MILPITAS, Calif., Dec. 18, 2020 — Coolisys Technologies Corp.® (“Coolisys®”) announced that it has entered into an agreement with a franchisee to install and test the ACECool™ electric vehicle (“EV”) chargers at three Tim Hortons quick service restaurant locations in Canada as what the Company hopes will be the first step of a revenue sharing program targeting both national and regional fast-food franchisees. According to Franchise Direct, Tim Hortons is the largest restaurant chain in Canada. The site survey, provisioning and construction are expected to begin in the first quarter of 2021. While the Company is encouraged by Coolisys’ pilot program, there is no assurance that it will be successful.
The Company expects that the program, assuming it develops as the Company presently anticipates, will allow franchise owners and operators to install the ACECool™ EV chargers and share in the net revenue from advertising and network usage. This program is anticipated to be a model for other strategic industry-focused and geo-focused networks. Coolisys is in discussions with multiple franchises and presently expects to announce other network partners in the first quarter of 2021.
Amos Kohn, President and CEO of Coolisys, said “We are optimistic about the launch of the ACECool™ EV charger pilot program for fast food franchisees. The opportunities for Coolisys in the growing EV marketplace are expected to drive significant sales growth over the next five years. We believe we are well positioned to address the increased demand for EV chargers, given our 50+ year history of providing innovative and highly-efficient power systems and solutions.”
About Coolisys Technologies Corp.
Coolisys and its portfolio companies and divisions are primarily engaged in the design and manufacture of innovative, feature-rich, and top-quality power products for mission-critical applications in the harshest environments and life-saving, life sustaining applications across diverse markets including defense/aerospace, medical/healthcare, industrial, telecommunications, and automotive. Coolisys’ headquarters are located at 1635 South Main Street, Milpitas, CA 95035; www.Coolisys.com.