TORONTO, ON / ACCESSWIRE / February 24, 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 that it has successfully completed its initial commercial pilots, previously announced on December 18, 2019, and will begin production of its leading new energy technology solution for the commercial, multi-residential, hospitality and industrial building markets in Q2 of 2020.
Combining energy management in real-time with rich cloud analytics and smart learning algorithms, the SmartSuite technology is much more than a traditional smart thermostat. In addition, SmartSuite can be deployed rapidly and at a much lower cost than traditional building automation systems.
“We are excited to complete the initial pilot phase of our new technology and are now entering the production and scaling phase,” says Kristian Lavereau, COO of Kontrol. “Our SmartSuite technology delivers energy savings in real-time by automating up to 80% of heating and cooling controls and provides instant analysis and feedback through our proprietary cloud solution.”
Pricing and Market
Each SmartSuite can be installed, on a turn-key basis, for less than $500 or can be purchased by customers on a software as a service (SaaS) basis under a 5-year agreement. In many jurisdictions in Canada and the US and subject to the local utility policy the SmartSuite may qualify as an energy savings technology and may eligible for applicable incentives.
For a typical Kontrol customer in the multi-residential (apartment) sector operating a building of up to 400 apartment units the SmartSuite can be installed for approximately $200,000 (entire building). Based on a typical energy profile the SmartSuite can deliver approximately $90,000 per year in energy savings and deliver an approximate 2 year pay-back to the customer. By increasing net operating income through the reduction of energy costs, the SmartSuite technology will also provide an increase in building value.
Sales Pipeline and Strategy
With approximately 15,000 units of the previous version of the SmartSuite installed and operating across Canada, Kontrol has an established customer base that will be presented an upgrade opportunity to next generation of the technology. Beginning in Q2 2020 Kontrol will initiate upgrade opportunities for each of its customers.
U.S. and Middle East Markets
Following the completed pilots in Canada, Kontrol is focused on selecting potential pilot sites and customers in the U.S and Saudi Arabia.
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.
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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 the launch of new energy technology for the commercial, multi-residential hospitality and industrial building market possible future acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth, , expansion of smart energy technologies into US markets, strategic partnerships to expand into North American Markets, acceleration of recurring SaaS 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.
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