Kontrol Responds to US Government Agency Request, Wins New Recurring Revenue Customer

TORONTO, August 27, 2021 /CNW/ – Control Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) (“Control“or the”Society“) a leader in smart buildings and cities through IoT, Cloud and SaaS technologies, established its first recurring revenue through its recent acquisition, Global HVAC and Automation (“Global“) and continued market expansion of its BioCloud technology.

“Global has seamlessly integrated into the Kontrol platform, having already begun to grow our recurring revenue base in the weeks since the acquisition closed,” said Paul Ghezzi, CEO of Control. “We are delighted to already see value creation from this business and look forward to realizing further operational synergies. Additionally, our substantial progress with the expansion of our innovative BioCloud technology continues to materialize in both the public and private sectors.

HDIAC (Homeland Defense and Security Information Analysis Center)

Through its previously announced agreement with Marshall Communications, Kontrol answered a request for HDIAC’s BioCloud. The response includes updated independent lab testing for BioCloud and research, as detailed below, and was handled by the Marshall Communications team.

New recurring revenue gain

The acquisition of Global provides Kontrol with the opportunity to continue to grow its recurring revenue platform. Global has traditionally focused on large projects while outsourcing construction services and software revenues to third parties. By bringing these projects in-house through a vertical integration strategy, Kontrol seeks to benefit from additional margin growth. Typically, Kontrol operates its construction services platform with a gross margin of around 60%. Kontrol is pleased to have established its first recurring service customer with the help of Global in a short time and cites many other opportunities with Global. Service agreements can range from $125,000 at $150,000 per year and over several years for Global customers.

Update of lab tests and report

Kontrol BioCloud recently completed 8 months of independent lab testing and its research is being shared with various levels of government and key distribution partners under the NDA. A summary of the updated research will be posted on the Kontrol website after legal and patent review. Independent lab testing was performed at a leading Canadian university.

Health Canada

As previously announced, BioCloud testing in a Health Canada Level 4 laboratory, at the request of various government organizations, is continuing. The Company has no control over the testing schedule. Being invited to test in a level 4 laboratory is a great achievement, since BioCloud is not a medical device. The Company will provide the results when received. As BioCloud is not a medical device, it does not require Health Canada or FDA approvals.

Steelcase Inc.

As Kontrol mobilizes for the launch of Biocloud with Steelcase Inc. (“Steel case“), the company is preparing new videos and joint marketing materials for Steelcase’s impressive distribution network. Kontrol plans to share these materials shortly and appreciates the efforts of Steelcase’s marketing and operations team.

annual general meeting

The Company has set the date of its annual general meeting at Thursday, September 30and, 2021. The information circular and other meeting materials and forms should be mailed on August 31st, 2021.

About 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. are available on its website at www.kontrolcorp.com.

About Control BioCloudMT

Control BioCloud (“BioCloud“) is a real-time analyzer designed to detect airborne pathogens. It was designed to work as a safe space technology by sampling air quality over time. With a chamber proprietary detection sensor that can be overridden as needed, viruses are detected and an alert system is created.BioCloud was designed for spaces where people congregate, including classrooms, offices, nursing homes , hospitals, public transport and others.

Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com

Neither IIROC nor any stock exchange or other securities 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. Any statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some instances, forward-looking information may be identified by words or phrases such as “may”, “will”, “expect”, “probable”, “should”, “would”, “expect”, ” anticipates”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative form of these terms, or other similar words, phrases and grammatical variations, or statements that certain events or conditions “may” or “will” occur, or through policy discussions.

Where Kontrol expresses or implies an expectation or belief about future events or results, such expectation or belief is based on assumptions made in good faith and believed to be reasonably valid. These assumptions include, but are not limited to, that sufficient capital will be available to the Company and that the technology will be as effective 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.
statements. These risks include, but are not limited to, that sufficient capital and financing may not be obtained on reasonable terms, if at all; that these technologies will not prove as effective as expected; such customers and potential customers will not accept the Company’s offering of products and services as intended; and governmental and regulatory factors impacting the energy conservation industry. Control
BioCloud is an air quality technology and not a medical device. The Company makes no express or implied representation that its product has the ability to eliminate, cure, or contain COVID-19 (or the 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 of the date hereof and are based on management’s beliefs, estimates, expectations and opinions as of such date. Kontrol undertakes no obligation to publicly update or revise these 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 differences material between subsequent actual events. and such forward-looking information, except as required by applicable securities laws. Readers are cautioned to carefully consider these and other factors, uncertainties and potential events and not to place undue reliance on any forward-looking information.

SOURCEControl Technologies Corp.

For more information: Kontrol Technologies email contact: [email protected]; Investor Relations: Brooks Hamilton, MZ Group – MZ North America, [email protected], Phone. : +1 (949) 546-6326

Related links

https://kontrolcorp.com/