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ATI AirTest Technologies Inc. (TSXV: AAT, OTC Pink: AATGF) is a leading Green-Tech company specializing in Demand Control Ventilation (DCV) systems. These systems enhance commercial building operating efficiency by providing real-time data on indoor air quality, leading to significant energy savings. The company's innovative wireless sensors with dynamic communication and control technologies have been honed over ten years, with installations in notable clients such as Lowe's, Shoppers Drug Mart, and Ikea.
In 2022, AirTest generated $2.39 million in revenue, marking a 13% increase from the previous year. This growth was coupled with a reduction in operating expenses by 18%, resulting in an operating loss reduction of 93%. CEO Ted Konyi attributes this positive trend to new product lines and cost-cutting measures, which are expected to propel the company to profitability in 2023. The company's focus on energy-efficient HVAC solutions has met with increased demand, positioning it for substantial growth.
Recent achievements include successful site surveys and installations in major commercial and retail locations across North America. In June 2023, the company expanded its sales activities with the addition of new sales agents in Ontario and Idaho, and secured financial support for installations from Save On Energy and Enbridge. By July, the company completed multiple site surveys for a Western Canadian grocery chain, highlighting the potential for significant heating and cooling cost reductions through their DCV systems.
AirTest has also grown its international presence, with sales activities in the UK and partnerships with global industry leaders such as alpscontrols.com and Delta Controls Inc. The company's new TR2000-DIGI CO sensor for parking garages and EnGuard refrigerant leak detectors have been key products in these collaborations.
In August 2023, AirTest reported a 7.6% revenue increase for the second quarter and a significant reduction in net loss, showing the effectiveness of its strategic initiatives. The company continues to build on its partnerships, including a recent agreement with Delta Controls Inc., which should expand their product visibility and sales reach substantially.
Looking forward, AirTest remains committed to its mission of improving indoor air quality and energy efficiency with its cutting-edge DCV systems. The successful installation of their products at prominent locations like LA Live in Los Angeles, and the positive reception from partners, underscore their position as a leader in the green technology market.
ATI AirTest Technologies has announced the provision of sensors to a major Midwest medical software company to control ventilation and reduce energy costs in its underground parking facilities. The installation will include Carbon Monoxide (CO) and Nitrogen Dioxide (NO2) sensors. This marks a continuation of a 12-year relationship with the company, which is now expanding to include two new buildings on their extensive campus that houses over 10,000 employees. AirTest CEO Ted Konyi emphasized the quality and reliability of their sensors as key factors in securing this opportunity.
ATI AirTest Technologies (TSXV: AAT, OTC Pink: AATGF) announced the resignation of President Russell Moore, effective immediately, due to other business commitments. The company expressed gratitude for Moore's contributions and noted that he will continue to serve on the Board of Directors, offering guidance and advice. CEO Ted Konyi will temporarily assume the role of President in addition to his current responsibilities.
ATI AirTest Technologies (TSXV: AAT, OTC Pink: AATGF) has announced the provision of digitally communicating CO sensors for LA Live's parking facilities. LA Live is a major entertainment hub in Los Angeles, featuring Crypto.com Arena, hotels, and one of the largest underground parking structures in the U.S. AirTest's sensors will replace existing CO sensors, enhancing ventilation control. These new sensors are compatible with all building management systems and major communication protocols, marking a significant step in the company's growth. CEO Ted Konyi highlighted the importance of this project, reflecting the quality and versatility of AirTest products.
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