Kontrol Technologies Enters into Liquified Natural Gas Market with Emission Monitoring and Analytics Solutions

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB: KNRLF), a leader in smart buildings, has entered the liquefied natural gas (LNG) market, focusing on emission monitoring solutions primarily for the USA. This new market presents a significant revenue opportunity, leveraging the Company’s established expertise in continuous emissions monitoring for the oil, gas, and cement industries. Kontrol's solutions include real-time monitoring and enhanced testing to ensure regulatory compliance for LNG facilities. The initiative aligns with efforts towards achieving carbon neutrality in LNG operations through transparent emissions data.

Positive

• Entered the LNG market, providing new revenue opportunities.
• Established track record in emissions monitoring for industrial sectors.
• Offers turn-key solutions for continuous monitoring and compliance.

Negative

• Potential regulatory challenges in varying emissions standards.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities has entered into the liquified natural gas (LNG) market to provide continuous emission monitoring and analytics solutions. The primary focus of the solutions is the USA market.

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.

“With our established track record of integrating emission monitoring systems, including analytics and performance, we are able to provide solutions to existing LNG customers, new LNG developers or municipalities and cities that have a vested interest in ensuring facilities comply with existing regulations,” says Paul Ghezzi, CEO of Kontrol Technologies. “Our turn-key solution includes continuous monitoring remotely, sampling in real-time and providing additional enhanced testing supported by robust data and analytics.”

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.

Carbon Neutral Potential

The International Group of Liquefied Natural Gas Importers (GIIGNL) has created a framework for carbon neutrality. For a company to declare its shipment of LNG is carbon neutral, it would need to show transparent emissions data, make the best efforts to reduce emissions at its operations and use offsets for any remaining emissions for the cargo's lifecycle, including scope 3 emissions, or those generated when the customer uses the fuel. source: www.giignl.org

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/20230215005520/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

11 CiderMill Road

Vaughan ON

L4K 4B6

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What is Kontrol Technologies Corp. doing in the LNG market?

Kontrol Technologies has entered the liquefied natural gas (LNG) market to provide continuous emission monitoring and analytics solutions, primarily targeting the USA.

What are Kontrol's solutions for emissions monitoring?

Their solutions include real-time monitoring, sampling, and enhanced testing supported by robust data analytics.

How does Kontrol Technologies ensure compliance for LNG facilities?

Kontrol provides solutions that help monitor, validate, and quantify emissions, adhering to regulatory requirements.

Are there any risks associated with Kontrol's new LNG initiative?

Yes, potential regulatory challenges may arise due to varying emissions standards across regions.

What is the significance of carbon neutrality for Kontrol Technologies?

Achieving carbon neutrality is significant as it aligns with global environmental standards, requiring transparent emissions data and efforts to reduce operational emissions.