Further update from management lists firm dates to move projects forward "(“Kontrol” or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology is pleased to provide a corporate update relating to progress of operations.
Highlights
Kontrol previously announced on March 14, 2019 that it had entered into a letter of intent to acquire an established and leading provider of electrical retrofit services. Subject to receipt of the target’s August 31, 2019 fiscal year end financial statements, finalizing the definitive purchase agreement and the satisfaction of customary conditions, closing is anticipated to occur in Q4 2019
Updated version of SmartMax® Gateway, SmartSite® and SmartSuite® technology to launch in November 2019
Expansion into the plant-based protein sector through Kontrol’s wholly owned operating subsidiary, CEM Specialties (“CEM”). CEM specializes in the installation and integration of specialized process improvement and monitoring equipment and technology.
Energy Management Technology
Kontrol continues to build out its suite of energy management technology solutions. The Company anticipates launching in November 2019 an integrated platform with a focus to accelerate growth in SaaS (Software as a Service) revenues. The integration of SmartMax® Gateway, SmartSite® and SmartSuite® software technology will provide asset managers, building owners and tenants the opportunity to save up to 30% in energy costs across commercial and multi-residential buildings. For Cannabis facilities energy savings can be up to 50% per annum when Kontrol’s energy management technology is integrated with Co-generation solutions.
Director
Mr. Geoff Lafleur has resigned as a Director to the Company. Paul Ghezzi, CEO of the Company stated: "I would like to thank Geoff for his to service to the Company as a director and wish him well.”
The Company is currently interviewing a number of potential Board candidates and will seek to add two independent Board members with specific industry experience aligned with the Company’s strategic growth plan.
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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