Kontrol Technologies Operating Subsidiary CEM Specialties Launches New Technology Solution for the Cement Industry with Government Funding and Global Customer Pilot Partner; Targeting GHG Emission Reductions
TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), operating subsidiary CEM Specialties Inc. (“CEMS”) has launched its High-Temperature Dry Kiln Probe beta technology for the global cement industry and has been approved for Government funding to support the launch.
“We are looking forward to advancing this new technology development and have a pilot partner which is one of the largest cement companies with global operations,” says Gary Saunders, President of CEMS. “The potential addressable market for this technology covers thousands of cement plants globally as well as other specialized industries. The technology development and deployment will be supported through Government funding.”
High-Temperate Dry Kiln Development and Pilot
The technology development will consist of the design and engineering of the dry kiln probe, testing and validation with CSA standards approval, and evaluation of the probe in a high temperature kiln application in the facilities of one of the largest global cement companies in a specified facility in Ontario, Canada. The current design development has focused on reducing power consumption by up to 83%, installation footprint by up to 90%, and capital costs by approximately 50%, when compared to current technology in the market. The Company anticipates the pilot to commence in Q2, 2023.
“This new innovation from the emissions team adds to our growing portfolio of intellectual property as we seek to address the needs of our customers with a special emphasis on scalable technology and reducing GHG emissions,” says Paul Ghezzi, CEO of Kontrol Technologies.
The environmental and process monitoring of emissions is critical in industries, both for production (quality of finished products), reducing green house gases (GHG) and harmful emissions, but also fuel savings which reduces consumption of natural gas, coal, and alternative fuels. Cement plants are one of the major contributors to GHG emissions globally. Enhanced monitoring and management can improve operating efficiency and lead to GHG emission reductions.
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.
Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com
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Forward-Looking Statements
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 emission monitoring solutions and products to be offered by Kontrol for its potential customers; that the future success of any of Kontrol’s products; and customer demand relating to continuous emissions.
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 the anticipated timing of implementing continuous emission monitoring solutions for Customers will go as planned; and that demand will continue for continuous emission monitoring technology and the success of the High-Temperature Dry Kiln technology and for the Company’s products in particular.
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.
Contacts
Kontrol Technologies Corp.
Paul Ghezzi, CEO
info@kontrolcorp.com
11 Cidermill Avenue, Suite 201
Vaughan, ON L4K 4B6
Tel: (905) 766.0400
