MIAMI, June 1, 2012 (GLOBE NEWSWIRE) -- Advantix Systems, a leading manufacturer of energy efficient dehumidification and air conditioning technology, today announced that it has named technology veteran Dion C. Joannou as the company's chief executive officer. Joannou, 46, joins the company with extensive global operating experience in technology, consumer, and health care businesses. He currently sits on the boards of Dialogic and GoNet Systems, two leading technology solutions providers. Mr. Joannou has recently served as an advisor to several high-growth businesses of wide-ranging size, and previously served in various roles at Nortel Networks for 14 years.
"Advantix Systems' innovation in HVAC technology has the ability to transform the energy efficiency of buildings on a global scale," said Joannou. "Advantix has a talented executive team, game-changing technology and a world-class customer base. I am excited to take on a much more active role in bolstering this next phase of our growth strategy."
With an installed base exceeding 800 systems worldwide, Advantix Systems has demonstrated that it is possible for commercial and industrial manufacturers to seamlessly integrate energy efficiency improvements into their operations to directly lower operating expenses and mitigate the risk associated with rising energy costs.
Advantix's innovative liquid desiccant technology uses a salt water solution to reduce humidity in the air while cooling it at the same time. It can achieve an energy savings of 30 to 50 percent in its core product line, and up to 80 percent with the integration of renewable energy sources. Kraft Foods, P &G, GlaxoSmithKline and Hilton Hotels are among the commercial and industrial companies around the world that have turned to Advantix to meet their mission critical, dehumidification needs. Schools, condominiums, hotels and supermarkets are also taking advantage of this innovative technology to provide improved air quality and reduce humidity while significantly saving energy.
"Putting Dion at the helm of our rapidly growing enterprise reinforces our intentions of becoming a major player in clean technology manufacturing," said Dan Forkosh, co-founder and transitioning CEO of Advantix Systems. "His proven management and operational expertise, leading thousands of employees responsible for billions of dollars in revenue, will help evolve Advantix as we prepare our organization for the scale and complexity that comes with expansion." Forkosh will retain his position as chairman of Advantix's board and assume the position of president of the company, focusing on its expansion in Asia as well as continuing to drive product development and production efforts.
The global HVAC market is valued at more than $150 billion annually and is expected to have a six percent growth in demand each year between now and 2014. In addition to the momentum building within the HVAC industry segment, Advantix Systems is being catapulted by the $100 billion global humidity market. The opportunity to move into emerging areas like China, India and Southeast Asia is also giving the company an enormous platform from which to grow and capitalize on the need for energy efficient and cost-effective HVAC solutions.
"As we approach our third year of operation, our proven, innovative technology has been validated by hundreds of successful installations and we are already working with some of the biggest global brands in the world," said Hannah Choi Granade, President of Advantix Systems' U.S. operations. "The addition of Dion Joannou reinforces our success to date in delivering energy efficient solutions to our expanding customer base of global Fortune 1000 companies."
Joannou received a B.S. in Business Administration with a concentration in marketing at Southern Illinois University Edwardsville and an MBA in International Studies from the University of Miami.
About Advantix Systems
Advantix Systems is a leading clean tech manufacturer of efficient air conditioning and dehumidification equipment that delivers energy savings of 30 to 80 percent in commercial and industrial applications. A pioneer in harnessing liquid desiccant, Advantix's energy efficient, clean technology delivers cooling with powerful, precise humidity control, substantial cost savings and improved indoor air quality. With competitive first costs in both new and retrofit applications, Advantix offers compelling economics, better performance, and an improved environmental footprint. With an installed base exceeding 800 systems worldwide, the company's innovative technology is being used by Kraft Foods, P &G, GlaxoSmithKline, Hilton Hotels and many other Fortune 500 companies. For more information, please visit www.advantixsystems.com.
The Advantix Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13117
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=13116
CONTACT: Susanne Sanchez, Sr. Marketing & Communications Manager email@example.com (305) 503-0446, ext. 3812
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