For a period of five years, PowerCold has the exclusive right to purchase Caltrel material for use in fluid coolers and fan coil heat exchangers for HVAC applications. For a period of at least two years, DuPont will sell and deliver, and PowerCold will purchase and accept from DuPont, Caltrel plastic tubing. PowerCold has the first option to purchase the DuPont production equipment to produce Caltrel tubing, and agrees to purchase resins required for the production of the tubing solely from DuPont.
In January 2003 PowerCold first announced collaboration with DuPont to test new plastic materials for air conditioning units, and entered into a joint development agreement and a license agreement relating to DuPont Caltrel fluid energy transfer system applications in May 2003. PowerCold has applied to the U.S. Patent Office for a new modular design heat exchanger patent that features flexible designed plastic components. PowerCold's proprietary PlexCoilÂ® fan coil air handler, primarily used in commercial buildings for room air distribution, was the first application designed for the new plastic heat exchanger. PowerCold has also developed and installed new fluid coolers of various sizes that incorporate Caltrel plastic tubing.
PowerCold's CEO Frank Simola commented, "Our business plan is to develop and market unique plastic heat exchanger products. We envision certain strategic applications that have huge marketing opportunities. Caltrel plastic tubing supports new product innovation and provides an alternative for the retrofit market replacing the massive number of installed copper and aluminum heat exchangers as they age and fail. We have developed and are field testing a residential unit and have installed various commercial applications. We are developing individual plastic kits of plastic tubing and plastic components for OEM companies - four are in test phase - that produce their own related products and desire to greatly enhance their product lines with the new plastic material."
Publication date: 10/17/2005