Kontrol Energy Receives $250,000 order from Leading Canadian Real Estate Asset Management Company
TORONTO, June 11th, 2019 - Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) (“Kontrol” or the "Company") is pleased to announce that the Company has been selected to provide a turn-key installation of a Combined Heat and Power (CHP) system with a value of approximately $250,000. The customer is a leading Real Estate Asset Manager in Canada and it is anticipated that the CHP installation will save approximately 260,000 kilowatt hours per year in electricity consumption.
Due to industry competitive purposes, the Real Estate Asset Management company, which operates a portfolio of approximately $500 Million in commercial and residential properties, will remain confidential.
“This project is another example of how Kontrol is able to drive down the costs of energy for our customers,” said Paul Ghezzi, CEO of Kontrol Energy. Mr. Ghezzi further stated, “We are currently reviewing a number of facilities in the Cannabis industry which could benefit from a similar solution. With electricity rates being significantly higher than natural gas rates, CHP systems provide an opportunity for immediate energy savings with the added efficiency benefit of capturing and recycling heat waste.”
The CHP installation is conditional upon the receipt of final building permits and applicable approvals, and installation is anticipated to commence in July 2019.
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.
Kontrol Energy was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean’s.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com
For further information, contact us at admin@kontrolenergy.com Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
For further information, contact:
Paul Ghezzi, Chief Executive Officer
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Certain information included in this press release, including information relating to the large CHP installation order received by a leading Real Estate Asset Manager in Canada, the Company reviewing similar solutions in the Cannabis industry, recurring revenues under multi-year service agreements, the Company’s vertically integrated energy solutions that will deliver energy savings in real time to improve operating efficiencies, reduce net operating income and increase property valuations and, the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, other statements that express the expectations of management or estimates of future performance, "forward-looking statements". The forward-looking statements in this press release are presented for the purposes of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. 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, the Company and that its revenues and growth projections will be consistent and meet with the Company’s expectations, that the revenue and EBITDA run rate the Company’s subsidiaries will be consistent with and meet the Company’s expectations, that performance milestones will be achieved, 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,. 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, that the revenue and EBITDA run rate of the company’s subsidiaries will be less than expected, performance milestones will not be achieved, there being a 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 the software as a service 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. 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.