TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, is pleased to announce that it has launched Kontrol Carbon as its branded solution to support its commercial and industrial customers in the areas of GHG emission monitoring, management and carbon credit monetization.
“We see the continued growth in interest from customers who are dealing with GHG emission regulations or seek to voluntarily reduce their GHG emission footprint. We seek to leverage the Kontrol brand and assist our customers in better monitoring, managing and in some cases offsetting and/or verifying the capture of their GHG emissions,” says Paul Ghezzi, CEO of Kontrol Technologies. “Commercial and industrial buildings represent a significant source of GHG emissions, and we look forward to offering our solutions to help solve this global challenge.”
Solutions offered under the Kontrol Carbon brand will include GHG emission verification, carbon offsets and carbon capture verification. The solutions will be offered under the Kontrol Carbon brand by Kontrol’s wholly owned operating subsidiaries and will cover the industrial and commercial sector.
To accelerate its focus on the industrial building and customer market, the Company is pleased to welcome Ian Colquhoun, Ph.D., P.Geo to its Kontrol Carbon as Director of GHG Emissions. Ian is a PhD graduate of Western University and has a well-established career as a professional Geologist supporting the oil and gas and potash industries within Canada and the USA. He has worked as a petroleum geologist since 1995 and has been employed in managerial roles for small to medium sized, private, and publicly traded oil and gas companies since 2001. Ian represented the Ontario oil and gas industry as President of the Ontario Petroleum Institute (OPI) from 2012 to 2014. He has worked alongside of the Executive Director of the OPI in the preparation of the industry Sustainability Plan and Orphan Well Reclamation Program to the Ontario Provincial Government. Ian recently served as an industry representative on the Ministerial Petroleum Advisory Council.
Kontrol is also pleased to announce that it has been selected by a USA REIT, which operates hundreds of buildings across North America, to provide an energy management solution for the common areas of two (2) commercial buildings. Kontrol was selected following a submission and review process which began in 2021. As part of the energy management solution, Kontrol will install its SmartSuite technology and Cloud platform to provide visibility, analytics and smart control over areas which have experienced a large increase in energy costs. The installation is anticipated to be completed by the end of June 2022. For industry competitive purposes, the name of the REIT will remain confidential.
Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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. Forward-looking information contained in this press releases includes, but is not limited to, the following: future Carbon solutions to be offered by Kontrol for its potential customers; future goal of monetizing carbon credits; the anticipated timing of the installation of and energy savings that SmartSuite will provide for the USA REIT customer; the future success of any of Kontrol’s products; and customer demand relating to energy management.
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; that future Carbon solutions can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated timing of the installation of and energy saving relating to the SmartSuite will go as planned for the USA REIT customer; and that demand will continue for energy management products and for the Company’s products in particular.
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 the Company’s technologies will not prove as effective as expected; that customers and potential customers will not be as accepting of the Company's product and service offerings as expected and/or that demand for such products and services will not continue; that Kontrol Carbon will not be replicated in the future or that monetizing carbon credits will be attainable; and that the Company will not maintain its existing relationships or contracts on the same terms or at all.
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.