Kontrol BioCloud Enters into Distribution Agreement with Airmaster Corporation and Daikin to Provide Air Quality Monitoring and Viral Detection Technology

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB: KNRLF) has announced an exclusive distribution agreement with Airmaster and Daikin Australia to offer real-time detection of airborne pathogens through its BioCloud technology. This partnership aims to enhance air quality in workplaces by notifying employers of detected viruses in real time, allowing for prompt action. The agreement includes a three-year term with an exclusive year in the HVAC sector across Australia and New Zealand, alongside initial purchases of BioCloud units. Manufacturing opportunities for BioCloud outside of North America are also expected to be explored.

Positive

• Exclusive distribution agreement with Airmaster and Daikin enhances business reach.
• Initial purchase of BioCloud units confirms immediate revenue generation.
• Real-time virus detection capability enhances workplace safety, potentially increasing market demand.

Negative

• None.

-Partnership with Kontrol's BioCloud® Technology to Provide Real-Time Detection of Airborne Pathogens to Create Safer Spaces-

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology, entered into an exclusive distribution agreement with Airmaster Corporation and its New Zealand subsidiary, Optimum Air (“Airmaster”), and Daikin Australia Pty Ltd. (“Daikin”) to offer real-time monitoring and detection of airborne pathogens to create safer spaces.

Kontrol BioCloud technology samples the air continuously through a proprietary and patented process. When the device detects a virus, it sends a communication in the Cloud or over local intranet, notifying workplace leaders in real time. With this actionable information, employers can take the measures needed to mitigate virus outbreaks in the office.

"Kontrol is excited to enter into a distribution partnership with Airmaster and Daikin," said Paul Ghezzi, CEO of Kontrol. “We look forward to delivering air quality and real-time space monitoring technology to the work environment through this partnership. The addition of a global leader in the HVAC and HVAR industry is another major advancement for the BioCloud technology.”

"As we embark on a new era and approach to facilities management and indoor environment quality, it is vital we extend our services and solutions in order to combat COVID-19, while helping businesses adapt safely and with confidence in this new normal,” said Noel Courtney, CEO of Airmaster. “Kontrol is a forward-thinking organisation and their research and development of BioCloud allows us offer a full-service solution that provides safer spaces and peace of mind for our customers.”

Under the terms of the agreement, Airmaster and Daikin will be provided with a three-year term and a one year exclusive in the HVAC sector in Australia and New Zealand. Kontrol received an initial purchase of BioCloud units as part of the agreement.

Further to the distribution agreement, Kontrol and Daikin will seek to explore manufacturing opportunities for the BioCloud technology outside of North America.

About Airmaster

Airmaster, a member of the Daikin Group, is an award-winning building services company, providing HVAC&R management, smart building solutions and fire services across thousands of buildings in Australia, New Zealand, and South-East Asia.

Founded in Melbourne, Australia in 1988 and with 14 branches across Australia and New Zealand, Airmaster's holistic approach to building management makes for a comprehensive range of service offerings. As a leader in the building services industry, Airmaster prides itself on delivering sustainable, cost effective and energy efficient products, services, and solutions. As the built environment landscape changes, Airmaster has adapted, ensuring every service and solution offered aligns with best practice in building services management.

About Daikin Australia

Founded in 1969, Daikin Australia have been providing air-conditioned comfort for homes, commercial developments, and community projects across Australia for over 50 years. As air conditioning specialists, the entire focus of the business is to bring climate-controlled comfort to places where people live, work, meet and relax.

A world leader in air conditioning with operations across the globe, Daikin have invested more than 80 years and billions of dollars in research and development into the fields of mechanics, electronics, and chemistry to produce air conditioning products that are energy efficient, quiet, simple to use and reliable. From homes to high rises, from hospitals to hotels, Daikin has an air conditioning solution that provides superior comfort and energy efficiency.

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 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

About Kontrol BioCloud

Kontrol BioCloud (“BioCloud”) is an operating subsidiary of Canadian public company Kontrol Technologies. 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. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and a silent notification system is created. BioCloud can be applied to any space 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

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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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116006142/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

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

Tel: (905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us

Tel: +1 (949) 546.6326

Source: Kontrol Technologies Corp.

FAQ

What is the partnership between Kontrol Technologies (KNRLF) and Airmaster about?

The partnership is focused on exclusive distribution of BioCloud technology for real-time airborne pathogen detection in workplaces.

How long is the distribution agreement between Kontrol and Airmaster?

The distribution agreement lasts for three years with one year of exclusivity in the HVAC sector in Australia and New Zealand.

What technology is Kontrol Technologies using for airborne pathogen detection?

Kontrol employs its BioCloud technology, designed for real-time monitoring and detecting airborne viruses.

What immediate financial impact does the agreement have on KNRLF?

The agreement includes initial purchases of BioCloud units, indicating immediate revenue generation for Kontrol.

Where will Kontrol Technologies explore manufacturing opportunities for BioCloud?

Kontrol is looking to explore manufacturing opportunities for BioCloud technology outside of North America.