Cool Technologies CEO Provides Shareholder Update Letter

Rhea-AI Summary

Cool Technologies, Inc. (OTCQB:WARM) provided an update on its green technologies focused on power generation and cooling systems. CEO Tim Hassett highlighted significant advancements in their technology and intellectual property portfolio over the past year. The company is working towards profitability and has secured favorable funding to accelerate sales. Additionally, a growing backlog of orders signals strong market demand. The firm is committed to refining its product offerings to align with current market needs.

Positive

• Substantial progress in refining product offerings to meet market demand.
• Growing backlog of orders indicating strong demand.
• Efforts to secure funding at favorable terms to boost sales.

Negative

• None.

Management Details Status of Technology Advances, Intellectual Property Portfolio, Funding Efforts and the Growing Backlog of Orders for its Green, Eco-friendly Cooling, Energy Generation and Electric Vehicle Charging Technology.

TAMPA, FL / ACCESSWIRE / February 10, 2021 / Cool Technologies, Inc. (OTCQB:WARM) ("CoolTech"), an innovator and intellectual property company focused on environmentally friendly mobile power generation, and heat removal technologies, provided an update today on the status of their business including funding efforts, the state of its technology portfolio and the growing list of orders that have led to a substantial backlog.

CoolTech CEO Tim Hassett stated, "The past year has been our most challenging but one in which we have made substantial progress in bringing together resources required to initiate revenue, move towards profitability and drive shareholder value. To that end, in the past 12 months, we have focused on refining our product offerings to meet the current market demand, improving our Intellectual Property portfolio and making efforts to secure funding at favorable terms to allow us to begin and accelerate sales and fulfill a growing backlog of orders."

To read the shareholder letter, go to https://cooltechnologiesinc.com/letter-to-shareholders-february-2021/

About Cool Technologies, Inc.

Cool Technologies is an intellectual property and product development company commercializing patented thermal dispersion technology across multiple platforms. The Company has additional patents-pending for various OEM applications of its proprietary heat removal technologies. Tested and validated by two third parties, ESSCO Pumps and Nidec Corporation, the Company's cooling system eliminates the need for costly modifications while increasing power output of pumps, fans, compressors, batteries, motors, generators and bearings.

Safe Harbor Statement.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, read the blog at cooltechnologiesinc.com or contact ir@cooltechnologiesinc.com.

SOURCE: Cool Technologies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/629137/Cool-Technologies-CEO-Provides-Shareholder-Update-Letter

FAQ

What is the latest update from Cool Technologies, Inc. (WARM)?

Cool Technologies, Inc. updated on its advancements in green technologies, securing favorable funding, and a growing backlog of orders.

How is Cool Technologies (WARM) planning to drive shareholder value?

The company is refining product offerings and securing funding to initiate revenue generation and move towards profitability.

What challenges has Cool Technologies (WARM) faced recently?

The CEO mentioned that the past year was challenging but noted substantial progress in the company's initiatives.

What technologies does Cool Technologies, Inc. (WARM) focus on?

Cool Technologies focuses on mobile power generation, cooling systems, and eco-friendly energy solutions.

What is the significance of the growing backlog of orders for Cool Technologies (WARM)?

The growing backlog signifies strong market demand for Cool Technologies' products and services.