Kontrol Technologies Wins Multiple New Projects with Liquified Natural Gas Emission Monitoring and Analytics Customer

Rhea-AI Summary

Kontrol Technologies Corp. (OTCQB:KNRLF) has announced an expansion into the liquified natural gas (LNG) market, adding four new projects for emission monitoring and analytics. The company aims to establish a presence in New York State and expand further in the USA. CEO Paul Ghezzi highlights the intersection of interests for various stakeholders in this market. Kontrol has a history of providing emission solutions to major industrial customers and sees the LNG sector as a new revenue stream. Additionally, 580,000 stock options and 350,000 restricted share units were granted to management and key employees, with stock options exercisable at $0.65 over three years.

Positive

• Expansion into the liquified natural gas (LNG) market with four new projects.
• New revenue vertical identified in the LNG sector, primarily targeting the USA market.
• CEO emphasizes collaboration opportunities with project developers, landowners, and utilities.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities has expanded into new projects with its previously announced Customer in the liquified natural gas (LNG) market to provide emission monitoring and analytics (see press release dated March 1, 2023). The Company has expanded to four projects in total.

“We are excited to be entering and expanding into this new market vertical which intersects with the interests of multiple stakeholders including project developers, landowners and utilities,” says Paul Ghezzi, CEO of Kontrol Technologies. “We are looking forward to establishing our presence in the initial market of New York State and growing into other regions of the USA market.”

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.

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.

The Company further announced it has granted 580,000 incentive stock options (the “Options”) to certain management, directors, and employees pursuant to the Company’s Stock Option Plan and 350,000 restricted share units (RSUs) to a key employee pursuant to the Company’s Share Compensation Plan. The Options shall vest four months following the date of issuance and shall be exercisable by the holder at $0.65 per common share for a period of three years. Each RSU will allow the holder to acquire one common share of the Company and shall vest immediately.

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/20230322005341/en/

Kontrol Technologies Corp.

Paul Ghezzi, CEO

info@kontrolcorp.com

11 Cidermill Avenue, Suite 201

Vaughan, ON L4K 4B6

Tel: (905) 766.0400

Source: Kontrol Technologies Corp.

FAQ

What are the recent projects announced by Kontrol Technologies Corp. related to stock symbol KNRLF?

Kontrol Technologies Corp. announced four new projects in the liquified natural gas (LNG) market for emission monitoring and analytics.

What is the strategic importance of the LNG market for Kontrol Technologies Corp. (KNRLF)?

The LNG market represents a new revenue vertical for Kontrol Technologies, enabling expansion into the USA market.

When did Kontrol Technologies Corp. expand its operations in the LNG market?

Kontrol Technologies Corp. announced its expansion into the LNG market on March 22, 2023.

What financial incentives did Kontrol Technologies Corp. offer to its employees recently?

Kontrol Technologies granted 580,000 stock options and 350,000 restricted share units (RSUs) to its management and employees.

At what price are the stock options exercisable for Kontrol Technologies Corp. (KNRLF)?

The stock options are exercisable at $0.65 per common share for a period of three years.