PALM BEACH, Fla., Aug. 20, 2013 /PRNewswire/ -- Global Digital
Solutions, Inc. (GDSI), a company that is positioning itself as a
leader in providing small arms manufacturing, knowledge-based and
culturally attuned social consulting combined with complementary
security and technology-related solutions in unsettled areas,
announced today that it has signed an exclusive letter of intent to
acquire Cool Sound Industries, Inc. (CSI), a pioneer in harnessing
sound waves to provide sustainable, eco-friendly ways to power
heat-pumping systems such as air-conditioners, refrigerators and
heating systems. GDSI believes thermoacoustic technology (TA)
has the potential for game-changing defense-related and commercial
applications.
The companies have agreed, on an exclusive basis, to enter into
good faith discussions involving a potential strategic combination
in which CSI would be acquired by GDSI. If the acquisition is
completed as expected, CSI will continue to operate as a subsidiary
of GDSI. The exclusive agreement is subject to the completion
of due diligence reviews by both companies and certain other
conditions.
CSI's patented technology efficiently induces high-amplitude
sound waves into a mixture of harmless gases which creates
oscillations in pressure, temperature and volume. The
oscillations are then harnessed to drive eco-friendly air
conditioning, heating and refrigeration systems. The mechanical
simplicity of thermoacoustic engines eliminates the need for gears,
pistons, valves, timing chains and lubrication, which most
conventional compressors are totally dependent upon and they need
more frequent maintenance. Thermoacoustic engines may be
expected to last two-to-three times longer than most conventional
air-conditioning systems and can be designed to run on lower
voltages from solar cells, batteries or the standard power grid and
can even be designed to convert waste heat into sound waves that
can power heat pumping systems.
"We think this could be a real game-changer," said GDSI's
President and CEO Richard J.
Sullivan. "TA technology could change the rules of
engagement, so to speak, in a variety of commercial and
defense-related applications. For example, we envision many
TA heating and cooling applications in connection with military
vehicles, submarines and facilities. In the not-too-distant
future, 140 nations that are signatories to the Montreal Protocols
will be scrambling to find a way to bring their air-conditioning
equipment into compliance with the new regulations, which forbid
the world-wide manufacture or use of any ozone destroying or planet
warming refrigerants. After examining the potential of a
range of innovative technologies that fit into our global growth
strategy, we think TA technologies are poised for especially strong
near and long-term growth. In fact, we have concluded that
thermoacoustics could be the next technology wave, eventually
supplanting most of the current, climate-damaging,
high-maintenance, vapor-compression applications in much the same
way that transistors made vacuum tubes obsolete.
Cost-efficient, climate-friendly heating and cooling technology is
a top priority in both the defense and commercial arenas in the
U.S. and around the world. Put simply, the goal of the
GDSI-CSI combination is to ride the sound wave to a Freon-free
future, leading the way in the development and widespread adoption
of thermoacoustics."
Richard Sullivan has a proven
track record of success as a pioneering advanced technology
entrepreneur. In 2001, Sullivan received the prestigious World
Economic Forums Award for Advanced Chip Technology presented in
Davos, Switzerland. He served as
Chairman and CEO of Applied Digital Solutions, where he executed a
technology rollup involving 42 acquisitions that succeeded in
increasing the company's share price from $2.50 to a peak of $18 per share. During Sullivan's decade-long
tenure as Chairman and CEO, Applied Digital was one of the highest
volume traded stocks on NASDAQ. Sullivan also served as Chairman
and CEO of Digital Angel Corporation and led the effort to spin off
VeriChip Corporation. In 1970, he was a founding member of the
management team of Manufacturing Data Systems, Inc., which listed
at $7.50 per share and was sold to
Schlumberger N.V. in 1980 at $65 per
share.
CSI founder, Frank Wighard, who
holds a patent for a revolutionary double-acting thermoacoustic
driver – which requires no lubrication and generates twice the
power density of competing drivers – also commented on the planned
partnership with GDSI: "I'm very excited about partnering
with GDSI and particularly with Dick
Sullivan. Dick and I have agreed to work very closely
together on this very exciting project."
Here is a checklist of the comparative advantages of TA
technology over conventional air-conditioning and refrigeration
systems:
- No ozone depletion
- No greenhouse effects
- High energy efficiency using the existing power grid
- Compatible with solar power applications
- Low initial equipment costs
- Low maintenance costs
- Very long operating life cycle
For a detailed, third-party account of the history and potential
of thermoacoustics, read this American Scientist article,
The Power of Sound.
