Kontrol Technologies Announces Record Revenues of $6.5 Million for month of August 2021
Innovation, Organic growth, and Acquisition driving substantial top-line growth
TORONTO, Sept. 9, 2021 /PRNewswire/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol" or the "Company"), a leader in smart building technology, today announced a record $6.5 million in revenue (unaudited) for the one month of August 2021.
"We delivered our highest revenue month in Kontrol's operating history based on strong organic growth and the consolidation of our recent acquisition," said Paul Ghezzi, CEO of Kontrol. "We remain focused on scaling the business across our operating portfolio and growing market share in the global smart buildings industry. Innovation is at the core of our business and the driving force behind the ongoing commercial building modernization cycle which we are uniquely positioned to capitalize on as we seek to create long term value for our shareholders."
The Company is executing on its strategic plan to innovate internally, accelerate organic growth through cross-sales opportunities, and make strategic value acquisitions on an opportunistic basis. Of particular emphasis is the continued growth of recurring revenues.
BioCloud continues to be accretive to year-to-date revenues and the Company has recently entered into a partnership with Steelcase (see press release dated August 16, 2021) which is set to launch this month. As a leader in office technology, Steelcase provides an established dealer network that is approximately 40 times the size of Kontrol's current independent distributor network.
New Innovation: Carbon Credit Platform
The Company is accelerating its carbon credit platform innovation in preparation for a launch in the Fall of 2021. Currently, organizations which seek out energy efficiency retrofit rebates from local utility companies will exchange ownership to carbon credits generated for those various rebates. Kontrol is establishing a new platform whereby those carbon credits associated with verifiable and measurable energy efficiency solutions and the associated greenhouse gas emission reduction can be monetized without the requirement for local utility incentives. Customers will be able to participate with Kontrol in the monetization of those carbon credits.
"The majority of large organizations have recognized the importance of improving their corporate sustainability initiatives and the need for reduction of greenhouse gas emissions in the building sector," continues Paul Ghezzi. "We look forward to adding value and incentivizing sustainable practices by offering a unique enhancement to monetize energy efficiency retrofits into carbon credits. We plan to deliver this through our existing energy retrofit technology solutions and the addition of a unique carbon credit monetization platform."
The Company will report its financial statements for the third quarter ended September 30th, 2021 on November 15th, 2021, and will provide conference call dial-in details in the coming weeks.
About Kontrol BioCloudTM
Kontrol BioCloud is an operating subsidiary of Canadian public company Kontrol Technologies. The BioCloud technology is a real-time analyzer designed to detect airborne viruses and pathogens. BioCloud is an air quality technology and not a medical device. BioCloud has been designed to operate as a safe space technology by sampling the air quality continuously. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and a silent notification system is created. BioCloud can be applied to any space where individuals gather. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com.
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.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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 industry. Kontrol BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
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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SOURCE Kontrol Technologies Corp.
Company Codes: OTC-QB:KNRLF, NEO:KNR, Frankfurt:1K8, OTC-PINK:KNRLF
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