The Globe and Mail Ranks Kontrol 81st in Canada's Top Growing Companies 2020
TORONTO, ON / ACCESSWIRE / September 28, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) ("Kontrol" or "Company") is pleased to announce it has won a new order for its smart building technology across four buildings and has been recognized as one of Canada's top growing companies by the Globe and Mail Top Growing Companies 2020.
New Smart Building Technology Win
Following a number of pilots for its SmartSuite® technology the Company has received an order for four apartment buildings located in Ontario, Canada. The contract win was awarded after a comprehensive Request for Proposal (RFP) process that involved other competitors. For industry competitive purposes revenue details and size of the order will not be disclosed.
"We've selected Kontrol and their SmartSuite® technology to help us control, manage and reduce in-suite heating costs in four of our multi-unit residential (apartment) properties in Ontario," says Cam Murchison, Vice President, Property Standards at Q Residential (a leading private real estate asset manager and operator). "Their smart building technology attracted better than expected incentives from the local utility and allows us to understand what is happening within the suites when it comes to temperatures and open windows and doors across the four buildings. With their system providing cloud access to in-suite temperatures and settings, using our mobile devices and laptops, we no longer need to enter our tenant's spaces to troubleshoot and make changes, allowing us to avoid unnecessary and expensive truck rolls. This is a big advantage and benefit under the environment we now operate in."
Globe and Mail Ranks Kontrol 81st in Top 400 Growing Companies
"We are thankful to all of our customers, employees and partners for their support as we continue to develop our technology solutions to build a better future for all," says Paul Ghezzi, CEO of Kontrol Energy.
On September 25th, The Globe and Mail announced its second annual ranking of Canada's Top Growing Companies. The 400 companies cover all industry sectors and were ranked on their three-year revenue growth. Launched in 2019, Canada's Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, private and public businesses in Canada. The Globe and Mail refers to the list as "The next generation: the 400 boldest businesses in the country." Kontrol was ranked number 81.
Name Change initiated to Kontrol Technologies Inc.
Following the company's Annual General Meeting on August 28, 2020 the Company has initiated a name change to Kontrol Technologies Inc. from Kontrol Energy Corp. The name change will better reflect the Company's brand and its focus on developing and deploying a comprehensive portfolio of technologies and solutions for smart buildings, smart cities, and safe spaces. The name change will require customary approvals and will take approximately one month to complete.
Update to Prior Press Release
The press release dated August 5th, 2020 is updated to state that CEM Specialties Inc. (CEMSI), a wholly owned operating subsidiary of Kontrol, is in receipt of advisory services and up to $50,000 in research and development funding from National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to accelerate its new Covid-19 testing technology, the Kontrol BioCloud® analyzer ("BioCloud analyzer" or "BioCloud").
About Kontrol BioCloud
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling air quality continuously. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud's applications includes classrooms, retirement homes, hospitals, mass transportation and others. BioCloud is currently being developed for commercialization.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
About Kontrol Energy
Kontrol Energy Corp. (CSE:KNR) (OTCQB:KNRLF) (FSE:1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
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Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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 the Company 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 technologies will not prove as effective as expected, that 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. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol's lack of track record in developing products for medical applications.
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.
SOURCE: Kontrol Energy Corp.
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