Kontrol Energy Completes Successful Pilot with Global Leading Plant-Based Meat Substitute Company
TORONTO, ON / ACCESSWIRE / November 26, 2019 / Kontrol Energy Corp. ( CSE: KNR )( OTCQB:KNRLF )( FSE:1K8 ) (“Kontrol” or “Company”) is pleased to announce that it has successfully completed the previously announced pilot for continuous process improvement, through its wholly owned subsidiary, CEM Specialties Inc. (“CEMSI”) in the facility of a global leading plant-based meat substitute company.
Under the terms of the pilot, CEMSI installed process analyzer equipment (the “analyzer”) and associated real-time monitoring services to assist in the rapid evaluation, measurement and validation of organic inputs. The value of the installed analyzer and services is approximately $150,000 USD. Following the successful completion of the pilot on November 22nd, 2019, the pilot Customer (the “Customer”) has indicated that they intend to purchase 2 analyzers for a total of approximately $300,000 USD as an initial order. The order is anticipated to be placed within 2 weeks following the completion of the pilot. The Customer has also indicated that at the time of the order Kontrol will be able to use their name and globally recognized brand in a joint press release.
The Customer operates 6 global facilities and each facility may require up to 10 analyzers per location to meet their production demands.
“Our team was able to rapidly deploy this new customized industrial technology solution and deliver great results for the Customer,” says Gary Saunders, President of CEMSI.
“We are pleased that we delivered this successful pilot for a new industrial technology application in a rapidly growing market,” says Paul Ghezzi, CEO of Kontrol Energy. “We look forward to growing our technology solutions with the Customer globally.”
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Kontrol Energy is one of Canada’s fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean’s.
CEMSI is a wholly owned subsidiary of Kontrol. Since 1992 CEMSI has been helping companies throughout the world to design, integrate, and manage continuous emission monitoring and process improvement systems. CEMSI has recently entered into the plant-based meat substitute industry and looks forward to expanding its solutions with the pilot customer and other applicable industry participants.
For further information, contact:
Paul Ghezzi, Chief Executive Officer
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding possible future/next acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth and revenue growth, expansion into the plant-based protein sector, expansion of smart energy technologies into US markets, strategic partnerships to expand into North American Markets, smart factory expansions and partnerships, acceleration of recurring SaaS revenues, the provision of solutions to customers and Greenhouse Gas emissions reductions, proposed financial savings and sustainable energy benefits and energy monitoring. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, and others. 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, lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that 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 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 the Company 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, except as required under applicable securities law.
SOURCE: Kontrol Energy Corp.
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