Kontrol Technologies Adds Liquified Natural Gas Emission Monitoring and Analytics Customer

Rhea-AI Summary

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has secured a new customer in the liquified natural gas (LNG) sector in the USA for emission monitoring and analytics. This move follows their previous announcement on February 15, 2023, and indicates a strategic expansion into the LNG market as part of their emission monitoring solutions. CEO Paul Ghezzi stated that their reputation in emission monitoring has facilitated this market entry. The company has a history of providing emission monitoring solutions in the oil, gas, and cement industries across Canada and the USA, with the LNG market presenting significant new revenue potential.

Positive

• Secured a new customer in the LNG market for emission monitoring, indicating growth.
• Expansion into LNG market could represent a new revenue vertical.
• Strong established reputation for emission monitoring enhances competitive positioning.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities has added a new Customer in the liquified natural gas (LNG) market to provide emission monitoring and analytics for a new LNG project in the USA. As a follow up to the press release dated February 15, 2023, the Company is reviewing multiple location opportunities, in addition to the new Customer, as it expands its emission monitoring solutions in the USA.

“This new emission monitoring and analysis opportunity was driven by our prior work with various local utilities in the Customer’s geography,” says Paul Ghezzi, CEO Kontrol Technologies. “Our established reputation for detailed and precise emission monitoring and analysis has opened a new market with scale potential. As the regulatory environment for new energy projects tightens and becomes more restrictive, we are well positioned to capitalize on those trends with our turn-key monitoring and analytic solutions.”

History of Emission Monitoring for Oil, Gas and Cement Industries

The Company has a long history of providing continuous emissions, compliance and monitoring solutions through its operating subsidiaries. Historically the Company has provided emission technology deployment and solutions to large industrial customers in the oil, gas and cement industries across Canada and the USA. The LNG market opportunity is new revenue vertical for the Company and the majority of interest is in the USA market.

Monitoring Environmental Impacts

LNG facilities and the associated development of new facilities may be a source of harmful pollutants or emissions, such as volatile organic compounds (VOCs), nitrogen oxides (NOx), methane (CH4), sulfur dioxide (SO2) and particulate matter (PM). The ability to monitor, validate and quantify harmful pollutants or emissions is typically a regulatory requirement which may vary by region.

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 emission monitoring solutions and products to be offered by Kontrol for its potential customers; that the future success of any of Kontrol’s products; and customer demand relating to continuous emissions.

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 the anticipated timing of implementing continuous emission monitoring solutions for Customers will go as planned; and that demand will continue for continuous emission monitoring technology and for the Company’s products in particular.

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/20230301005928/en/

Kontrol Technologies Corp.

Paul Ghezzi, CEO

info@kontrolcorp.com

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What recent customer acquisition did Kontrol Technologies announce?

Kontrol Technologies acquired a new customer in the liquified natural gas (LNG) market for emission monitoring and analytics.

How does Kontrol Technologies' new customer impact its business?

The new customer represents a strategic expansion into the LNG market, potentially creating a new revenue vertical.

What is the significance of the date February 15, 2023, in Kontrol Technologies' press release?

It refers to a previous announcement related to the company’s growth and expansion plans in emission monitoring solutions.

How is Kontrol Technologies positioned in the emission monitoring market?

The company has a strong reputation for emission monitoring, which positions it well to capitalize on tightening regulations in energy projects.