Kontrol Receives Approval for Government Grant to Accelerate the Development of New COVID-19 Testing Technology
- Kontrol BioCloud® --
TORONTO, ON / August 5, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) ("Kontrol" or "Company") is pleased to announce that it has received approval for an initial government grant of $50,000 from the National Research Council of Canada to accelerate its new Covid-19 testing technology, the Kontrol BioCloud® analyzer ("BioCloud analyzer" or "BioCloud").
Can we measure for COVID-19 like we do for air quality?
Drawing from its extensive industry experience in air emissions and air quality monitoring, Kontrol is developing a new technology designed to detect and alert for COVID-19, in real-time, through rapid on-site air sampling and detection of aerosol and droplet encapsulated viruses in indoor and outdoor environments.
Artist Rendering. Copyright Kontrol Energy Corp.
Artist Rendering. Copyright Kontrol Energy Corp.
"Our team has been working to bring BioCloud to market since the onset of COVID-19 and we see a great need for a technology which can provide a level of assurance that spaces where individuals work and congregate can be safe," says Paul Ghezzi, Chief Executive Officer of Kontrol. "If successful, BioCloud will be able to provide pro-active virus detection capabilities with an alert and notification system in public settings and to help maintain confidence as economies re-open."
COVID-19 Testing
The current focus of testing for COVID-19 has been individual swabs. While this remains an important part of the testing regime it would not be possible to test all individuals daily in the cases of large gatherings and transportation.
According to the Center for Disease Control, "the virus that causes COVID-19 is thought to spread mainly from person to person, mainly through respiratory droplets produced when an infected person coughs, sneezes, or talks. These droplets can land in the mouths or noses of people who are nearby or possibly be inhaled into the lungs. COVID-19 seems to be spreading easily and sustainably in the community ("community spread").Community spread means people have been infected with the virus in an area, including some who are not sure how or where they became infected."
Artist Rendering. Copyright Kontrol Energy Corp.
BioCloud has been designed to operate in open spaces where crowds gather or congregate. Through constant air sampling over designated intervals of time and a propriety detection chamber, designed to interact with COVID-19, BioCloud seeks to provide a real-time detection and alert system. BioCloud's anticipated applications include schools, buildings, hospitals, transportation, or any location where crowds are gathered.
"When we initiated the design of BioCloud we leveraged our extensive experience in sampling for low level particulate matter in industrial facilities which includes air quality, emissions and various gases," says Gary Saunders, VP of Kontrol. "We appreciate the government support received to date to accelerate the development of BioCloud."
Development Plan
Kontrol has developed its initial prototype and has commenced lab testing of the detection chamber. The lab will spend the next 4 weeks testing the detection chamber and the applicable interactions with COVID-19. Following the testing period, Kontrol will announce the results and provide further details on its go to market strategy.
Kontrol is not making any express or implied claims that its BioCloud analyzer has the ability to measure or detect COVID-19 at this time.
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 is one of Canada's fastest growing companies in 2018 and 2019 as ranked 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:
Paul Ghezzi, Chief Executive Officer
paul@kontrolenergy.com or 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
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
Where the Company 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 and that technology will be as effective as anticipated.
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, 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. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol's lack of track record in developing products for medical applications.
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.