Kontrol Technologies Advances Net Zero Building Infrastructure with Launch of SmartPower® Energy as a Service
Begins Quoting Large-Scale Building Applications with a Focus on Recurring Revenues and Monetization of Carbon Credits
TORONTO–(BUSINESS WIRE)–$KNR—Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company“), a leader in smart building technologies, is advancing net zero building infrastructure with the launch of SmartPower®, a fully integrated Geothermal and VRF (variable refrigerant flow) solution, for the new construction and energy retrofit market.
“Launching the SmartPower® brand and solution provides a significant opportunity to grow our recurring revenues and monetize carbon credits as we continue to scale with profitability,” said Paul Ghezzi, CEO of Kontrol Technologies. “Heightened demand for net zero emission infrastructure is being driven by the adoption of carbon taxes, in key North American market regions, coupled with stakeholder activism and corporate social responsibility. By advancing new sustainable energy solutions that seamlessly integrate into our existing technology stack, we are well positioned to continue to grow our market share.”
Kontrol Technology Platform
The launch of SmartPower® for on-site power generation for heating and cooling of entire buildings is a valuable technology addition to the Company’s current platform, including SmartSite® software for building HVAC control and optimization and SmartSuite® hardware and software for in-suite energy management.
The addition of SmartPower® provides the opportunity to sell energy as a service for up to 20 years and generate recurring revenues. Geothermal power plants are a green house gas emission reduction technology which Kontrol will seek to monetize as part of its previously announced carbon credit program (see press release dated September 28, 2021).
Continued Ghezzi, “The shift to more sustainable infrastructure is an accelerating opportunity for Kontrol, as buildings continue to represent a leading source of greenhouse gas emissions. Kontrol’s customer base includes real estate investment trusts, asset managers and developers with hundreds of millions of square feet of building assets under management and in development.”
Kontrol has commenced the quoting of multiple new build high rise opportunities where the applicable customer has determined that a Geothermal power plant and VRF solution will assist in mitigating carbon taxes, provide more sustainable building infrastructure, and deliver stability in energy pricing. The SmartPower® solution will be the main source of energy for the entire building and the electricity grid will serve as the back up.
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 infrastructures.
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.
Kontrol Technologies Corp.
Tel: (905) 766-0400
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