Kontrol provides COVID-19 Technology Update

Rhea-AI Summary

Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF) has provided an update on its Kontrol BioCloud technology, a real-time analyzer aimed at detecting airborne viruses, including COVID-19. Lab testing since August 31, 2020, shows consistent positive results with its prototype. Live COVID-19 testing is rescheduled for September 8, 2020, and five functioning BioCloud units are expected soon. The technology targets areas with high foot traffic and is positioned for commercialization, although the company does not claim to eliminate or cure COVID-19.

Positive

• Positive results from lab testing of BioCloud prototype against dormant COVID-19.
• Enhanced supply chain certainty for components needed for commercialization.
• Anticipation of five functioning BioCloud units ready for live testing.

Negative

• Live COVID-19 testing has been delayed to September 8, 2020.
• Dependence on future regulatory approvals and effectiveness of technology remains uncertain.

Kontrol BioCloud a Safe Space Technology™

TORONTO, ON / ACCESSWIRE / September 3, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) ("Kontrol" or "Company") is pleased to provide an update on its Kontrol BioCloud (or "BioCloud") technology.

Lab Testing with Prototype and Dormant COVID

During the week of August 31, 2020 Kontrol continued lab testing on its fully operating prototype to validate certain components required for commercialization of BioCloud. The testing continues to demonstrate positive results as previously reported in the press release dated August 27, 2020.

"Through additional testing we are in a position where we can determine that our detection chamber and fully operational prototype continue to deliver positive results against COVID-19 in its dormant form," says Paul Ghezzi, CEO Kontrol. "In addition, we have enhanced supply chain certainty over all material components required for commercialization."

Live COVID-19 Testing

The live COVID-19 testing has been rescheduled to the week of September 8^th in order to secure ample time slots in the independent lab.

Prototypes and Function Units

To align with the completion of COVID-19 live testing, Kontrol anticipates having 5 functioning BioCloud units that can operate in real-time in the coming weeks.

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 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, retirement homes, hospitals, mass transportation and others. It can be an important technology which supports the entire system of individual testing and contact tracing.

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) at this time.

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 Energy Corp. 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.

Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com.

For further information, contact:

Paul Ghezzi, Chief Executive Officer
paul@kontrolenergy.com or admin@kontrolenergy.com
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123

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 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.

View source version on accesswire.com:
https://www.accesswire.com/604634/Kontrol-provides-COVID-19-Technology-Update

FAQ

What is the purpose of Kontrol BioCloud technology?

Kontrol BioCloud is designed to detect airborne viruses, including COVID-19, in spaces where people gather.

How did Kontrol Energy Corp. perform lab testing for BioCloud?

Kontrol conducted lab testing on its prototype, revealing positive results against dormant COVID-19.

When is the live COVID-19 testing happening for BioCloud?

The live COVID-19 testing is rescheduled for the week of September 8, 2020.

What are the expected outcomes for the BioCloud units?

Kontrol anticipates having five functioning BioCloud units ready for real-time operation shortly.

Does Kontrol claim that BioCloud can cure COVID-19?

No, the company does not make claims that its product can eliminate or cure COVID-19.