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Kontrol Technologies Corp (KNRLF) delivers industrial automation solutions through integrated control systems and IoT technologies. This dedicated news page aggregates official announcements, financial updates, and strategic developments for investors and industry analysts. Access verified information on KNRLF's innovations in smart infrastructure and process optimization.
Key updates include earnings reports, product releases, partnership agreements, and industry recognitions. The curated content provides clarity on the company's growth trajectory within the automation sector while maintaining focus on technological advancements. Regular updates ensure stakeholders stay informed about operational milestones and market positioning.
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Kontrol Technologies Corp. (CSE: KNR) (OTC: KNRLF) has announced its final approval to list on the NEO Exchange, moving away from the Canadian Securities Exchange (CSE). The shares will be delisted from CSE at the close of trading on May 5, 2021 and will commence trading on NEO under the symbol KNR on May 6, 2021. This transition aims to enhance shareholder trading capability and attract institutional investors. An upcoming Normal Course Issuer Bid (NCIB) program will replace the one currently in place on CSE.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) reported its financial results for the fiscal year ending December 31, 2020, featuring record Q4 revenues of $4.3 million, a 16% increase from Q4 2019. However, total annual revenues decreased by 15% to $12.3 million. The company achieved an adjusted EBITDA of $2 million, showing significant improvement year-over-year. Cash flow from operations improved to $483,686. The 2020 fiscal year was marked by the acquisition of Newfound Air and the successful launch of its BioCloud technology.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) has secured a Canadian antibody supplier to enhance its BioCloud product, aimed at detecting SARS-CoV-2. This advancement supports its growing strategic supply chain for anticipated global demand. The company also signed a Non-Disclosure Agreement with a leading global HVAC firm, boasting over $30 billion in annual revenues, to integrate BioCloud into their platform. Furthermore, Kontrol is exploring distribution opportunities in Japan, facilitated by the Canadian Trade Commissioners Office, opening doors to the Asian market.
Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) will announce its Fiscal Year End 2020 financial results on April 30, 2021. The comprehensive financial statements will be available on SEDAR. A call to discuss the financial outcomes is set for the same day at 4:30 PM (EST), featuring CEO Paul Ghezzi and CFO Claudio Del Vasto. Kontrol specializes in IoT, Cloud, and SaaS technology for smart buildings, focusing on improving energy management and air quality.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) has formed a strategic partnership with Danby Appliances to enhance its BioCloud manufacturing capabilities. Under this collaboration, OES Inc. will manage the global supply chain while Danby focuses on final assembly and scaling production. The partnership aims to meet increasing demand for BioCloud, a real-time viral detection system designed for various shared spaces. CEO Paul Ghezzi expressed optimism about the collaboration, emphasizing the importance of local manufacturing in Ontario.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) announced a partnership with Rowing Canada Aviron (RCA) to implement its BioCloud technology in the National Team Training environment. This innovative system detects airborne pathogens, including COVID-19, and will be installed at the Pacific Institute for Sport Excellence in Victoria, BC. CEO Paul Ghezzi states this technology aims to enhance safety for athletes during training. RCA praised BioCloud as a critical addition to their existing COVID protocols, fostering a safer training environment for Olympic and Paralympic hopefuls.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) has provided a corporate update, highlighting progress toward its 2021 goals. The company anticipates FY 2021 revenue of $33 million to $35 million, significantly up from $13 million in FY 2020, with expected adjusted EBITDA of $3.7 million compared to $2.0 million the previous year. The revenue mix is projected at 70% from core business and 30% from BioCloud. The company has reduced its debt by about $4 million and continues to pursue its uplisting strategy, indicating a positive outlook amidst challenges posed by COVID-19.
Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) announces an update on its manufacturing capacity related to the Ontario Together Fund. The company has received $1.2 Million of the total $2 Million funding for BioCloud production. To secure the remaining $800,000, it must increase production to 20,000 units/month. Improvements in production processes have been made, though challenges remain in the global supply chain, particularly concerning electronic components. The BioCloud unit is designed for real-time detection of airborne viruses, crucial for safer environments during the pandemic.
Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) has announced plans for a normal course issuer bid (NCIB) allowing the purchase of up to 2,061,236 common shares over the next 12 months, starting March 25, 2021. This represents about 5% of the total shares outstanding as of March 24, 2021. The board believes the current market price does not reflect the company's growth opportunities, aiming to enhance shareholder value. Previous NCIB saw the purchase of 30,500 shares at an average price of $0.58 CDN. The purchases will be executed by PI Financial Corporation.
Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) has partnered with Canadian Sport Institute Pacific to implement its Kontrol BioCloud viral detection technology at the Whistler Athletes Centre. This real-time analyzer detects airborne pathogens like COVID-19, enhancing safety for athletes training for the Tokyo Olympics. Paul Ghezzi, CEO, emphasizes the technology's role in restoring normalcy in athletics. The partnership supports athletes under strict COVID-19 protocols, allowing high-performance training while minimizing health risks.
