American Resource Management, Inc., a Tulsa-based provider of chiller efficiency software, announced today that they have signed an agreement with GemStone Securities, LLC of Clearwater, FL to raise $7.5 million for expansion, promotion and sale of EffTrack chiller monitoring and diagnostic software in the U.S., Australia and the Asian-Pacific Rim.
Recently, Efficiency Technologies, Inc., a subsidiary of American Resource Management signed an exclusive Master License Agreement with EffTec-Australia. The EffTec-Australia chiller market is driven by the demand for energy conservation, the reduction in green house gas emissions, and the scarcity of water resources.
The Asian Pacific Rim is one of the fastest growing population regions on the globe. Subtropical climate requires continuous chiller operations and when coupled with high energy costs, make chillers the major consumer of electricity in the dense population centers and resort areas of the Asian Pacific Rim region.