PRINCETON, N.J., April 17, 2019 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS), an advanced technology company specializing in advanced maintenance in military, industrial and commercial applications, and Energy Professionals, LLC, a national leader in helping organizations to significantly reduce energy costs and reach energy sustainability objectives, announced today that they have commenced a pilot program to offer data collection for energy consumption and condition-based maintenance solutions for commercial and industrial applications.
Mikros will provide hardware and software development, installations, system integration and test services based on its defense-grade proprietary Prognostics Framework® solution. Energy Professionals will provide subject matter expertise, energy planning and budgeting and consulting services. This pilot system will provide key maintenance data on a daily basis to technicians and facility managers in commercial and industrial markets.
According to a July 2016 report, the market for HVAC services is expected to reach over $90 billion by 2022 and these systems consume large amounts of energy. The pilot system will allow Energy Professionals to develop a more sophisticated energy profile for its customers that will save money and work within their long-term budget plans. The Mikros/Energy Professionals solution aims to help property owners and managers increase the reliability and security of their systems and develop a plan for energy solutions. By integrating real-time and historical performance and reliability data from multiple sources, the solution will reduce power consumption, decrease system downtime and recommend proactive maintenance all within a realistic budget.
"Extending our proven military maintenance systems, which use remote monitoring, defense-grade cybersecurity and predictive analytics, to the building maintenance market is the logical next step for Mikros," said Mark Malone, President of Mikros Systems. "Together, with Energy Professionals, an industry-leading energy consultancy, we will provide a more cost-efficient, reliable and secure building monitoring system and an excellent energy program that provides savings to commercial property owners."
Jim Mathers, President and CEO of Energy Professionals added, "Mikros Systems' monitoring technology brings a new level of rigor and security to the commercial and industrial energy market that has never been seen before. Their background in developing Energy Intelligence solutions for the U.S. Navy will bring about significant cost savings and operational efficiencies for our current and future clients."
About Mikros Systems
Mikros Systems Corporation is an advanced technology company specializing in the development and production of electronic systems technology for advanced maintenance in military, industrial and commercial applications. Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, command, control, communications, computers and intelligence systems engineering, and communications engineering. Please visit mikrossystems.com for more information.
About Energy Professionals
Energy Professionals, LLC, founded in 1999, has provided utility relief, energy intelligence, and renewable solutions to over five million consumers of Natural Gas and Electricity. For more information, visit: www.EnergyProfessionals.com.
Important Information about Forward-Looking Statements
All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, significant delays or reductions in appropriations for our projects, the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, our ability to adequately integrate our software offerings into our business model, our ability to market our solutions to commercial customers, numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2018 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.
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SOURCE Mikros Systems Corporation