Kontrol Technologies Wins ESG and Net Zero Emission Engagement With New City Customer; Third Public Sector Win for ESG and Kontrol Carbon Platform

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 been selected by one of Ontario’s largest Cities (the “Customer”) to deliver a Net Zero Emission and Climate Action plan. Kontrol won the new Customer through a competitive bid process.

Third Public Sector Win in 2022

“This is a major accomplishment for Kontrol with its third public sector customer in a short period of time,” says Paul Ghezzi, CEO of Kontrol Technologies. “Our team continues to drive new wins in the public sector as the policy shift to net zero emissions continues in earnest. Buildings across the commercial and industrial sector represent a primary source of ongoing emissions and our customers are seeking solutions to mitigate and offset those emissions.”

The Customer is a City in the Province of Ontario with hundreds of buildings under management and has a goal of advancing their target of net zero emissions by 2030. For industry competitive purposes the Customer will not be named.

ESG and Kontrol Carbon

“The majority of total building area that exists today will still exist in 2050,” continues Ghezzi. “In order to tackle emissions and for organizations to achieve their sustainability goals, the built environment needs to be addressed on a building-by-building basis.”

Through its operating subsidiaries Kontrol has developed the Kontrol Carbon platform which includes initial design, feasibility, implementation, and potential carbon credit monetization.

Building Actions for Net Zero Emissions

For full building sector decarbonization, every existing building will need to undergo energy upgrades involving a combination of improvements in the energy efficiency of building operations, a shift to electric or district heating systems powered by carbon-free renewable energy sources, and the generation and/or procurement of carbon-free renewable energy. Source: www.architecture2030.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 Carbon solutions to be offered by Kontrol for its potential customers; future goal of monetizing carbon credits; the anticipated timing of the initial design, feasibility, implementation, and potential carbon credit monetization of the Company’s Net Zero emissions solution; installation of and energy savings that the Company’s technology will provide for the Customer; 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 Carbon solutions can be conducted 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 timing of implementing the Net Zero emissions solution and energy saving design for the Customer will go as planned; and that demand will continue for energy management products 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.

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Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

601 Rowntree Dairy Road, Unit B

Vaughan, ON L4L 5T8

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.