Kontrol BioCloud completes successful pilots, adds new distribution partner and provides technology update
Kontrol Technologies Corp. (OTCQB: KNRLF) reports progress on its BioCloud technology, designed for real-time viral detection. Successful pilots were completed with Rowing Canada and in the Middle East, validating data collection methods against independent PCR testing. A new distribution partner was secured in India, and the company is launching a pilot in a Canadian hospital in Q2 2021. Additionally, Kontrol is seeking U.S. lease financing for BioCloud sales and offers flexible payment options for customers. Recent advancements have improved detection capabilities significantly.
- Successful pilot with Rowing Canada validated BioCloud's data accuracy.
- Operational pilot in the Middle East demonstrated effective RNA collection.
- New distribution partnership established in India to expand market reach.
- Upcoming large pilot in a Canadian hospital planned for Q2 2021.
- Enhanced technology achieved up to 10 times greater resolution than before.
- Initial delays due to supply chain issues affected pilot progress.
- Risks related to reliance on external financing for U.S. operations.
TORONTO, May 17, 2021 /PRNewswire/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol") a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to provide an update on its BioCloud technology.
"We continue to progress the BioCloud technology as a global solution for real-time viral detection and safer spaces," says Paul Ghezzi, CEO of Kontrol Technologies Corp. "With units in the field collecting data, in real-time, we have completed another round of significant milestones. We are now in a position where we can showcase live operating results with distribution partners, customers, and other interested parties. Further the successful pilots and the data generated have been an important source of technology advancement. We also have our first distribution partner in India."
Successful pilot with Rowing Canada Aviron
Kontrol has completed a successful pilot using multiple BioCloud units in various training locations. Data from the BioCloud operation mirrored the independent PCR testing completed over the duration of the pilot.
Middle East Pilot
Following initial delays due to previously announced supply chain issues, Kontrol BioCloud commenced its operational pilot in the Middle East. To date BioCloud has sampled ambient air exposed to by more than 300 individuals in a medical screening facility. Current progress of the pilot has demonstrated successful collection of human RNA through real-time air sampling and monitoring applications. Independent PCR testing provided through the pilot partner has validated the samples collected. Kontrol is working with its pilot partner in the region to gain access to a Covid hospice or hospital for the next phase of the pilot.
Canadian Hospital Pilot
With the support of independent researchers, Kontrol BioCloud will launch its first large Canadian hospital pilot in Q2, 2021 and provide an update following the completion of the pilot.
New Distribution
Kontrol has recently added a new distribution partner in India on a non-exclusive basis. The Company continues to focus on adding quality distribution partners to grow its global distribution platform.
U.S. Lease Financing
Following the announcement of a Canadian lease finance program for BioCloud across Canada with RCAP Leasing, the Company has commenced discussions for a similar U.S. based lease financing program for BioCloud sales in the U.S.
Monthly Viral Detection as a service versus Capex
BioCloud distributors have expressed the interest in providing customers with a choice of an initial purchase versus an ongoing monthly payment. With a small initial deposit and a monthly payment of approximately
Data and technology advancements
Each BioCloud unit in operation logs thousands of data points daily in real-time. Through this data collection and monitoring Kontrol has been able to design advancements to the BioCloud technology. These advancements are considered fine-tuning and adaptive without requiring hardware changes. An important advancement was achieved by fine tuning laser optics and new a new chemical bonding formulation. Based on laboratory testing, the new chemical bonding formulation has shown an increase of up to 10 times greater resolution than was previously capable.
About Kontrol BioCloudTM
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. 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 has been designed for spaces where individuals gather including classrooms, offices, retirement homes, hospitals, mass transportation and others. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com
About 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 Technologies provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.
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.
https://www.facebook.com/Kontroltechcorp/
https://twitter.com/kontrolgroup
https://www.linkedin.com/company/kontrol-group/
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.
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 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. 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 original content to download multimedia:http://www.prnewswire.com/news-releases/kontrol-biocloud-completes-successful-pilots-adds-new-distribution-partner-and-provides-technology-update-301292217.html
SOURCE Kontrol Technologies Corp.
FAQ
What is the current status of Kontrol Technologies' BioCloud technology?
When will the Canadian hospital pilot for BioCloud technology be launched?
What new partnerships has Kontrol Technologies established recently?
What financing options are available for customers interested in BioCloud technology?
How has Kontrol Technologies improved its BioCloud technology?
