–Global Smart Buildings Market–
TORONTO, ON / May 13, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or “Company”) is pleased to announce that it will launch multiple enterprise energy management software pilots with one of Europe’s leading Original Equipment Manufacturers (OEM) in the heating, cooling and ventilation (HVAC) market.
On April 27th, 2020 Kontrol announced the launch of its white label energy management and analytics platform. Following that announcement Kontrol has initiated two pilots with one of Europe’s largest manufacturers of HVAC equipment. The pilot sites have been designated for Bolivia and Germany. Under the terms of the pilots Kontrol will provide its SmartSite® enterprise software solution to integrate building automation, HVAC equipment, utilities, and thousands of individual building sensors. The pilot customer will provide building access and data sources which will be monitored and managed in real-time through the SmartSite enterprise software solution. The pilots will begin in May 2020 and operate for 90 days.
“We are very pleased to be working with our new pilot customer which operates globally to supply innovative heating, cooling and ventilation equipment for buildings,” says Paul Ghezzi, CEO of Kontrol Energy. “The pilots represent our first international opportunity for our SmartSite® enterprise platform.”
The pilot customer has more than 20,000 sites globally where their commercial HVAC systems have been deployed in large buildings including, but not limited to, hospitals universities, hotels, schools, office towers, apartment, and government buildings. The pilot customer seeks an enterprise software solution to create a global operating center to manage, monitor and control HVAC equipment and related building sites in real-time and under one unified platform.
For industry competitive purposes the pilot customer will not be disclosed until the pilots have been completed.
About SmartSite® enterprise solution
Using Kontrol’s patented technology the SmartSite® enterprise solution is enabled through the Cloud and provides real-time data, analytics, alerts as well as smart-learning and predictive maintenance. SmartSite® has been designed to manage, monitor, and control HVAC equipment and related building sites in real-time across tens of thousands of locations.
Under its white label offering Kontrol’s business model will be to provide initial software development and integration of all building and energy data for one-time fee of approximately $20,000 and provide real-time monitoring in the amount of approximately $1,000 to $2,000 per month on a software as a service (SaaS) model.
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.
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Caution Regarding Forward Looking Statements:
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 acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth, expansion of smart energy technologies into US markets, strategic partnerships to expand into North American Markets, 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. Subsequent to year-end, there was a global outbreak of COVID-19 (coronavirus), which has had a significant impact on businesses through the restrictions put in place by the Canadian, provincial and municipal governments regarding travel, business operations and isolation/quarantine orders. At this time, it is unknown the extent of the impact the COVID-19 outbreak may have on the Company as this will depend on future developments that are highly uncertain and that cannot be predicted with confidence. These uncertainties arise from the inability to predict the ultimate geographic spread of the disease, and the duration of the outbreak, including the duration of travel restrictions, business closures or disruptions, and quarantine/isolation measures that are currently, or may be put, in place by Canada and other countries to fight the virus. 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.