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Monitoring and Service Solutions to Drive Recurring Revenue
TORONTO, October 12, 2021--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company"), a leader in smart building technologies, is providing its customers with new building automation controls and monitoring solutions for water conservation, including building-level and in-suite technology.
"The core of our growth strategy is to capture additional market share in each building in our operating footprint, while scaling across our customer portfolios," said Paul Ghezzi, CEO of Kontrol. "Our customers seek a unified platform to better manage their buildings and critical energy infrastructure, including the increasingly important water monitoring vertical. The more technology Kontrol deploys to provide real-time data and controls for important infrastructure and utilities, the greater our ability to deliver value to our customers, and ultimately to our shareholders."
A New Regulated Market
Kontrol is entering the water reporting, monitoring and conservation market due to increasing regulations and the importance of reducing water waste. It is typical that most large buildings report their annual water usage and water conservation plans. Importantly, areas that are impacted by drought measures can also include regulated conservation.
Integration with Global HVAC and Automation
Through integration with its latest acquisition of Global HVAC and Automation ("Global"), Kontrol will offer its customers smart meters and sensors on its unified SmartSite platform. Smart water meters are an important tool to help end users optimize water resource, monitor for leaks, and provide real-time service, however they often lack an easy to use and unified platform.
"This new opportunity is an example of our continued integration with Global’s operations," continued Ghezzi. "Prior to the acquisition, Global was outsourcing all building technology to third parties. We are now working diligently to bring those opportunities in-house and add to what is being offered to customers on a recurring basis."
As the Company deploys its technology to aggregate data, monitor and provide smart learning opportunities to optimize buildings in real-time, it seeks to create recurring revenues through both software and service. Customers can benefit from remote shutoff capability, data visualization, leak monitoring and overall consumption measured against conservation measures.
New Construction and Building Retrofit
With the completion of the Global acquisition, the Company can now offer solutions both in the new construction and retrofit 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.
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.
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 industry.
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.
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Kontrol Technologies Corp.
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: (905) 766.0400
MZ Group – MZ North America
Tel: +1 (949) 546-6326