TORONTO, ON / ACCESSWIRE / February 23, 2021 / Kontrol Technologies Corp. (CSE:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol Technologies" or "Kontrol" or "Company") is pleased to announce that it plans to provide real-time demonstration of BioCloud units in operation in various customer and/or pilot customer ("customer") applications. On a case-by-case basis and subject to the required customer approval the Company will provide video access and any relevant operating data.
"We understand the value and importance of sharing BioCloud units in operation across various customer applications," says Paul Ghezzi, CEO of Kontrol. "To the extent that we have customer approval we will also share operating data with respect to specific applications. Where we are unable to provide specific operating access to a customer application, we will seek to aggregate and showcase that data in a manner which meets any privacy constraints."
The Company will work with its customers to share photos and videos of the BioCloud units in operation and share that content. In certain cases, a customer pilot may be restricted from being shared based on the customer's requirements for non-disclosure. Over the coming weeks the Company anticipates sharing multiple demonstrations of BioCloud in operation.
Production Improvement
The Company has been working with its contract manufacturing partners to enhance the production design of BioCloud with a specific emphasis on reducing the number of circuit boards. The number of circuit boards has been reduced to 5 starting from an initial prototype design of 11. These improvements are considered part of the normal course of moving from prototype to scale production. The reduction in circuit boards will also provide an opportunity to lower manufacturing costs in the future.
Update to Distribution Model
The Company currently has 11 total distributors and 3 sales referral agreements. The sales referral agreements relate to the China and Middle East markets. The sales referral agreements are non-exclusive in nature. The Company has chosen to limit the number of Canadian non-exclusive distribution agreements, from its original plans, given its view that the Canadian market has sufficient distributors in place. The Company is currently negotiating multiple new potential agreements for the USA and the Middle East on a non-exclusive basis.
About Kontrol BioCloudTM
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, offices, retirement homes, hospitals, mass transportation and others. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com
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). Safe Space Technology is a Kontrol Trademark.
About Kontrol Technologies
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol Technologies provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.
Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com
For further information, contact:
Paul Ghezzi, Chief Executive Officer
[email protected] or [email protected]
Kontrol Technologies 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.
Forward-Looking Statements
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 the Company 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 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. In particular, successful development and commercialization of the Kontrol BioCloud are subject to the risk that the Kontrol BioCloud may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol's lack of track record in developing products for medical applications. 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.
SOURCE: Kontrol Technologies Corp.