Kontrol Technologies Completes First SmartSuite Installation in the USA with Leading National REIT

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB: KNRLF) has successfully completed its first SmartSuite installation in Florida, marking a significant step in its expansion into the U.S. market. The SmartSuite platform integrates with HVAC systems to provide real-time energy management and emission reduction. Kontrol aims to scale its solutions to assist customers in lowering energy costs and meeting sustainability targets. The company is preparing for a second installation expected by June 2022, reinforcing its commitment to enhancing energy efficiency and sustainability in buildings.

Positive

• Successful completion of the first SmartSuite installation in Florida.
• Expansion into the U.S. market enhances growth opportunities.
• SmartSuite technology aids in reducing energy costs and GHG emissions.

Negative

• Future installations and energy savings are subject to uncertain demand and customer acceptance.
• Risks exist regarding the effectiveness of the technology and capital availability.

--Real-time Energy and Emission Reduction Technology--

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, has completed its first SmartSuite installation in Florida for a leading National USA REIT (see press release March 23, 2022).

“Expansion into the USA market with our technology platform remains an important strategic initiative and we are pleased to have our first SmartSuite installation operating,” says Paul Ghezzi, CEO of Kontrol Technologies. “We are focused on scaling opportunities which will assist our customers to reduce their escalating energy costs and achieve their corporate sustainability targets.”

SmartSuite Real Time Energy and Emission Reduction

SmartSuite operates by integrating with heating, cooling, and ventilation (HVAC) equipment and provides a proprietary Cloud platform to deliver real-time visibility, analytics and smart controls. By regulating temperature settings and adapting to occupancy through smart learning algorithms, SmartSuite is designed to reduce energy waste and create long term energy savings. For each kilowatt of energy saved a corresponding reduction in GHG emissions can be derived.

Kontrol is working with the USA REIT customer to advance the second location for deployment which is anticipated to be completed in June 2022.

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 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 Carbon solutions to be offered by Kontrol for its potential customers; future goal of monetizing carbon credits; the anticipated timing of the installation of and energy savings that SmartSuite will provide for the USA REIT customer; the future success of any of Kontrol’s products; and customer demand relating to energy management.

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 future Carbon solutions can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated timing of the installation of and energy saving relating to the SmartSuite will go as planned for the USA REIT customer; and that demand will continue for energy management products and for the Company’s products in particular.

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 the Company’s 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 offerings as expected and/or that demand for such products and services will not continue; that Kontrol SmartSuite will not be replicated in the future and that the Company will not maintain its existing relationships or contracts on the same terms or at all.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220527005096/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 Kontrol Technologies Corp's recent achievement regarding SmartSuite?

Kontrol Technologies Corp. has completed its first SmartSuite installation in Florida.

How does SmartSuite benefit customers?

SmartSuite integrates with HVAC systems to reduce energy costs and achieve sustainability targets.

When is the second SmartSuite installation planned?

The second SmartSuite installation is anticipated to be completed by June 2022.

What stock symbol represents Kontrol Technologies Corp on the OTCQB?

The stock symbol for Kontrol Technologies Corp on the OTCQB is KNRLF.

What are the potential risks mentioned in the recent press release?

Risks include uncertain customer demand, technology effectiveness, and capital availability.