Kontrol BioCloud Delivers Successful Real-Time COVID-19 Detection

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) announced the successful conclusion of its pilot for the BioCloud technology in the Middle East, achieving real-time COVID-19 detection. Conducted with a prominent healthcare testing partner, the pilot validated BioCloud's capability to detect the virus accurately. The company has entered negotiations for regional distribution exclusivity with the partner, who serves both industry and government clients. Kontrol has received $1.2 million from the Ontario Together Fund, with an additional $800,000 expected upon the completion of their submission.

Positive

• Successful real-time COVID-19 detection from the BioCloud technology in the Middle East.
• Validation of BioCloud's detection capability confirmed by PCR test results.
• Confidential negotiations for regional distribution exclusivity ongoing with a recognized healthcare partner.
• Funding of $1.2 million received from the Ontario Together Fund, with an additional $800,000 anticipated.

Negative

• None.

-Completion of Operating Pilot in the Middle East with Positive Testing -

TORONTO, May 25, 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 announce that the Kontrol BioCloud (or "BioCloud") technology has delivered a real-time detection of COVID-19 virus from its completed pilot in the Middle East (previously announced pilot from press release dated May 17, 2021).

The successful testing was completed as part of Kontrol's Middle East pilot with a laboratory and health care testing partner ("Testing Partner").  The Testing Partner is a recognized leader in operating COVID-19 testing facilities and other health care centers.  The Testing Partner was able to operate the BioCloud technology in one of their COVID-19 testing facilities. 

"This is a significant achievement for the BioCloud technology, and our first positive detection result outside of a laboratory setting," says Paul Ghezzi, CEO of Kontrol. "This independent pilot and field validation is an important accomplishment for the advancement of BioCloud as a leading global viral detection technology."

Testing and Result

BioCloud was installed in a COVID-19 testing facility where individuals were placed in a separate room to receive a traditional PCR swab test.  On May 18^th, 2021 the BioCloud technology triggered a real-time detection notification and alert to on-site staff.  PCR test results of the individual present in the room, at the time of the detection event, validated BioCloud's alert when the individual ultimately tested positive for the SARS-COV-2 virus.  The Testing Partner forwarded these results to Kontrol on May 24^th, 2021, and the data logs generated by the BioCloud unit aligned with the results. 

BioCloud's proprietary and patented technology operates by continuously sampling the ambient air and seeking to identify for the SARS-CoV-2 virus through an antibody solution. Using advanced optical laser spectrometry to identify spike proteins BioCloud generates an optical reading that, if above an established baseline, will create a silent notification and alert.  The optical image below is the BioCloud internal data log of the positive virus detection reading represented by the increase from zero (baseline) to 30 (virus detection) on the scale. The movement represents a positive detection.

A link to the results can be found at www.kontrolcorp.com/pilotresults

"BioCloud was designed to provide early detection for viruses and pathogens by continuously monitoring and sampling the ambient air in rooms where individuals gather," says Gary Saunders, President of Kontrol BioCloud. "We are very pleased with the results achieved through the real-time detection of the SARS-CoV-2 virus and the successful completion of the Middle East pilot."

Next Steps with the Testing Partner

Kontrol and the Testing Partner have entered into confidential negotiations for regional distribution exclusivity subject to various conditions.  The Testing Partner's customer base includes both industry and government.  The Testing Partner will not be named at this time due to industry competitive purposes.

Update on Ontario Together Fund

To date Kontrol has received $1.2 Million from the Ontario Together Fund. For the balance of the $800,000 to be received ($2 Million in total) Kontrol will complete its submission to the Ontario Together Fund with an independent audit report in early June and anticipates the balance of funding shortly thereafter. The agreement with the Ontario Together Fund can be found at www.sedar.com

About Kontrol BioCloud^TM

BioCloud is a real-time analyzer developed  to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time and taking real-time measurements. 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

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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.

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.

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SOURCE Kontrol Technologies Corp.

FAQ

What is the significance of Kontrol Technologies' recent pilot in the Middle East?

The pilot demonstrated successful real-time COVID-19 detection using BioCloud technology, validating its effectiveness outside a laboratory setting.

What funding has Kontrol Technologies received from the Ontario Together Fund?

Kontrol has received $1.2 million to date, with an additional $800,000 expected upon submission of an independent audit report.

What are the next steps for Kontrol Technologies following the pilot testing?

Kontrol is currently in negotiations for regional distribution exclusivity with their testing partner.

What technology is used in Kontrol's BioCloud for virus detection?

BioCloud uses advanced optical laser spectrometry to detect the SARS-CoV-2 virus by continuously sampling ambient air.

When was the successful detection by BioCloud reported?

The successful detection occurred during the pilot on May 18, 2021, and the results were confirmed by PCR testing.