Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol Technologies" or "Kontrol" or "Company") a leader in smart buildings and cities announces that it has added an industrial emission customer and has won multiple energy efficient installations in the commercial building sector. The total value of the combined revenue is approximately $500,000 and will be allocated between December 2023 and February 2024 based on equipment lead times.
The emission customer is a fully integrated steel manufacturer which seeks to monitor critical emissions from its manufacturing plant in Canada. The commercial building customer is a new customer with a significant real estate portfolio across Canada and operates as a REIT.
For the industrial emission customer, Kontrol will provide extensive monitoring and analysis of critical emissions. For the commercial building customer Kontrol will be installing complex heat pump technology to replace existing heating, cooling, and ventilation (HVAC) systems and to drive energy savings of up to 60 percent per annum and reduce corresponding building emissions.
Paul Ghezzi, CEO of Kontrol Technologies, stated, “We continue to add new customers across our industrial emission and commercial building platform as we deliver high value solutions for our customers. We remain focused on driving organic growth with profitability.”
In addition to one-time revenues Kontrol offers an ongoing asset management and service platform which drives higher margin recurring revenues on an annual basis. The customers will not be named for industry competitive purposes.
Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com.
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This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy.
Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.