SHM Controls partnered with Point of Choice, to deliver its control systems to 2,300 US public schools
SHM Controls entered into a partnership agreement with Point of Choice (http://www.pointofchoice.net) of Fairfield, Iowa for the purpose of delivering SHM’s IIoT HVAC control systems to approximately 2,300 US public school districts serviced by Point of Choice. First installations in select schools in Des Moinse, Iowa are scheduled for Jan-Feb 2019.
SHM Controls was showcased as a Keiretsu Capital portfolio company at the Opal Family Office Forum, Napa, CA
SHM Controls was showcased as a Keiretsu Capital portfolio company at the Opal Group Family Office Forum in Napa, CA. During the 3 days event the company’s CEO, Oded Malky was giving presentations to family office executives, participated in panel discussions and shared the company’s unique solution for energy efficiency in apartment buildings, offices and schools.
SHM Set to Expand Rapidly Throughout the US and Canada With Major Distribution Partners After Closing First $500k of $1M Round
SHM Controls' Board of Directors announces successful close of USD $500K capital raise ahead of the scheduled October 31st initial close. A significant increase in pending and projected system installations prompted the Board to approve over-subscription of up to USD $1,000,000, with a second close scheduled for January 31st 2019.
VANCOUVER, BRITISH COLUMBIA (PRWEB) OCTOBER 22, 2018
SHM Controls Inc. ("SHM Controls" or the "Company"), a developer of a IIoT HVAC control system (the SHM Controller) and wireless sensor technologies, has successfully closed its USD $500,000 capital raise ahead of schedule.
SHM Controls attracted the interest of angel investors, VC funds and investment bankers from the Pacific Northwest, Florida, and New York during this most recent capital raise.
Given the substantial investor interest, and the significant increase in the Company's pipeline of pending and potential installations in British Columbia and across the US, the Board of SHM Controls approved an oversubscription of an additional USD $500,000 with a second and final close for the round on January 31st 2019.
"I'm excited about the year to come. I've got the capital necessary to execute my plan, and our pipeline is exceeding expectations," says SHM Controls' CEO Oded Malky. "Our distribution partners are doing a great job, and pilot customers are clamouring to roll out SHM installations throughout their building portfolios."
"We already have our 2019 sales forecast in the funnel! It's great to see the results of Oded's disciplined execution and steadfast approach. As an angel investor, this is exactly the type of CEO, team, and company I like to back," added Sean Melrose, early SHM investor and now VP Finance, SHM Controls.
About SHM Controls Inc.
SHM Controls is headquartered in Vancouver, BC. SHM Controls has developed a low-cost smart wireless IIoT HVAC controller for buildings and offices that reduces energy consumption by up to 30%, offers full remote access, control, and automated email/text alerts in the event of mechanical equipment failure. It transforms a building's existing set of independent thermostats into a networked array of Industrial IoT sensors, controlled and optimized by a system-wide machine learning, energy saving algorithm. Dozens of building installations in the Pacific Northwest and the US Eastern Seaboard have demonstrated unprecedented energy savings over the 5 year data collection period. For more information, visit http://www.shmcontrols.com
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
SOURCE SHM Controls Inc.
For further information: Oded Malky, Chief Executive Officer, SHM Controls Inc., T: 604-637-7025 Ext 801, firstname.lastname@example.org; Sean Melrose, VP Finance, SHM Controls Inc., T: 604-483-5544, email@example.com
Oded Malky, CEO at SHM Controls, gave a 90s update presentation for the VANTEC forum, at Venture Labs in Vancouver. VANTEC was the very first forum to which SHM Controls pitched its idea for an IIoT HVAC controller 3 years ago. That first presentation resulted in the company’s first seed round investment from Mike Volker and WUTIF Capital.
Oded Malky, CEO at SHM Controls, gave a full update presentation at the Victorian style Yale Club in NY to a crowd of 140 investors, venture capitals and investment bankers. The company announced new signed deals, a growing sales pipeline and an almost fully funded "Bridge to Profitability" financing round.
SHM Controls gave a 3-min update presentation to Keiretsu Northwest chapters: "Bridge to Profitability"
Oded Malky, CEO at SHM Controls, gave a 3-min update presentation at the Keiretsu Forum Northwest, September 2018. The company announced recently a change to the target raise of the current round of financing due to a growing sales pipeline, and defined it as "Bridge to Profitability"
SHM Controls was invited to present to the 100+ member-strong New York Angels in Manhattan. Sean Melrose, SHM’s VP of Finance, presented to an engaged room, triggering interest from a number of their members and an invitation for SHM to return the following week for further due diligence.
Oded Malky and Sean Melrose of SHM Controls presented the company to the entire membership of Keiretsu NW (Tacoma, Vancouver, Bellevue, Seattle, Portland). This was a follow up tour after the first successful presentations tour almost two years ago, which resulted in investments both from individual Keiretsu members as well as from Keiretsu Capital, the forum's co-investment fund.
SHM Controls was invited to present its products and investment opportunity to a select group of 25 family office professionals at Club 101 in Manhattan, NY. The event is organized annually by Landmark Angels (Greenwich, CT).
SHM Controls, which is an Alliance of Angels portfolio company, gave an update presentation to the group members in Seattle, WA. As always this was a well organized event in a nice venue and it was nice reconnect with familiar faces. The brief presentation by Oded Malky ignited many conversations and investment interest from additional AoA members.
SHM Controls gave an investor presentation to a crowd of 250 attendees at the Private Equity Forum. The Yale Club in Manhattan, NY with its old architecture was a great setup, following by hours of quality networking between presenters and investors.
Oded Malky presented to Family Office real estate professionals at the Family Office Summit in Miami, FL
Oded Malky gave tips for energy efficiency in HVAC systems to hundreds of real estate family office professionals, at the Family Office Real Estate Summit in Miami, FL. Chris Ainscough, the company’s VP of Business Dev was at our display table, answering the many questions from interested attendees.
Entrepreneur Organization Real Estate Subgroup invited Oded Malky to present SHM Controls at their annual meeting in Birmingham, AL. SHM Controls recently installed several of its controller systems in properties owned by one of the group members. After seeing immediate and considerable energy saving results, that member wanted to share this success story with the rest of the group and in the process provide more exposure to SHM and its systems.
Oded Malky (CEO, SHM Controls) was interviewed today by Richard Wilson (the Family Office Club) talking about SHM Controls products and technology, how it all started and why it is working so well.
SHM Controls presented yesterday at the Landmark Angels venture event at Greenwich, Connecticut, a well organized full day investor event. Many individual and family office investors were in attendance, listening to the presentations and networking around the presentation tables. We are excited and looking forward to the follow up meetings, some of which had already been scheduled.
SHM Controls will have an exhibit table and give a full presentation at the Real Estate Family Office Summit in Miami, FL on May 15, 2018. 450 attendees are expected and the presentation will be on: "HVAC Efficiency in Commercial/Multi-Res Properties: Practical Solutions to Improve Your Bottom Line"
We are expanding into the USA: SHM Controls installs several controller systems in a building complex in Syracuse, NY
SHM Controls completed a successful series of controller system installations in a building complex located in Syracuse, New York. The owners, operators and HVAC technicians benefit also from our new remote access facility using a secure browser, seeing all properties on a single map view and having a direct live interface connection to the actual controllers on site.
SHM Controls completed successfully a series of controller system installations in several individual buildings in Victoria, BC - all properties owned by the same owner.
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