New Customer in the Cannabis Industry
“Across the industrial and commercial building markets there is an urgent need for energy savings and greater energy efficiency both in terms of immediate cost control and also mitigating the rising cost of energy,” says Paul Ghezzi, CEO of Kontrol Technologies. “This is a new customer in the Cannabis sector, and we are pleased to have been selected to deliver an energy savings and operational improvement solution.”
The project will involve an upgrade to the Customers current HVAC (Heating, Ventilation and Cooling) system designed to deliver energy savings, lower energy consumption and real-time monitoring for ongoing optimization. For industry competitive purposes the Customer will not be named.
Energy Efficiency as the First Fuel
“With the increase in electricity and natural gas rates, our customers require energy efficiency solutions which produce cost savings, lower energy bills and optimize building performance,” continues Ghezzi.
According to the IEA (International Energy Agency), energy efficiency is called the “first fuel” in clean energy transitions, as it provides some of the quickest and most cost-effective CO2 mitigation options while lowering energy bills and strengthening energy security. www.iea.org.
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 solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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. Forward-looking information contained in this press releases includes, but is not limited to, the following: future retrofit solutions to be offered by Kontrol for its potential customers; the anticipated timing of the initial design, feasibility, implementation, and potential energy savings; installation of and energy savings that the Company’s technology will provide for the Customer; the future success of any of Kontrol’s products; and customer demand relating to energy management.
Where Kontrol 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; that future Carbon solutions can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated timing of implementing the energy saving design for the Customer will go as planned; and that demand will continue for energy management products and for the Company’s products in particular.
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.
Kontrol Technologies Corp.
601 Rowntree Dairy Road, Unit B
Vaughan, ON L4L 5T8
Tel: (905) 766.0400