Mississauga, Ontario based Pioneering Technology Corporation [TSXV: PTE], is an “energy smart” technology company engaged in innovative cooking fire prevention technologies. Pioneering engineers and brings to market energy-smart solutions for everyday consumer appliances making them safer, smarter, and more efficient. The company’s patented technologies address a multi-billion-dollar problem – cooking fires. According to the National Fire Protection Association, stove top cooking is the number one cause of household fire and fire injuries in North America (48% of all household fires – up from 20% in 1980).
The Company recently announced a new U.S. distribution agreement with an unnamed organization, however it was mentioned that the mystery distribution company has revenues nearing $2 billion and is owned by one of the world’s largest retailers having more than 175,000 customer locations and holds leading market positions in the institutional, multi-family housing and residential end-markets.
Share volume of Pioneering has been gain momentum lately seeing a share price increase of over 30% since early June, 13% of that increase at today’s closing price of $0.34 on above average volume.