Kontrol Announces Funding to Accelerate the Development of Kontrol BioWater, a Real-Time Viral Testing Technology

Rhea-AI Summary

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) announced that its subsidiary, CEM Specialties Inc., is receiving up to $300,000 from the NRC IRAP for the development of the new Kontrol BioWater analyzer. This technology aims to offer real-time detection of viruses, including COVID-19, in wastewater, significantly reducing the time required for testing compared to traditional methods. With growing emphasis on wastewater surveillance for public health, this project enhances Kontrol's technology portfolio and responds to market needs.

Positive

• Secured funding of up to $300,000 from NRC IRAP for research and development of the Kontrol BioWater analyzer.
• Development of innovative wastewater testing technology aimed at real-time virus detection, which could improve public health responses.

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• None.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”) announces that its operating subsidiary - CEM Specialties Inc. - is receiving advisory services and funding of up to $300,000 from the National Research Council of Canada Industrial Research Assistance Program ("NRC IRAP") supporting a research and development project to accelerate its new wastewater testing technology, the Kontrol BioWater analyzer ("BioWater analyzer" or "Kontrol BioWater"), for the detection of viruses including COVID-19.

“We are pleased to continue to add to our growing technology platform and intellectual property as we advance the Kontrol BioWater to the next stage of its development,” says Paul Ghezzi, CEO, Kontrol Technologies.

Kontrol BioWater Innovation

The Kontrol BioWater technology will be designed with the goal of being the first real-time, in the cloud, detection technology for virus in wastewater. The current process for the collection of wastewater sampling involves on-site technicians, transporting samples to a laboratory and then undertaking a separate analysis of the wastewater. This process is time consuming and can take several days to complete. The intention of the Kontrol BioWater is to advance sampling automation for faster, on-site detection which can potentially accelerate a response plan.

“Early viral detection is in its infancy, and we continue to build our BioCloud technology which will now include Kontrol BioWater,” says Gary Saunders, President of Kontrol BioCloud.

According to the following statement from the United States Centers for Disease Control (“CDC”) and Prevention, wastewater surveillance can provide an early warning of COVID-19’s spread in communities. To learn more visit www.cdc.gov/healthywater/surveillance.com

As per the CDC, “The virus can then be detected in wastewater, enabling wastewater surveillance to capture presence of SARS-CoV-2 shed by people with and without symptoms. This allows wastewater surveillance to serve as an early warning that COVID-19 is spreading in a community. Once health departments are aware, communities can act quickly to prevent the spread of COVID-19. Data from wastewater testing support public health mitigation strategies by providing additional crucial information about the prevalence of COVID-19 in a community.”

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain COVID-19 (or SARS-2 Coronavirus).

About Kontrol BioCloud®

Kontrol BioCloud (“BioCloud”) is an operating subsidiary of Canadian public company Kontrol Technologies Corp. The BioCloud technology is a real-time analyzer designed to detect airborne viruses and pathogens. BioCloud is an air quality technology and not a medical device. BioCloud has been designed to operate as a safe space technology by sampling the air quality continuously. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com

Kontrol BioWater is a technology extension of the Kontrol BioCloud and will be developed to operate as a branded solution for water monitoring applications.

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

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

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. Forward-looking information contained in this press releases includes, but is not limited to, the following: future testing to be conducted by Kontrol of its products; the future success of any of Kontrol’s products; and customer demand relating to air quality and water testing products.

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; that future testing can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; and that demand will continue for air quality or water monitoring products and for the Company’s products in particular.

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 the Company’s 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/or that demand for such products and services will not continue; that the Company’s test results will not be replicated in the future or that future testing will not be conducted; that the Company will not maintain its existing relationships or contracts on the same terms or at all; and government and regulatory factors impacting the energy conservation industry. Kontrol BioCloud is an air quality technology and not a medical device. 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).

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005664/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What is Kontrol Technologies Corp. (KNRLF) focusing on in their latest press release?

Kontrol Technologies Corp. is focusing on the development of the Kontrol BioWater analyzer for real-time detection of viruses in wastewater, supported by funding from NRC IRAP.

How much funding is Kontrol receiving for the BioWater analyzer project?

Kontrol is receiving up to $300,000 from the National Research Council of Canada Industrial Research Assistance Program for the BioWater analyzer project.

What is the significance of the Kontrol BioWater analyzer?

The Kontrol BioWater analyzer aims to provide faster and automated virus detection in wastewater, potentially enhancing public health surveillance.

Which company is funding Kontrol Technologies' wastewater testing research?

The funding for Kontrol Technologies' wastewater testing research is provided by the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).

What market need does the Kontrol BioWater technology address?

The Kontrol BioWater technology addresses the need for quicker and more efficient virus detection in wastewater, which is important for public health monitoring.