TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company"), a leader in smart building technologies, is pleased to announce that the Company has been selected to provide its SmartSuite energy management technology in 3 buildings spanning more than 330,000 square feet of real-estate.
"We have developed our in-suite technology to solve the challenges that our customers face in terms of managing their buildings and suites,” says Kristian Lavereau, Director of Smart Buildings Technology. “The ability to reduce energy waste, manage operations remotely and reduce greenhouse gas (“GHG”) emissions in real-time gives our technology an important advantage, as we deliver value to our customers.”
"Following a review of the marketplace, we selected Kontrol and their SmartSuite® technology to help us control, manage and reduce in-suite heating costs in three of our multi-unit residential (apartment) properties in Ontario," says R. Jason Ashdown, Co-Founder & Chief Sustainability Officer, Skyline Group of Companies. "Heating costs are a significant expense as well as a leading source of GHG emissions. With SmartSuite® providing intelligent sensors and cloud access to in-suite settings, our operating team can monitor energy usage in real-time and help to reduce waste and lower GHG emissions. Skyline has always had a strong focus on sustainability. This partnership is the next step in providing a better standard of living for our tenants, staff, and investors while reducing our environmental impact.”
The SmartSuite® installations will commence and be completed in Q4, 2021. Over a period of 10 years, it is anticipated that the SmartSuite® technology will deliver approximately 2,882,850 kilowatt-hours in energy savings and approximately 2,000 tonnes in GHG emission reduction.
Carbon Credit Monetization
Following its previously announced press release dated September 28th, 2021, these installations will qualify for Kontrol’s Carbon Credit monetization platform.
"We are excited to welcome the Skyline Group of Companies to the Kontrol platform as we continue to deliver innovative technology to reduce energy waste and corresponding GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies.
There are more than 40 million multi-residential units in North America spanning thousands of buildings where the SmartSuite® technology can drive meaningful reductions in energy waste and emission reductions. Kontrol is actively pursuing this market through both its existing customer base and a focus on new customer additions. (www.statista.com)
About Kontrol Technologies Corp.
Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.
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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 and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation and carbon credit industry.
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