Kontrol Technologies Corp - KNRLF STOCK NEWS

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has announced a new Normal Course Issuer Bid (NCIB) to repurchase up to 2,431,898 common shares over a 12-month period, starting August 8, 2022. This represents approximately 5% of the issued shares as of July 29, 2022. The NCIB aims to enhance shareholder value and reflect the company’s underlying worth. The previous NCIB allowed repurchase of 2,102,885 shares, with 82,600 shares bought at a weighted average price of $1.27. All purchases will occur through PI Financial Corporation and be in compliance with NEO regulations.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) announced that its subsidiary, CEM Specialties Inc., is receiving up to $300,000 from the NRC IRAP for the development of the new Kontrol BioWater analyzer. This technology aims to offer real-time detection of viruses, including COVID-19, in wastewater, significantly reducing the time required for testing compared to traditional methods. With growing emphasis on wastewater surveillance for public health, this project enhances Kontrol's technology portfolio and responds to market needs.

Kontrol Technologies Corp. (OTCQB:KNRLF) has been selected by a leading Canadian university to provide energy assessments and a carbon reduction roadmap, set for completion in June 2022. This partnership marks a new market vertical for Kontrol, which aims to expand its energy management solutions. The university's goal is to achieve Net Zero emissions by 2040, covering 32 buildings and 2.5 million square feet. Kontrol’s SmartSite platform will facilitate real-time monitoring to enhance energy efficiency.

Kontrol Technologies Corp. (OTCQB: KNRLF) has successfully completed its first SmartSuite installation in Florida, marking a significant step in its expansion into the U.S. market. The SmartSuite platform integrates with HVAC systems to provide real-time energy management and emission reduction. Kontrol aims to scale its solutions to assist customers in lowering energy costs and meeting sustainability targets. The company is preparing for a second installation expected by June 2022, reinforcing its commitment to enhancing energy efficiency and sustainability in buildings.

Kontrol Technologies Corp. (OTCQB:KNRLF) has been awarded a multi-year contract for emissions monitoring related to a new rail infrastructure project in Ontario. This opportunity will enhance Kontrol's recurring revenue through the installation of custom continuous emissions monitoring systems (CEMS) and analytics equipment. CEO Paul Ghezzi highlighted that this project signifies a new customer and emphasizes the expansion of their Kontrol Carbon solution platform. The project, part of a high-speed commuter rail expansion, secures an important role for Kontrol in infrastructure compliance.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) reported record Q1 2022 revenues of $26.6 million, a 702% increase year-over-year. The company achieved a net income of $1.6 million, reversing a loss of $823,733 in Q1 2021. Adjusted EBITDA rose 123% to $2.5 million, while gross profit was up 281% at $6.7 million. The company also announced contracts worth $25.7 million for HVAC projects.

Kontrol Technologies Corp. (OTCQB:KNRLF) will report its financial results for Q1 2022 on May 16, 2022. A conference call to discuss these results is scheduled for 8:30 AM Eastern on the same day, hosted by CEO Paul Ghezzi and CFO Claudio Del Vasto. Investors can find complete financial documents on SEDAR.

Kontrol Technologies Corp. has launched an at-the-market equity program (the ATM Program) allowing the issuance of up to $10,000,000 in common shares. This initiative aims to enhance capital expenditures, working capital, and general corporate purposes, including ongoing research and development. The program will remain effective until all shares are sold or the Base Shelf Prospectus expires. Distributions will be at market prices, with the program managed under an equity distribution agreement with Echelon Wealth Partners Inc.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) is advancing its technology portfolio with the launch of Kontrol BioWater, building on its existing BioCloud technology for early viral detection in wastewater systems. With a budget of $300,000 allocated for R&D, the new system aims for real-time, cloud-based monitoring. This innovation supports public health strategies by providing rapid insights into viral presence, crucial for COVID-19 monitoring. However, the company acknowledges the uncertainty surrounding future government funding for its projects.