Telkonet Inc. Lands In Europe with Plans to Become a Strategic Technological Partner to Face the Rising Energy Costs

Rhea-AI Summary

Telkonet, Inc. (OTCQB:TKOI) has launched its occupancy-based Energy Management Solutions (EMS) in Europe, aiming to help facilities reduce energy costs by 20-40%. With a partnership with VDA Group S.p.A., Telkonet aims to tap into the European market, boasting a 29% revenue increase since 2021. Their solutions target the 7 million hotel rooms across Europe, where only 10% are equipped with similar systems. The company is optimistic about growth despite potential risks including liquidity issues and market demand uncertainties.

Positive

• Launched Energy Management Solutions in Europe, targeting a significant reduction in energy costs for facilities.
• Partnership with VDA Group S.p.A. has facilitated a 29% revenue increase since 2021.
• Large growth opportunity in the European market with only 10% of hotel rooms having installed similar systems.

Negative

• Risks associated with liquidity issues that may impact operations.
• Potential inability to comply with financial covenants under existing credit facilities.

WAUKESHA, WI / ACCESSWIRE / November 2, 2022 / Telkonet, Inc. (OTCQB:TKOI), (the "Company" or "Telkonet"), IoT innovator and a listed U.S. company based in Wisconsin, lands in Europe and launches its new occupancy-based Energy Management Solutions (EMS) in the European market. The Company anticipates that its EMS will be able to significantly reduce costs of utility bills, in some cases by 20 to 40 percent, and it will strive to be a strategic technology partner for all facilities that are suffering from rising energy costs. Thanks to the ease of installation of the wifi-capable products, Telkonet's solutions can be considered for the European retrofit market.

The high energy prices that have been affecting Europe in recent months can be buffered with the use of modern digital technologies, even in a peculiar area such as hospitality and accommodation. In particular, Telkonet believes that the use of EMS can enable operators to save 20 to 40 percent of costs on their bills, resulting in shorter payback time from the investment.

By working with VDA Group S.p.A. ("VDA"), the Company's majority stockholder and a multinational company headquartered in Italy that has been operating in GRMS for 40 years, the Company believes that it has excellent growth opportunities in the European market. Since partnering with VDA in 2021, Telkonet marked +29% compared to 2021 revenues. The Company looks to the future with positivity considering that their products are designed to curb high energy prices. By leveraging VDA's long history with GRMS in Europe, the Company intends to access a large, established international sales network and an expanded product range. There are 7 million hotel rooms across the European continent, and only 10 percent have installed GRMS and/or EMS systems, offering the Company a great opportunity for growth that it does not intend to let slip away.

ABOUT THE GROUP

Telkonet Inc. is a U.S. company based in Waukesha, Wisconsin. An IoT innovator focused on smart automation and energy management, Telkonet enables guests (occupants) to intelligently control energy use based on their preferences, reducing energy consumption, and improving facility management capabilities. In 2021, VDA Group S.p.A. became Telkonet's majority shareholder and has been working with Telkonet to facilitate Telkonet's access international markets. VDA Group S.p.A. is an Italian corporation of 40 years of experience in GRMS for the hospitality market headquartered in Italy, with sales companies in the United Kingdom, Middle East, and Asia Pacific operating in more than 50 countries.

FORWARD LOOKING STATEMENTS

Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of statements that include, but are not limited to, phrases such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. Such statements involve a number of risks and uncertainties such as the Company's ability to access sources of liquidity necessary to continue its operations and continue as a going concern, the Company's potential inability to extend the maturity date of its credit facility and/or comply with financial covenants under its credit facility, the continued impact of the COVID-19 pandemic on the Company's operations and financial results, as well as the economy generally, competitive factors, technological development, market demand, and the Company's ability to obtain new contracts and accurately estimate net revenue due to variability in size, scope and duration of projects. Further information on potential factors that could affect the Company's financial results can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and in its Reports on Forms 8-K filed with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to update any forward-looking statements as a result of new information, future developments, or otherwise, except as expressly required by law.

Media Contacts:

Telkonet Investor Relations
414.721.7988
ir@telkonet.com

Barbara Alvino, Communication Manager
0039 3467820693
balvino@telkonet.com

SOURCE: Telkonet, Inc.

View source version on accesswire.com:
https://www.accesswire.com/723537/Telkonet-Inc-Lands-In-Europe-with-Plans-to-Become-a-Strategic-Technological-Partner-to-Face-the-Rising-Energy-Costs

FAQ

What is Telkonet, Inc.'s recent announcement regarding their Energy Management Solutions in Europe?

Telkonet announced the launch of its occupancy-based Energy Management Solutions (EMS) in Europe, aiming to help facilities reduce energy costs by 20-40%.

How has Telkonet partnered with VDA Group S.p.A. benefited the company?

The partnership with VDA Group S.p.A. has resulted in a 29% revenue increase since 2021 and provides access to a large international sales network.

What market opportunity does Telkonet see in Europe?

Telkonet sees an opportunity to grow in Europe, with only 10% of the 7 million hotel rooms equipped with Energy Management or Guest Room Management Systems.

What are the risks associated with Telkonet's operations mentioned in the press release?

The risks include potential liquidity issues affecting operations and the possibility of failing to comply with financial covenants.