FLORHAM PARK, N.J., Nov. 6, 2012 / -- Boomerang Systems, Inc., (otcqb:BMER) a leading designer and manufacturer of automated robotic parking and self storage systems, announced today that it has executed an agreement to provide 480 parking spaces via its innovative RoboticValet(TM) Parking System to the BrickellHouse development in Miami, Fl. Recently featured in the Wall Street Journal as part of an article on Miami's real estate revival, the $180 million BrickellHouse, which broke ground in July, is being developed by the Newgard Development Group and will be one of the first high-rises built in the Miami market since the 2008 economic downturn.
Boomerang's RoboticValet(TM) Parking System is a revolutionary parking solution powered by robots that drive on concrete slab floors to transport vehicles to and from parking spaces. The technology eliminates the need for building ramps and reduces the number of drive aisles allowing the cars to fit in roughly half the space required by a conventional garage. Because cars are shut off before being parked in the garage, carbon emissions are reduced and less electricity is used for ventilation and lighting. In the case of BrickellHouse, Boomerang's technology will allow the developer to use this saved space in order to build more saleable resident living space.
"We are thrilled to be working with the Newgard Group on the BrickellHouse project, which we believe is positioned to set a new standard in the Miami luxury market," said Chris Mulvihill, President of Boomerang Systems. "We are confident our technology is ideal for this type of project where space is at a premium and where the market places high value on convenience, safety and modern building technology while delivering environmentally friendly solutions. We are proud to showcase what we believe is the most advanced automated parking technology in the world through this high-profile development."
The BrickellHouse is a 46-story, luxury residential condominium with bay, ocean and skyline views, and is being developed by the Newgard Development Group. The sleek, modern building will feature 374 units and will also include a rooftop pool deck, luxury health spa and fitness center. BrickellHouse is leading the charge in Miami's second condo boom with 90% of the residential units already sold. The project is currently under construction and is anticipated to be completed in 2014.
"When I first witnessed Boomerang's RoboticValet(TM) system in action, I recognized it as a game-changer that could be an ideal fit for BrickellHouse," said Harvey Hernandez, managing director of the Newgard Group. "We looked at a number of automated parking systems, but we chose Boomerang based on the unique advantages of their system as well as for the fact that they are a US manufacturer. We want residents at this development to know that they are being provided state-of-the-art technology that will enhance their lives while also reflecting the latest green innovations, and Boomerang's solution perfectly fits these criteria. Delivering those core consumer benefits, while allowing us to use the space saved by automated parking to develop more residential units makes this choice a win-win for us and our residents."
The BrickellHouse development represents Boomerang's fourth automated parking project under contract in Florida. The company also has automated parking projects contracted in New Jersey, Virginia, Kansas, Mississippi and California.
About Boomerang Systems, Inc.
Headquartered in Florham Park, NJ, with research, design, testing and production facilities in Logan, UT, Boomerang Systems, Inc. (www.boomerangsystems.com) is in the business of selling, designing, engineering, manufacturing, installing and supporting its own line of fully automated parking systems and fully automated self-storage systems.
The Company is the developer and sole provider of the Boomerang RoboticValet(TM) automated parking system which differs from legacy mono-path automated parking systems in that it transports vehicles on a flat solid concrete slab without the use of a rail or track.
Prior to starting Boomerang in 2006, the Company's founding principals started S&S Worldwide, which has grown to become the largest manufacturer of thrill rides in the USA with installations in 31 countries worldwide.
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