Watch this You-Tube video for a basic, easy-to-follow
demonstration of thermoacoustic technology being used to power a
refrigerator. Although this video does not show Cool Sound's
advanced technology in action, the demonstration is still useful
for understanding the principles behind thermoacoustics.
Toward a Freon-Free Future: Background on the 1987
Montreal Protocol on Substances that Deplete the Ozone
Layer and North American Proposals in April 2013
The original Montreal Protocol, signed in 1987, was the first
step in international efforts to protect stratospheric ozone. Since
that time, the Montreal Protocol has been repeatedly strengthened
by both controlling additional ozone-depleting substances (ODS) as
well as by moving up the date by which already controlled
substances must be phased out.
The section below is excerpted from the U.S. Environmental
Protection Agency's website. For more information about the
1987 Montreal Protocol and the amendments and adjustments made
since 1987, visit http://www.epa.gov/ozone/intpol/history.html
In April 2013, the United States, Canada, and Mexico together submitted a proposal to
phase-down consumption and production of hydrofluorocarbons (HFCs)
under the Montreal Protocol on Substances that Deplete the Ozone
Layer. HFCs are intentionally made fluorinated greenhouse gases
used as replacements for ozone-depleting substances. HFCs are used
in the same applications where ozone-depleting substances have been
used: refrigeration and air-conditioning equipment in homes, other
buildings and industrial operations. Smaller amounts are used in
foam products, aerosols, fire protection systems and solvents.
Like the ozone-depleting substances they replace, most HFCs are
potent greenhouse gases. For example, the most commonly used
HFC, HFC-134a, is 1,430 times more damaging to the climate system
than carbon dioxide. Though they represent a small fraction of the
current total greenhouse gases, their warming impact is very
strong, and their emissions are projected to increase nearly
twentyfold in the coming decades.
If HFC growth continues on the current trajectory, the increase
in HFC emissions is projected to offset much of the climate benefit
achieved by phasing out ozone-depleting substances. HFCs are
rapidly increasing in the atmosphere mostly due to increased demand
for refrigeration and air conditioning, particularly in developing
countries, and because they are the primary substitution for
ozone-depleting substances.
Read this informative report commemorating 25 years of progress
under the Montreal Protocol.
Here is a one-page fact sheet from the U.S. Environmental
Protection Agency (EPA) about the Montreal Protocol.
Here is some additional information about the Montreal Protocol
and the U.S. Environmental Protection Agency's Efforts to reduce
ozone chemicals.
About Global Digital Solutions, Inc.
Global Digital Solutions is refocusing its business strategy on
providing small arms manufacturing, knowledge-based and culturally
attuned social consulting combined with complementary security and
technology-related solutions in unsettled areas. For more
information please visit http://www.gdsi.co.
About Cool Sound Industries, Inc.
Cool Sound Industries was established as a commercial platform
to bring together the various technical disciplines required to
successfully develop residential and commercial air-conditioning
and heating applications for thermoacoustic technology.
Frank Wighard, the company's
founder, has over 35 years of experience in the design,
installation and service of environmental control equipment
(air-conditioning systems). In the late 1990s, Mr. Wighard
recognized the potential benefits thermoacoustic technology could
provide to the field of air-conditioning and financed the initial
feasibility study to start his investigation by collaborating with
the leading researchers in 1996. After analyzing the results
of the feasibility study, he filed the initial patent for his
double-acting driver and system configurations which improved the
efficiency and heat transfer process to make them more suitable for
air-conditioning applications. He has since proposed numerous
improvements to his basic design. His early involvement and
consulting activities have resulted in valuable business
relationships that will benefit the launch and future success of
the company. Visit http://www.coolsound.us
Forward Looking Statements
This press release contains "forward looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The statements contained in this
press release that are not purely historical are forward-looking
statements. Forward-looking statements give the Company's current
expectations or forecasts of future events. Such statements are
subject to risks and uncertainties that are often difficult to
predict and beyond the Company's control, and could cause the
Company's results to differ materially from those described.
The Company is providing this information as of the date of this
press release and does not undertake any obligation to update any
forward looking statements contained in this press release as a
result of new information, future events or otherwise. We
have based these forward looking statements largely on our current
expectations and projections about future events and financial
trends affecting the financial condition of our business.
Forward looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Important factors that could cause
such differences include, but are not limited to the Risk Factors
and other information set forth in the Company's Registration
Statement on Form 10 filed on August 9,
2013, and in our other filings with the U.S. Securities and
Exchange Commission.
Contact:
W.J. Delgado
916-838-8833
info@gdsi.co
Richard J. Sullivan
561-515-6163
info@gdsi.co
SOURCE Global Digital Solutions, Inc.