-And 6-Year Recurring Software and Maintenance Revenues-
TORONTO, ON / ACCESSWIRE / July 2, 2019 / Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) ("Kontrol" or "Company") is pleased to announce that the Company has been selected to provide a turn-key energy management installation with a value of approximately $550,000. In addition, the Company has received a 6-year contract for approximately $24,000 per annum to manage, monitor and maintain the energy system in real-time.
Paul Ghezzi, CEO of Kontrol Energy stated, "This is a new customer win for Kontrol and we are excited about this order and the potential for future business with the customer. We were able to win the new business using our proprietary energy management software to drive the installation of a new boiler system that will provide the customer with significant energy savings and real-time energy management. In the process we were able to shrink the customers energy footprint and improve their facilities management."
Due to industry competitive purposes, the customer which operates a portfolio of multi-residential properties, in Canada, will remain confidential. The installation will begin in Q3 2019 and be completed by Q4 2019.
Mr. Ghezzi further stated, "This energy installation is good example of how we are now able to cross-sell opportunities across our operating platform by combining our energy management software and retrofit services. Cross-selling to drive organic growth is a key strategic objective for Kontrol. Our energy management software not only drives new retrofit opportunities, but also forms the basis of our ongoing recurring management and maintenance program."
Working with Kontrol, the new customer will save approximately $1 Million in energy costs over the next 7 years and reduce their overall building emissions. In addition, their energy assets will be monitored and managed in real-time with the goal of maximizing energy savings, improving facilities management and overall building performance.
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 was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean's.
For further information, contact us at [email protected] Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
For further information, contact:
Paul Ghezzi, Chief Executive Officer
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Certain information included in this press release, including information relating to the large turn-key energy management installation, recurring revenues under multi-year service agreements, using proprietary energy management software to drive the installation of a new boiler system that will provide the customer with significant energy savings, the Company's vertically integrated energy solutions that will deliver energy savings in real time to improve operating efficiencies, reduce net operating income and increase property valuations and, the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, other statements that express the expectations of management or estimates of future performance, "forward-looking statements". The forward-looking statements in this press release are presented for the purposes of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. 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, the Company and that its revenues and growth projections will be consistent and meet with the Company's expectations, that the revenue and EBITDA run rate the Company's subsidiaries will be consistent with and meet the Company's expectations, that performance milestones will be achieved, 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,. 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, that the revenue and EBITDA run rate of the company's subsidiaries will be less than expected, performance milestones will not be achieved, there being a 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 the software as a service 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. 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.
SOURCE: Kontrol Energy Corp.