Kontrol Technologies Enters College and University Student Housing Market with First SmartSuite® Technology Installation

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) is expanding into the student housing market with the first installation of its SmartSuite® technology. This solution offers building automation, allowing control of heating, cooling, and ventilation through a unified, cloud-based platform. The student housing market is substantial, with approximately 145,000 beds available in Canada. SmartSuite® aims to deliver energy savings and emissions reductions. The technology includes features like real-time energy management and integration with utility communications, enhancing energy efficiency across various sectors.

Positive

• Entering the significant student housing market with SmartSuite® technology.
• SmartSuite® technology designed for energy savings and improved building performance.
• First installation for a student housing REIT in Canada, indicating market traction.

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, has entered the college and university student housing market with the first installation of its SmartSuite® technology.

“We continue to seek to expand into new market verticals such as the growing student housing market,” said 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-based solution. By consolidating the management of each suite and building to one platform, our products are designed to enable our customers across various sectors to drive energy savings and reduce emissions to improve the performance of their buildings.”

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
• Data management, analytics and trending analysis
• Multiple user interfaces
• Integrated with window and door sensors
• Ability to communicate with utilities for demand response

The first SmartSuite® installation is for a student housing REIT which operates across Canada and manages and develops purpose-built rental housing for the university and college student housing market.

According to Cushman & Wakefield, total university-owned (on-campus) and privately-owned (off-campus) housing provide about 145,000 beds in these markets, which represents about 15% of total full-time students. Of this total, about 45,000 beds are located in privately-owned, off-campus student residences.¹

According to the National Multi-Family Housing Association Council (NMHC), there are 8.6 million student beds in the U.S., which will grow to 9.2 million by 2031.²

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

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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: potential benefits of the Company’s products for its customers and potential customers; the growth of the student housing market; 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 products of the Company can be installed 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; that the markets the Company participates in will not expand as currently anticipated; 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.

¹ https://www.cushmanwakefield.com/en/canada/insights/canadian-student-housing-outlook
² www.nmhc.org/news/press-release/2021/student-housing-demand-will-remain-strong-but-will-be-more-diverse-and-focused-on-affordability/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005614/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. known for?

Kontrol Technologies Corp. is recognized for its leadership in smart buildings and smart cities through IoT, Cloud, and SaaS technology.

What is SmartSuite® technology from Kontrol Technologies?

SmartSuite® technology provides building automation and in-suite control over heating, cooling, and ventilation via a unified, cloud-based solution.

How does Kontrol Technologies support energy management?

Kontrol Technologies supports energy management by delivering real-time energy management, data analytics, and demand response capabilities through its SmartSuite® technology.

What market is Kontrol Technologies entering with its SmartSuite® technology?

Kontrol Technologies is entering the college and university student housing market with its SmartSuite® technology.

What potential is there in the student housing market according to Kontrol Technologies?

The student housing market has approximately 145,000 beds in Canada, representing significant opportunities for growth.