FLORHAM PARK, N.J., August 18, 2014 -- Boomerang Systems, Inc., (OTCQB: BMER) the innovative U.S. designer and manufacturer of fully-automated robotic parking systems, announced today that construction has commenced inside the structure that will house an automated robotic parking system that the company has been contracted to install at the new 304-unit Costa Hollywood Condominium Resort on the Atlantic Ocean in Hollywood Beach, Florida. On August 8th, the developer, Liberty Grande, LLC, released Boomerang to start implementation of a 175-space parking system using Boomerang’s patented, low-profile AGV-based RoboticValet®.
Boomerang's RoboticValet system is a fully-integrated automated parking solution incorporating robotics, software and hardware. Boomerang’s patented and patent-pending technologies eliminate ramps and sharply reduce the number of drive aisles, allowing up to twice the density of parked cars and requiring as little as half the space taken by a conventional garage. RoboticValet robots drive on concrete slab floors and use a proprietary automated guidance system to transport vehicles to and from parking spaces. Cars’ ignition systems are shut off before being parked, slashing carbon emissions and electricity consumption for ventilation and lighting.
At the Costa Hollywood Condominium Resort, Boomerang's space saving technology permits the developer to more efficiently, effectively and economically utilize its allowable building area and build residential units in space that what would have otherwise been allocated to parking. In addition it provides a unique luxury amenity that compliments the resort’s other array of upscale features.
"We are thrilled to be incorporating our system into this exciting resort project," said Mark Patterson, Chief Executive Officer of Boomerang Systems. "We seek situations where we can save space and add to the value of the real estate, and Costa Hollywood certainly fits that mold.”
Once completed in 2015, the seven-level Costa Hollywood system will be Boomerang’s third automated parking system installed in the State of Florida.
About Boomerang Systems, Inc.
Headquartered in Florham Park, New Jersey, with research, design, testing and production facilities in Logan, Utah, Boomerang Systems (www.boomerangsystems.com) is in the business of marketing, designing, engineering, manufacturing, installing and servicing its RoboticValet automated parking systems.
The Company is the inventor, developer and sole provider of the patented Boomerang RoboticValet automated parking system, which differs from all other automated parking systems in that it offers a fully-integrated solution based upon omni-directional, battery-powered robots, and a proprietary software and robotics guidance system, to carry vehicles to and from storage spaces by driving directly on a concrete slab surface, without the use of a rail or track.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: The Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Boomerang Systems, Inc.'s current views about future events, financial performances, and project development. These "forward-looking" statements are identified by the use of terms and phrases such as "will," "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Boomerang's expectations. These risk factors include, but are not limited to, the risks and uncertainties identified by Boomerang Systems, Inc. under the headings "Risk Factors" in its latest Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. These factors are elaborated upon and other factors may be disclosed from time to time in Boomerang Systems, Inc.'s filings with the Securities and Exchange Commission. Boomerang expressly does not undertake any duty to update forward-looking statements.