DALLAS, TX--(Marketwired - Jun 29, 2017) - Zen Technologies, Inc. (Zen), a wholly-owned subsidiary of The Chron Organization, Inc. (
As of today, Zen is officially embarking on installations for this first of seven signed contracts with commercial customers across the country. Today's deal, plus the other six scheduled over the next 30 to 60 days, will serve as a testing ground for how the Company ultimately decides to fund the installations of its efficiency upgrades at various commercial customers across the country, otherwise known as its flagship service offering, the Zero-Cost Program. The Company remains in negotiations with strategic third-party finance partners to fund its Zero-Cost projects on an ongoing basis, and with the ability to scale unhindered. The Company expects to have more announcements on these developments over the third quarter.
These first seven Zero-Cost Program deals range in contract value from $70,000 up to $875,000 per deal. Moreover, the Company is actively engaged with several other committed customers, which it hopes to onboard starting now and through the end of the year. Over the past four months, the Company has been conducting site surveys and energy audits at various properties representing an approximate 50 additional future deals. It is expected that the Company's commercial efforts will ramp up significantly over the next two quarters. The Company recently provided a detailed explanation of the Zero-Cost process and its long-term revenue potential in a recent blog. You may access that blog here.
CHRO CEO, Alex Rodriguez, said, "After many months of conducting site surveys, information gathering, and data processing, we are very grateful to be able to actually start the installation process. This is truly a monumental event for the Company. As we have been saying for some time now, these initial deals represent additional follow-on opportunities for us to fill our commercial services pipeline over the next few years."
CHRO Chairman, Byron Young, added, "Each of these deals represents, at a minimum, a five-year revenue stream for the Company. I expect that our shareholders will begin to see the long-term value proposition that this Company is creating in the marketplace."
ABOUT ZEN TECHNOLOGIES, INC.
Zen Technologies, Inc. (Zen), a wholly-owned subsidiary of The Chron Organization, Inc. (
ABOUT THE CHRON ORGANIZATION, INC.
The Chron Organization, Inc. (
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in our Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.