Kontrol Technologies delivers Integrated Energy Audit and Carbon Reduction RoadMap for Major Canadian University; 32 Buildings Across Entire Campus

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) has been selected by a leading Canadian university to provide energy assessments and a carbon reduction roadmap, set for completion in June 2022. This partnership marks a new market vertical for Kontrol, which aims to expand its energy management solutions. The university's goal is to achieve Net Zero emissions by 2040, covering 32 buildings and 2.5 million square feet. Kontrol’s SmartSite platform will facilitate real-time monitoring to enhance energy efficiency.

Positive

• New contract with a Canadian university opens up a new market vertical.
• The university's goal of achieving Net Zero emissions by 2040 aligns with Kontrol's sustainability solutions.
• Energy assessments will cover 32 buildings over 2.5 million square feet, potentially increasing revenue.

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 been selected by a leading Canadian University, (the "University”) following a competitive process, to provide detailed energy assessments and a carbon reduction roadmap with completion in June, 2022. The University Campus market is new vertical opportunity for the Company as it seeks to expand its energy management and carbon reduction solutions.

“Universities across North America are leading the movement to greater sustainability and net zero emissions,” says Paul Ghezzi, CEO of Kontrol Technologies. “We are pleased to be able to add a new customer and a new market vertical to our expanding platform.”

The University has set a sustainability goal of Net Zero by 2040. In addition to providing energy assessments over 32 buildings and 2.5 million square feet of real estate, across the University campus, Kontrol will provide real-time monitoring under its SmartSite platform in various buildings.

About Kontrol SmartSite

Kontrol SmartSite (“SmartSite”) is a unified technology interface which can communicate with legacy building automation systems. Through a proprietary gateway, SmartSite collects data from existing sensors and equipment, monitors performance and provides real-time adjustments to operate a more efficient building. SmartSite operates as a Cloud based technology and can be integrated with existing building legacy systems. For non-disclosure purposes the name and location of the University remains confidential.

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 SmartSite will provide for the University 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 SmartSite will go as planned for the University 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 SmartSite 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/20220531005620/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What recent contract did Kontrol Technologies Corp. secure?

Kontrol Technologies Corp. secured a contract with a leading Canadian university to provide energy assessments and a carbon reduction roadmap.

What is the completion timeline for the energy assessments by Kontrol Technologies?

The energy assessments are set for completion in June 2022.

How many buildings will Kontrol Technologies assess for the university?

Kontrol Technologies will assess 32 buildings across the university campus.

What is the sustainability goal set by the university?

The university has set a sustainability goal of achieving Net Zero emissions by 2040.

What technology will Kontrol Technologies use to monitor energy efficiency?

Kontrol Technologies will use its SmartSite platform for real-time monitoring of energy efficiency.