Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company“), a leader in smart building technologies, announces that it continues to scale its technology and solutions as it surpasses 400 customer buildings and is set to double its market share in 2022. Accelerating energy costs, GHG emission penalties, stakeholder activism demanding more robust sustainability initiatives and the need for healthy buildings is driving record growth in the Company’s operating platform.
“The commercial, multi-residential and industrial building sectors are facing severe challenges with rising energy costs and the shift by Governments to penalize excessive GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies. “In addition, shareholder activism is demanding that large real estate asset managers, owners and operators take immediate action to reduce emissions across their building portfolios. All of these factors are creating tailwinds in our business across our energy, emissions and air quality technology and service offerings.”
The Company has previously announced preliminary record revenues for Q3, 2021 of at least $18 Million (see press release dated October 13th, 2021). Final results for Q3 will be presented on November 15th.
Including the recent acquisition of Global HVAC and Automation (“Global”), the Company has previously announced a record order book of $160 Million. Based on its current order book and the new opportunities across its operating platform, Kontrol anticipates that it will double its customer building footprint in 2022 to 800 buildings. This is an internal management estimate based on the existing confirmed order book, the current quoting activity and the Company’s 2022 outlook. The growth in customer buildings should be considered forward looking information.
“The recent rise in energy and utility costs, coupled with concerns over GHG emissions and the importance of embedded intelligence to drive healthy and sustainable buildings is accelerating the building modernization cycle. We are currently quoting at record levels across our operating platform,” continues Ghezzi. “Kontrol continues to increase its brand and technology solutions platform for a growing blue chip customer base.”
About 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 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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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; government and regulatory factors impacting the energy conservation industry, as well as the commercial, multi-residential and industrial building sectors
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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