Sofame, Soffimat partner on heat recovery equipment

Montreal-based Sofame Technologies (TSX: SDW), a manufacturer of commercial-industrial heat recovery equipment, signed a deal for Paris-based Soffimat to represent Sofame as its exclusive distributor in France.

Under the memorandum of understanding, Sofame said Soffimat could also act as its exclusive distributor throughout Europe, the Middle East and North Africa, pending agreement of the parties.

Richard Groome, chairman of Sofame, said, "our new relationship with Soffimat is expected to present many new opportunities in the coming months."

"Our plan is to deploy Sofame's technology with several strategic partners worldwide over the next twenty four months."

Sofame said that Soffimat, a contractor, operator and owner of power projects, plans to initially install Sofame's direct contact heat recovery condensing boilers in several of the power plants Soffimat currently owns or operates in France.

Sofame said its systems extract up to 99 percent of heat from flue gases, depending on the application, and also from wastewater, and return the energy in the form of high temperature hot water or preheated make-up air.

The deal with Soffimat comes just after Sofame reported that it's on the lookout for a new CFO.

Sofame previously announced that Thérèse Lirette, who acted as CFO for a number of years, has moved on after more than fifteen years with the company.

Sofame said recruitment of a new CFO is under way.

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