Kontrol Receives $405,000 Order from New USA Industrial Customer
Wednesday, February 26, 2020 9:25 AM
-Technology solutions for global gas emissions monitoring-
TORONTO, ON / ACCESSWIRE / February 26, 2020 / 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 it has received a CDN$405,000 order from a new USA industrial customer for the implementation of a continuous gas emission monitoring system.
The customer operates an industrial glass manufacturing facility and is regulated to deliver continuous emission data at the local and state level. Under the terms of the installation, Kontrol will provide both process control and government regulated emissions monitoring equipment. The installation is anticipated to commence in Q2 2020 and be completed in Q3 2020.
Software and Service Recurring Revenues
Following the completion of the installation Kontrol will deliver ongoing service and software monitoring on a recurring revenue basis and in the approximate amount of $40,000 per annum.
"Given the importance of continuous gas emission regulation and real-time data for local and state governments in the USA, we are anticipating increased demand in the gas emission monitoring sector. This demand for our solutions is further driven by the increase in accountability for greenhouse gas reductions", says Paul Ghezzi, CEO of Kontrol.
Clarification to Press Dated February 24, 2020
As per the press release dated February 24th, 2020 in relation to Kontrol's engagement of Integrous Capital to provide investor relations services in the United States, Kontrol will pay Integrous $12,500 USD per month for a period of 6 months.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency and smart building 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 is one of Canada's fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean's.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by 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.
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/next acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth and revenue growth, strategic partnerships to promote and deploy energy and asset performance tracking software and technology deployment for improved emission compliance and real-time management of energy, recurring 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.
SOURCE: Kontrol Energy Corp.