Kontrol Technologies Increases Revenue Order Book to $160 Million

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB: KNRLF) announced an increase in its consolidated revenue order book to $160 million as of September 15, 2021. The company is also quoting over $25 million in new potential revenue opportunities. CEO Paul Ghezzi emphasized ongoing growth and record revenues in August, indicating strong activity across their operational platform. The partnership with Steelcase for air quality monitoring technology remains on track for a September 2021 launch.

Positive

• Consolidated revenue order book increased to $160 million.
• Potential revenue opportunities quoted at over $25 million.
• Reported record monthly revenues in August.

Negative

• Not all quoting activity will translate to new revenue.
• Risks associated with reliance on future projections and market acceptance.

Exclusive Partnership with Steelcase to Provide Air Quality Monitoring and Safe Space Technology Remains on Track for September 2021 Launch

TORONTO, Sept. 15, 2021 /PRNewswire/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol" or the "Company"), a leader in smart building technologies, has increased its consolidated revenue order book to $160 Million.   

In addition to the consolidated revenue order book of $160 Million, Kontrol is currently quoting more than $25 million in new potential revenue opportunities across its operating platform.  

"We continue to experience growth in our revenue book and strong quoting activity," said Paul Ghezzi, CEO of Kontrol. "Not all quoting activity will result in new revenue, however; quoting activity is an internal indicator of progress across our operating platform. After recently reporting record monthly revenues for the month of August, we look forward to continuing to scale the business and drive shareholder value over the long-term."

Steelcase and BioCloud Update
The recently announced partnership with Steelcase and Kontrol BioCloud, whereby Kontrol Technologies will provide air quality monitoring and viral detection technology in the U.S. and Canada through Steelcase's dealer network, remains on track for launch by the end of September 2021.

To achieve this goal, Kontrol is working diligently with the Steelcase marketing team to update all required marketing materials which will be used to support an established and robust dealer network.   

About Kontrol Technologies Corp.
Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) is a leader in smart buildings and cities through IoT, Cloud and SaaS technology.  Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

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  

Kontrol Technologies Corp.
info@kontrolcorp.com 
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: (905) 766.0400 Toll free: 1 (844) 566.8123

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. 

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 and that technology will be as effective as anticipated.

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 those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry.

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.

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SOURCE Kontrol Technologies Corp.

FAQ

What is the current revenue order book of Kontrol Technologies Corp. (KNRLF)?

As of September 15, 2021, Kontrol Technologies Corp. has increased its revenue order book to $160 million.

How much new potential revenue opportunities does Kontrol Technologies Corp. (KNRLF) have?

Kontrol Technologies Corp. is quoting over $25 million in new potential revenue opportunities.

When is the partnership with Steelcase for air quality monitoring expected to launch?

The partnership with Steelcase is on track for launch by the end of September 2021.

What did Kontrol Technologies Corp. (KNRLF) report regarding its revenue in August?

Kontrol Technologies Corp. reported record monthly revenues for August 2021.