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 its entry into the net zero building infrastructure market through its operating subsidiary Global HVAC and Automation (“Global”).
“Following our acquisition of Global we have been focused on the many opportunities afforded by Global’ s scale and size,” said Paul Ghezzi. “In the past Global has focused on traditional energy efficient HVAC installations for new buildings. We are now pleased to offer our customers net zero buildings solutions including VRV/VRF systems and geothermal installations. Through these solutions we seek to grow our market share with our existing new construction customers and add those customers who seek to reduce their emissions and achieve net zero emissions. Global has completed its first integrated installation of VRV/VRF technology and is now in a position to grow into this exciting new market which will also make a significant impact on the reduction of GHG emissions.”
According to the World Building Council, the building sector, which is responsible for global emissions roughly equivalent to that of China, must operate at “net zero carbon” by 2050 if global warming is to remain under two degrees Celsius, the limit enshrined in the Paris Agreement. www.worldgbc.org
VRV/VRF Technology Integration
Variable refrigerant flow (VRF), also known as variable refrigerant volume (VRV), is an HVAC technology invented by Daikin Industries, Ltd. in 1982. VRFs use refrigerant as the cooling and heating medium. This refrigerant is conditioned by one or more condensing units and is circulated within the building to multiple indoor units. Unlike conventional chiller-based systems, VRV/VRF allows for varying degrees of cooling and in more specific areas may supply hot water in a heat recovery configuration while improving overall building energy efficiency. Also, air handlers and large ducts are eliminated which can reduce the height above a dropped ceiling as well as structural impact as VRF uses smaller penetrations for refrigerant pipes instead of ducts. This translates into lower integration costs and higher energy savings with a corresponding reduction in greenhouse gas emissions.
Geothermal Technology in High Rise Buildings
Global will commence quoting geothermal technology solutions to their customers in Q4, 2021.
Geothermal heating and cooling systems have a significant potential to reduce the energy footprint and environmental impact of buildings. In addition to offering the highest efficiency among the HVAC options commercially available, geothermal systems eliminate on-site fossil fuel combustion. In addition, increasing regulations around emissions are creating opportunities for Geothermal localized distribution plants to offer a clean source of renewable energy that unlike solar and wind energy, can be scaled to match a buildings overall size and energy demands. According to Global Market Insights the Geothermal market is anticipated to growing to $50 Billion USD per annum in 2027 https://www.gminsights.com/industry-analysis/geothermal-energy-market.
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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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.
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, as well as the geothermal energy market and net zero building infrastructure market.
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.