes in the development and commercialization of proprietary next-generation high-power electronics cooling technologies. CapTherm's unique high-efficiency approach is called 'multiphase cooling'. The multiphase technology represents the core of CapTherm's technology and harnesses the raw power of the latent heat of vaporization. Proprietary technology enables CapTherm to solve a broad range of high power electronics cooling challenges across a variety of applications. www.captherm.com
Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape Capital is focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. When opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals. www.greenscapecapital.com
ON BEHALF OF THE BOARD
C. Mark Devereux, CEO and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. In particular, there is no assurance the Company will be successful in raising the $1,650,000 equity financing on the terms as contemplated, or at all, and no assurance can be made that the Company's plans to acquire a 40% interest in the issued and outstanding shares of CapTherm Systems Inc. will be realized.
Neither the 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 news release.