Kontrol Technologies Wins 9 New Buildings Under Multi-Year Service Agreements

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) has secured multi-year service agreements to manage building energy systems for 9 new commercial buildings. CEO Paul Ghezzi emphasized the importance of their technology in reducing rising energy costs through real-time management and monitoring. Kontrol also plans to monetize carbon credits from energy efficiency upgrades through the CSA Clean Projects Registry, with initial projects expected to be completed by May 2022. This expansion reinforces Kontrol's position as a leader in smart building technology.

Positive

• Secured multi-year service agreements for 9 new buildings, enhancing recurring revenue.
• Technology provides real-time energy management, appealing during rising energy costs.
• Plans to monetize carbon credits from energy efficiency upgrades, potentially increasing revenue.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol”) a leader in smart building technology, has been selected to provide ongoing building energy system management services to 9 new buildings, under multi-year service agreements, for 2 new commercial building customers.

“We are pleased to continue to add new customers under our recurring revenue platform and expand into 9 new buildings,” said Paul Ghezzi, CEO of Kontrol Technologies. “As energy costs continue to rise, our service and technology platform offers real-time energy management, monitoring and controls which can help run a more efficient building.”

Carbon Credit Update

Following the press release dated March 23, 2022, Kontrol intends to seek to monetize carbon credits from energy efficiency upgrades through the CSA Clean Projects Registry https://www.csaregistries.ca/ For each energy efficiency project which provides for a reduction in GHG emissions which can be quantified and verified, Kontrol will seek to create a verified carbon credit. The initial SmartSuite project referenced in Kontrol’s October 29, 2021 press release (link) is expected to be completed by the end of May 2022 and following completion, Kontrol expects that it will be submitted for carbon credit registration as part of Kontrol’s 2022 carbon credit projects. To quality for the CSA Clean Projects Registry independent verification is required subject to project performance.

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 statements in this press release include but are not limited to: statements with respect to Kontrol’s future business operations; future carbon credits through the CSA Clean Projects Registry; and timing of completion of certain projects.

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; the continuation of the CSA Clean Projects Registry; that the Company will be able to complete ongoing projects as currently anticipated or at all; 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 the Company’s 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220422005327/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What recent agreements has Kontrol Technologies Corp. announced related to KNRLF?

Kontrol Technologies Corp. has secured multi-year service agreements to manage energy systems for 9 new commercial buildings.

How does Kontrol Technologies plan to address rising energy costs?

Kontrol's technology offers real-time energy management and monitoring, helping clients operate more efficiently amid rising energy costs.

What is the timeline for Kontrol's initial carbon credit projects?

Kontrol expects the initial SmartSuite project to be completed by the end of May 2022.

What is the significance of the CSA Clean Projects Registry for Kontrol Technologies?

The CSA Clean Projects Registry will allow Kontrol to monetize carbon credits from verified energy efficiency upgrades.