Arizona-Based SKYE International Takes Final Step toward Production
Skye Submits Its FORTIS™ Tankless Water Heater Products to UL for Certification
SKYE International, Inc. (OTCBB:SKYY) announced today that it has taken a major step towards commercial production of its highly anticipated FORTIS™ line of multi-patented, tankless electric water heaters by submitting several of its FORTIS™ units to Underwriters Laboratories Inc. (UL) for review and certification. After three years of development, Skye recently completed the final engineering and testing of its proprietary FORTIS™ tankless water heater products and obtaining UL certification is the last step to pave the way for commercialization. UL is an independent public safety standards and compliance testing facility whose product safety certification is recognized and trusted by consumers and regulatory agencies worldwide. The UL certification process is expected to be completed in 5 - 6 weeks.
The introduction of the FORTIS™ line of tankless electric water heaters will allow FORTIS™ owners to experience the freedom of virtually endless hot water and the energy savings that result from the ultra-efficient appliance. SKYE President Perry Logan stated, “We believe the FORTIS™ product line will set a new industry benchmark and we are excited that it will soon be available to consumers worldwide. From the high-end stainless steel finish and uncompromising component quality, to its industry leading performance, we believe the FORTIS™ has brand features that discerning home buyers will recognize and prefer when choosing a whole house water heater. With over 10 million water heaters replaced or installed in new homes every year in the US, we are confident that Skye's FORTIS™ tankless water heaters can secure a respected place in the industry.”
Tankless electric water heaters (a fraction of the size of traditional holding-tank style water heaters) have long been popular in Europe and Asia and the demand in the North American market has recently been increasing substantially because of consumer awareness of the obvious technological advantages of tankless water heaters; hot water that is continuously available and on demand (as compared to traditional water heaters which exhaust their hot water supply), significant economic advantages (water is only heated as needed) and obvious health benefits (no stagnant water storage). In addition, consumer trends now show a marked demand for state-of-the-art, high-quality and brand preference when selecting home appliances like refrigerators, ovens and plumbing fixtures. Even water heaters are gaining consumer brand recognition and SKYE aims to be the premium brand of choice for the benefit-aware consumer who is looking for what is best for their home and ready to shift from old technology to a better, advanced and more efficient water heating process.
In February 2006, Skye entered into a nonexclusive manufacturing agreement with Jabil Circuit, Inc. (NYSE:JBL) for the production of FORTIS™ tankless water heaters. Jabil, one of the world's largest international contract product manufacturers, is contracted to build Skye's initial FORTIS™ units at its Tempe, Arizona, facility.
