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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Kontrol Technologies Receives Initial Order from Leading Canadian Real Estate Company

October 29, 2021 GMT

TORONTO--(BUSINESS WIRE)--Oct 29, 2021--

Kontrol Technologies Corp. ( NEO:KNR ) ( OTCQB:KNRLF ) ( FSE:1K8 ) (” Kontrol ” or the ” Company ”), a leader in smart building technologies, is pleased to announce that the Company has been selected to provide its SmartSuite energy management technology in 3 buildings spanning more than 330,000 square feet of real-estate.

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“We have developed our in-suite technology to solve the challenges that our customers face in terms of managing their buildings and suites,” says Kristian Lavereau, Director of Smart Buildings Technology. “The ability to reduce energy waste, manage operations remotely and reduce greenhouse gas (“GHG”) emissions in real-time gives our technology an important advantage, as we deliver value to our customers.”

“Following a review of the marketplace, we selected Kontrol and their SmartSuite ® technology to help us control, manage and reduce in-suite heating costs in three of our multi-unit residential (apartment) properties in Ontario,” says R. Jason Ashdown, Co-Founder & Chief Sustainability Officer, Skyline Group of Companies. “Heating costs are a significant expense as well as a leading source of GHG emissions. With SmartSuite ® providing intelligent sensors and cloud access to in-suite settings, our operating team can monitor energy usage in real-time and help to reduce waste and lower GHG emissions. Skyline has always had a strong focus on sustainability. This partnership is the next step in providing a better standard of living for our tenants, staff, and investors while reducing our environmental impact.”

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The SmartSuite ® installations will commence and be completed in Q4, 2021. Over a period of 10 years, it is anticipated that the SmartSuite ® technology will deliver approximately 2,882,850 kilowatt-hours in energy savings and approximately 2,000 tonnes in GHG emission reduction.

Carbon Credit Monetization

Following its previously announced press release dated September 28 th, 2021, these installations will qualify for Kontrol’s Carbon Credit monetization platform.

“We are excited to welcome the Skyline Group of Companies to the Kontrol platform as we continue to deliver innovative technology to reduce energy waste and corresponding GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies.

Market Size

There are more than 40 million multi-residential units in North America spanning thousands of buildings where the SmartSuite ® technology can drive meaningful reductions in energy waste and emission reductions. Kontrol is actively pursuing this market through both its existing customer base and a focus on new customer additions. ( www.statista.com )

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.

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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Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

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.

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.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211029005354/en/

CONTACT: Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us

Tel: +1 (949) 546-6326

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: OTHER ENERGY PROFESSIONAL SERVICES CONSUMER ELECTRONICS ENERGY TECHNOLOGY RESIDENTIAL BUILDING & REAL ESTATE ENVIRONMENT CONSTRUCTION & PROPERTY INSURANCE BUILDING SYSTEMS OTHER TECHNOLOGY TELECOMMUNICATIONS

SOURCE: Kontrol Technologies Corp.

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PUB: 10/29/2021 10:20 AM/DISC: 10/29/2021 10:21 AM

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