Kontrol Technologies Selected by Petrochemical Customer Under Recurring Multi-Year Agreement to Provide Emission Monitoring Solutions

TORONTO - Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), has been selected by a large integrated petrochemical customer under a recurring multi-year agreement to provide emission monitoring solutions.

“As emission regulations increase at the state and provincial level, we are well positioned to provide emission monitoring solutions with a strong history and track record of servicing the oil, gas, cement and petrochemical industries,” said, Paul Ghezzi, CEO of Kontrol Technologies. “We continue to focus on growing our recurring and multi-year agreements with our blue-chip customer base.”

The Customer operates across Canada and for industry competitive purposes will not be named.

As previously released on March 23rd, 2023 the Company continues to advance its new development dry kiln technology for deployment with a leading global cement company. The Company anticipates advancing its planned deployment in Q2 of 2023. The current design development has focused on reducing power consumption by up to 83%, installation footprint by up to 90%, and capital costs by approximately 50%, when compared to current technology in the market. The technology is also targeting GHG emission reductions through improved operating efficiencies.

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.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

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. Forward-looking information contained in this press releases includes, but is not limited to, the following: future emission monitoring solutions and products to be offered by Kontrol for its potential customers; that the future success of any of Kontrol’s products; and customer demand relating to continuous emissions.

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 the anticipated timing of implementing continuous emission monitoring solutions for Customers will go as planned; and that demand will continue for continuous emission monitoring technology and the success of the High-Temperature Dry Kiln technology 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.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi, CEO
info@kontrolcorp.com
11 Cidermill Avenue, Suite 201
Vaughan, ON L4K 4B6
Tel: (905) 766.0400