Kontrol Technologies Delivers Energy Savings for 3 REIT Customers including USA REIT

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) announced significant energy savings of 20% to 30% per annum for three REIT customers managing properties in Canada and the USA. Currently, their SmartSuite technology is deployed in seven buildings across these portfolios, with plans for scaling up based on proven performance. CEO Paul Ghezzi emphasized the potential for robust energy management solutions and sustainability improvement through their IoT, Cloud, and SaaS offerings.

Positive

• Achieved energy savings of 20% to 30% per annum for new REIT customers.
• SmartSuite technology currently deployed in 7 buildings, indicating successful initial implementation.
• Potential for scalability with existing customers based on proven performance.
• SmartSuite designed to enhance building automation and energy management.

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 through IoT, Cloud and SaaS technology, is pleased to announce that it has delivered energy savings in the range of 20% to 30% per annum for 3 recent REIT customers, which manage national building portfolios in Canada the USA. The REIT customers operate multi-family or multi-residential buildings in Canada and the USA.

Currently the Kontrol SmartSuite energy management technology is deployed in 7 initial buildings across these 3 REIT customer portfolios. Kontrol typically deploys to a number of buildings initially to build a relationship based on proven performance with its new customers. The Company then seeks to turn these initial deployments into a scalable solution.

“We are excited to deliver such robust energy savings performance for our new customers,” says Paul Ghezzi, CEO of Kontrol Technologies. “Our SmartSuite technology is designed to provide building automation and in-suite control over heating, cooling, and ventilation through a unified Cloud solution. Each of these REIT customers represents a scalable customer and we look forward to continuing the expansion our energy management technology.”

How SmartSuite Technology Operates

Designed for the commercial, multi-residential and hospitality building sectors and driven by the move to smart buildings and smart cities, the SmartSuite® thermostat and cloud technology is designed to deliver energy savings, corresponding GHG emission reductions and a unified platform to manage all suites and buildings from the cloud.

The SmartSuite® capabilities include:

• Real-time energy management and conversation
• Rich data analytics
• Smart learning algorithms
• Multiple user interfaces
• Integrated with window and door sensors
• Ability to communicate with utilities for demand response

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 performance of the installation of and energy saving and emission reduction relating to the SmartSuite will go as planned for the college and university student market; 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.

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/20221026005420/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

601 Rowntree Dairy Road, Unit B, Woodbridge, ON L4L 5T8

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What recent energy savings did Kontrol Technologies Corp. achieve for its REIT customers?

Kontrol Technologies Corp. achieved energy savings of 20% to 30% per annum for three recent REIT customers.

How many buildings is Kontrol's SmartSuite technology currently deployed in?

Kontrol's SmartSuite technology is currently deployed in seven buildings across three REIT customer portfolios.

What is the primary technology used by Kontrol Technologies Corp. for energy management?

The primary technology used by Kontrol Technologies Corp. for energy management is their SmartSuite, which integrates IoT, Cloud, and SaaS solutions.

What sectors does Kontrol Technologies Corp. target with its SmartSuite technology?

Kontrol Technologies Corp. targets the commercial, multi-residential, and hospitality building sectors with its SmartSuite technology.

What is the stock symbol for Kontrol Technologies Corp. on the OTCQB?

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