A MAJOR POSITIVE DEVELOPMENT FOR THE COMPANY
""Kontrol" or "Company"), is pleased to announce that the Ontario government is providing $2 million to CEM Specialties Inc. ("CEMSI"), a London based subsidiary of Kontrol Technologies Corp., through the Ontario Together Fund to help commercialize and accelerate production of Kontrol BioCloudTM, a COVID-19 detector.
"From day one, Ontario unleashed its innovation and manufacturing might in the fight against COVID-19, with businesses rolling out new innovations and products to help keep the frontlines and the general public safe," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. "It's the creativity and ingenuity of enterprising companies like CEMSI, with its innovative COVID-19 detection technology, that will help Ontario and the rest of the world successfully emerge from this pandemic, while creating hundreds of good jobs for our province's skilled workers."
Kontrol BioCloud ("BioCloudTM"), developed by CEMSI, is a made-in-Ontario real-time COVID-19 detection device that continuously monitors the presence of the SARS-COV-2 virus in the air. The technology promotes air circulation, monitors air quality and samples continuously for pathogens like viruses, bacteria and fungi. When the presence of the virus is detected, BioCloud provides an alert in the cloud or over a local intranet. The Company has received all approvals required to commercialize and produce the technology. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com
With Ontario's support, CEMSI plans to increase production capacity to 20,000 units per month. The product will be manufactured in London with more than 85 per cent of its components produced in province. The company anticipates accelerating the production of the BioCloud will create up to 250 direct jobs and up to 750 indirect jobs
"We want to thank the Ontario government for their support for commercializing and accelerating production of BioCloud," says Paul Ghezzi, CEO of Kontrol Technologies Corp. "Our CEMSI team has been focused on developing a solution to create safer spaces through the real-time monitoring of SARS-CoV-2. BioCloud seeks to provide an early detection mechanism with a silent alerting system. Just as smoke detectors and carbon monoxide detectors are now part of building safety, we have created BioCloud as an innovative viral detection technology to help get the economy and daily life back closer to normal. BioCloud is a complement and support to the province's vaccination rollout, rapid testing and contract tracing and can be located in schools, offices, places of worship, long-term care homes, hospitals and much more. We are proud to be a made-in Ontario technology and we are very pleased to be hiring and creating new jobs."
The investment funding agreement with government requires Kontrol to achieve certain production milestones and the investment funding will be issued in two tranches of $1.2 Million immediately and $800,000 on completion of the milestones by March 30th 2021. The agreement was executed on January 27th 2021 with a condition precedent of non-disclosure until February 4th, 2021.
Through the Ontario Together Fund, the government is delivering targeted investments that will increase the province's stockpile of made-in-Ontario products and PPE. This new innovative technology and manufacturing capacity will help the province to combat the current COVID-19 outbreak and prepare for potential challenges in the future, while supporting local businesses during the safe and gradual reopening of the province.
About Kontrol BioCloudTM
BioCloud is a real-time analyzer designed to detect airborne viruses. It operates 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.
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 or cure the COVID-19 (or SARS-2 Coronavirus). Safe Space Technology is a Kontrol Tradem"
