Kontrol Technologies to Deliver BioCloud Software Update Adds New Health Care Distribution Partner and Advances Replacement Cartridge Longevity

Rhea-AI Summary

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has announced an updated version of its BioCloud operating software, enhancing features based on customer feedback. The update, scheduled for release on December 13, 2021, improves optical response data and analytics. Additionally, the update doubles the longevity of replacement cartridges, reducing operating costs by up to 50%. Furthermore, Kontrol has secured a new distribution partner in the Middle East, providing regional Government exclusivity for six months for any orders. These developments highlight Kontrol's commitment to advancing smart building technologies.

Positive

• Software update enhances features based on customer feedback.
• New update doubles the longevity of replacement cartridges, cutting operating costs by up to 50%.
• Secured a new healthcare distribution partner in the Middle East, with Government order exclusivity for 6 months.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart building technology, is providing an updated version of the BioCloud operating software, adds a new health care distribution partner and advances the BioCloud replacement cartridge longevity.

“The most recent software update for BioCloud adds a number of new features based on customer feedback and demand. In addition, we have advanced the BioCloud technology to approximately double the longevity of the replacement cartridges,” said Paul Ghezzi, CEO of Kontrol Technologies. “We have learned a great deal from our operating units in the field and we continue to develop enhancements which are driven by the needs of our customers. We are also pleased to add a new health care distribution partner as BioCloud continues to attract global interest as a leading ambient air monitoring technology for viruses and pathogens.”

BioCloud Software Update

The updated version of the BioCloud software includes important improvements to the overall operation of the technology including advanced optical response data and analytics in real-time. Additional smart algorithms have been developed to map sensitivity against established baselines with the ability to reset baseline sensitivity in real-time. The software update will be issued as an OTA (over-the-air) update on or around December 13, 2021.

Replacement Cartridge Longevity Enhancement Reduces Operating Costs by up to 50%

Prior to the most recent software updates the BioCloud replacement cartridges were able to operate continuously until a singular positive viral or pathogen detection event. With the new version of the software the replacement cartridges can now be deployed for up to 2 detection events in the majority of cases.

“Our customers had requested that the BioCloud replacement cartridges be designed for potential multiple detection events. This important enhancement can effectively reduce the long-term operating costs of BioCloud by up to fifty percent,” said Gary Saunders, President of Kontrol BioCloud. “We are continuously working with our customers to deliver advances which are important to them and how they use the BioCloud technology.”

New Distribution Partner

Kontrol BioCloud has added a health organization in the Middle East as a new distribution partner. Under the terms of the distribution agreement the distribution partner will receive certain regional Government exclusivity for any Government orders for a period of up to 6 months. The new distribution partner operates health clinics in the Middle East with more than 20,000 doctors, healthcare workers and caregivers. The distribution partners name will remain confidential for industry competitive purposes.

About Kontrol BioCloud™

Kontrol BioCloud (“BioCloud”) is an operating subsidiary of Canadian public company Kontrol Technologies. The BioCloud technology is a real-time analyzer designed to detect airborne viruses and pathogens. BioCloud is an air quality technology and not a medical device. BioCloud has been designed to operate as a safe space technology by sampling the air quality continuously. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and a silent notification system is created. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com.

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 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.

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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.

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. Kontrol BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).

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/20211207005698/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

(905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us

+1 (949) 546.6326

Source: Kontrol Technologies Corp.

FAQ

What is the recent software update about for Kontrol Technologies Corp. (KNRLF)?

The recent software update enhances BioCloud's features based on customer feedback and is set to improve operation efficiency.

How does the replacement cartridge update benefit Kontrol Technologies Corp. (KNRLF)?

The update allows cartridges to operate for two detection events instead of one, potentially reducing operating costs by up to 50%.

Who is the new distribution partner for Kontrol Technologies Corp. (KNRLF)?

Kontrol has added a confidential health organization in the Middle East as a new distribution partner, gaining regional Government exclusivity for six months.