Kontrol Provides Use Case Update for HVAC and Buildings
Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS (News - Alert) technology, today provides use case update for HVAC and buildings, as well as growing demand for data and analytics for BioCloud under three Non-Disclosure agreements.
"BioCloud's positive recent in-field performance provided additional technology validation which has resulted in immediate interest from organizations seeking innovative solutions to monitor and improve air quality," said Paul Ghezzi, CEO of Kontrol. "Under non-disclosure agreements we are supplying three additional organizations with BioCloud technology patents, testing, data and analytics. We are executing well on our strategy to grow our presence in regional markets by building relationships with large organizations which have a scalable business model. By employing a data-driven approach, we are continuously adding to our solution value proposition through technology enhancements, while substantiating key use cases for integration with buildings and HVAC systems."
All organizations under non-disclosure agreements ("NDA") currently offer a myriad of viral and pathogen testing solutions and air quality technology and are interested in BioCloud as a potential integrated solution to create safer spaces. One of the organizations operates as a global conglomerate in facility testing, certification and benchmarking, with approximately $7 Billion in annual revenues. While there is no certainty that the execution of an NDA and the sharing of all technical data will result in revenues related to the NDA, the Company is pleased by its recent in-field testing results and will announce progress on potential distribution agreements or strategic partnerships as they are executed.
BioCloud Use Case in Buildings and HVAC
According to the American Society of Heating, Refrigerating and Air-Conditioning Engineers or (ASHRAE):
Transmission of SARS-CoV-2 through the air is significant and should be controlled. Changes to building operations, including the operation of heating, ventilating, and air-conditioning systems, can reduce airborne exposures.
Ventilation and filtration provided by heating, ventilating, and air-conditioning systems can reduce the airborne concentration of SARS-CoV-2 and thus the risk of transmission through the air. Unconditioned spaces can cause thermal stress to people that may be directly life threatening and that may also lower resistance to infection. In general, disabling of heating, ventilating, and air-conditioning systems is not a reommended measure to reduce the transmission of the virus. (ASHRAE, 2020)
Ventilation is the mechanism by which clean air is provided to a space. It is essential for meeting the needs of occupants and for diluting and removing pollutants emitted by indoor sources. High rates of air change can lead to excessive energy burden on a building's heating and/or cooling systems. It is estimated that an HVAC system can account for up to 70%* or more of energy demand. Accordingly, there is often a conflict between a desire to minimise ventilation rate, to reduce energy demand, and to maximise ventilation, to ensure optimum indoor air quality. (*source: www.aivc.org )
In the event of a virus or pathogen detection, more precise commands can be sent to the building automation systems for more ventilation and fresh air exchange over a specific period of time. This additional intelligence is tied to the BioCloud's ability to integrate with buildings automation systems in real time. In this regard, BioCloud can serve as an important technology integration into the majority of HVAC systems as well as a stand-alone solution in an office setting or spaces where individuals gather.
About Kontrol BioCloud™
Kontrol BioCloud ("BioCloud") is an operating subsidiary of Canadian public company Kontrol Technologies. The BioCloud technology is a real-time analyzer designed to detect airborne viruses and pathogens. BioCloud is an air quality technology and not a medical device. BioCloud has been designed to operate as a safe space technology by sampling the air quality continuously. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and a silent notification system is created. BioCloud can be applied to any space where individuals gather including classrooms, offices, retirement homes, hospitals, mass transportation and others.
Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com.
About 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 a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.
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.
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 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. Kontrol 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, cure or contain the COVID-19 (or SARS-2 Coronavirus).
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.
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