SmartSuite IOT, Cloud and Software as a Service
TORONTO, ON / December 19, 2019 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or ‘Company‘) a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces that it is launching its new energy technology for the commercial, multi-residential, hospitality and industrial building market.
The SmartSuite solution has been in development for the past 2 years and is now certified for the Canadian market. As part of the launch Kontrol is entering into pilots with three leading commercial real estate management companies. Under the terms of the pilots Kontrol will install its SmartSuite hardware and software in three buildings for a period of 60 days.
Combining leading energy management in real-time with rich cloud analytics and smart learning algorithms, the SmartSuite technology is much more than a traditional smart thermostat.
“Our technology delivers energy savings in real-time by automating up to 80% of heating and cooling controls and provides instant analysis and feedback through our proprietary cloud solution,” says Kristian Lavereau, COO of Kontrol Energy. “Our plan is to deliver our technology on a Software as a Service (SaaS) basis allowing our customers the opportunity to avoid large capital expenditures and benefit from immediate energy savings.”
According to the EIA, North American buildings consume approximately $200 Billion USD in energy annually and up to 30% of that energy consumption is lost due to inefficiencies. Kontrol’s technology addresses that challenge by providing real-time energy savings through enhanced automation, smart learning algorithms and rich analytics in the cloud.
“For the first time real estate managers and owners will be able to assess their best performing building and best performing suites across their entire portfolio in real-time,” continues Mr. Lavereau. “Delivering our technology through a SaaS model provides us with a unique market opportunity.”
Concurrent with the pilots in Canada, Kontrol is in various non-binding negotiations to begin pilots in the USA and is also in the process of achieving the required certifications for key USA markets. An update on the pilots will be provided in Q1, 2020 as well an update on progress of expanding into the USA.
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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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 the launch of new energy technology for the commercial, multi-residential hospitality and industrial building market 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. 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.