Kontrol Technologies obtains multi-year service agreements for 18 new buildings

TORONTO – (COMMERCIAL THREAD) –Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) (“Control“or the”Society»), A leader in smart building technology, has entered into multi-year service contracts for 18 new buildings. Multi-year service agreements add to Kontrol’s growing recurring revenue base.

“We continue to grow our business by adding new customers and expanding the reach of our solutions with existing customers of our real estate asset and service management platform,” said Paul Ghezzi, CEO of Kontrol Technologies. “Our value proposition allows us to gain competitive offer opportunities while maintaining our focus on organic growth within our existing customer base. Taking a methodical approach to developing our connected building ecosystem gives us visibility into our business as we continue to gain market share and generate sustainable growth for our shareholders. ”

Continuous construction service

Kontrol provides ongoing service and asset management to a growing number of commercial and multi-residential REITs (real estate investment trusts) and property managers. As part of a typical engagement, Kontrol provides exclusive continuous service, asset management and critical solutions for heating, cooling and ventilation (HVAC) systems. The typical service commitment spans a period of 2-3 years and provides Kontrol with recurring revenue. The new buildings are located in Ontario, Canada, and include the addition of a new customer portfolio.

SmartSuite® technology update

Kontrol’s SmartSuite® technology was recently updated to provide peak shaving and peak demand management, an improvement implemented in direct response to local utility and customer requirements.

Peak demand is a term describing the periods in which electricity or electricity is expected to be supplied during a period at a level of supply well above average and at associated tariffs. Fluctuations in peak demand can occur on daily, monthly, seasonal, and annual cycles, and are typically recorded at 15-minute intervals by local utilities.

Avoiding these peak demand periods can often lead to a drop in the overall cost of energy, as local utilities seek to either reward good energy consumers or provide incentives for solutions that help mitigate demand. cutting edge of consumers.

“We continue to develop and evolve our multi-technology energy management platform to generate value for our customers by achieving energy savings and emission reductions, while maintaining a clear focus on helping our customers achieve their sustainability goals, ”concluded Ghezzi.

SmartSuite® offers integrated energy management and real-time control of any HVAC system via proprietary Internet of Things (IoT), wireless and cloud-based technology.

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 emissions monitoring.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and reviewing its profile on SEDAR at www.sedar.com

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 press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained in this document which are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information may be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “should”, “plan”, ” anticipate “,” intend “,” potential “,” proposed “,” estimate “,” believe “or the negative of these terms, or other similar words, expressions and grammatical variations, or statements that certain events or conditions “may” or “will” occur, or through policy discussions.

When Kontrol expresses or implies an expectation or belief about future events or results, that expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. These assumptions include, but are not limited to, that sufficient capital will be available to the Company and that the technology will be as efficient as expected.

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, if at all; that these technologies will not prove to be as effective as expected; such customers and potential customers will not accept the Company’s offer of products and services as expected; and government and regulatory factors affecting the energy conservation industry.

Therefore, one should not place undue reliance 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 of the date hereof and are based on the beliefs, estimates, expectations and opinions of management as of that date. Kontrol assumes no obligation to publicly update or revise these forward-looking statements or any forward-looking statements contained in any other document, whether as a result of new information, future events or otherwise, or to explain any differences. significant between subsequent actual events. and such forward-looking information, except as required by applicable securities laws. Readers are urged to carefully consider these and other potential factors, uncertainties and events, and not to place undue reliance on forward-looking information.

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