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From: JervisCapital8/16/2017 10:28:33 AM
   of 119163
 
$MKRS

Mikros Systems Announces Memorandum of Understanding with Elliott-Lewis Corporation to Offer Secure, Predictive HVAC Maintenance Solution

finance.yahoo.com

PRINCETON, N.J., Aug. 16, 2017 (GLOBE NEWSWIRE) -- Mikros Systems Corporation ( MKRS) and Elliott-Lewis Corporation announced today that they have entered into a memorandum of understanding to offer a condition-based maintenance solution for Heating Ventilation, Air Conditioning and Refrigeration (HVAC) equipment.

Mikros will provide hardware and software development, system integration and test services based on its proprietary Prognostics Framework solution. Elliott-Lewis will provide subject matter expertise and technical consulting services for requirements definition, on-site installation and testing. Currently, Mikros and Elliott-Lewis have two active pilot systems that are providing key maintenance data on a daily basis to their technicians.

According to a July 2016 report, the market for HVAC services is expected to reach over $90 billion by 2022. The Mikros/Elliott-Lewis maintenance solution aims to help property owners and managers increase the reliability and security of their HVAC systems. By integrating real-time and historical performance and reliability data from multiple sources, the solution can reduce system downtime, recommend proactive maintenance and decrease the likelihood of catastrophic failure.

“Building management is the tip of the spear in the industrial internet-of-things,” commented Mark Malone, Mikros Vice President of Commercial Markets. “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. Together with Elliott-Lewis, an industry-leading service provider, we will provide property managers with a more cost-efficient, reliable and secure HVAC system monitoring and maintenance solution.”

“For over a century, Elliott-Lewis has delivered unparalleled service to our customers,” stated Jim Pizzi, Elliott-Lewis Vice President and Chief Operating Officer. “We are constantly evolving to meet customers’ expectations and deliver innovative and effective solutions. We are proud to partner with Mikros Systems to offer the next generation of HVAC maintenance service that will be proactive, vigilant and secure.”

ABOUT MIKROS SYSTEMS CORPORATION
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/news-events/ for more information.

ABOUT ELLIOTT-LEWIS CORPORATION
Since 1905, Elliott-Lewis Corporate has been providing its clients with solutions that enhance their customers’ health, comfort, safety, durability, reliability and energy efficiency in their facilities. Elliott-Lewis has established itself as the premier HVAC/R service company in the Delaware Valley, providing complete maintenance, repair, and operations, engineering, design, installation and energy solutions. In addition, Elliott-Lewis offers building automation, ultra low-temp refrigeration, process piping, and plumbing services. Elliott-Lewis’ Facility Management Group provides customized on-site building operations management.

CONTACT: Thomas J. Meaney - (609) 987-1513
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