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Kontrol Technologies Corp. reports developments tied to smart buildings, building services, and energy efficiency solutions. The Canadian public company provides integrated HVAC, building automation, and energy management services for commercial, industrial, multi-residential, and residential properties, with recent activity centered on Ontario and broader Canadian building markets.
Recurring company news includes financial results filed in Canada, project awards with building owners, customer-base expansion, acquisition criteria for HVAC and related service businesses, and capital actions such as its completed normal course issuer bid. Governance updates include annual meeting voting results, auditor appointment, director elections, and share compensation plan matters. Kontrol has also described its operating focus after the completed sale of the operational net assets of CEM Specialties Inc.
Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) is advancing its technology portfolio with the launch of Kontrol BioWater, building on its existing BioCloud technology for early viral detection in wastewater systems. With a budget of $300,000 allocated for R&D, the new system aims for real-time, cloud-based monitoring. This innovation supports public health strategies by providing rapid insights into viral presence, crucial for COVID-19 monitoring. However, the company acknowledges the uncertainty surrounding future government funding for its projects.
Kontrol Technologies Corp. (OTCQB:KNRLF) has secured multi-year service agreements to manage building energy systems for 9 new commercial buildings. CEO Paul Ghezzi emphasized the importance of their technology in reducing rising energy costs through real-time management and monitoring. Kontrol also plans to monetize carbon credits from energy efficiency upgrades through the CSA Clean Projects Registry, with initial projects expected to be completed by May 2022. This expansion reinforces Kontrol's position as a leader in smart building technology.
Kontrol Technologies Corp. (OTCQB: KNRLF) has revised and refiled its business acquisition report concerning the acquisition of Global HVAC & Automation Inc.. This updated report reflects interim financial statements for the period ended July 31, 2021, addressing previous deficiencies. The filing was made at the request of the Ontario Securities Commission in conjunction with a short form base shelf prospectus review. Additionally, Kontrol is exploring a listing on a major US stock exchange but has not submitted a formal application due to market conditions.
Kontrol Technologies Corp. (OTCQB: KNRLF) reported record revenues of $58 million for 2021, a 367% increase compared to the previous year. The fourth quarter saw revenue of $28.7 million, up 567% year-over-year. Net income reached $1 million, a recovery from a loss of $1.9 million in 2020. The firm also reduced secured debt by $3 million and achieved an Adjusted EBITDA of $6.5 million, marking a 227% increase. The company emphasizes sustainability and aims for continued growth with new contracts.
Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has secured a $16 million HVAC and Automation project for a new high-rise building in the location value="LU/ca.on.tornto"Greater Toronto Area. This project is funded by an existing customer and follows a previous $9.7 million contract. Initial site preparations are underway, with project completion expected in Q4 2023. The project includes affordable rental housing units, expanding the company's business opportunities.
Kontrol Technologies Corp. (OTCQB:KNRLF) is expanding into the student housing market with the first installation of its SmartSuite® technology. This solution offers building automation, allowing control of heating, cooling, and ventilation through a unified, cloud-based platform. The student housing market is substantial, with approximately 145,000 beds available in Canada. SmartSuite® aims to deliver energy savings and emissions reductions. The technology includes features like real-time energy management and integration with utility communications, enhancing energy efficiency across various sectors.
Kontrol Technologies Corp. (OTCQB:KNRLF) will report its FY 2021 financial results on March 31, 2022. The event will be hosted by CEO Paul Ghezzi and CFO Claudio Del Vasto at 8:30 AM Eastern. Alongside the results, a complete set of Financial Statements and Management's Discussion & Analysis will be filed on SEDAR. This Canadian company excels in IoT, Cloud, and SaaS technology, focusing on improving energy management and emissions monitoring for smart buildings and cities.
Kontrol Technologies Corp. (OTCQB: KNRLF) has launched Kontrol Carbon, a solution aimed at assisting commercial and industrial clients with GHG emission monitoring, management, and carbon credit monetization. CEO Paul Ghezzi highlighted the growing customer interest in GHG regulations and emissions reduction. The new brand will offer services including GHG verification and carbon offsets. Additionally, Kontrol has been selected by a USA REIT for an energy management solution, utilizing its SmartSuite technology by June 2022. Ian Colquhoun joins as Director of GHG Emissions.
Kontrol Technologies Corp. (OTCQB:KNRLF) announced its participation in the Maxim Group 2022 Virtual Growth Conference from March 28-30, 2022. CEO Paul Ghezzi will present on March 28 at 9:00 a.m. ET. The presentation will be accessible until 5:30 p.m. ET on March 30. Registration is necessary for participation through this link.
Kontrol Technologies Corp. (OTCQB:KNRLF) has successfully shipped its BioCloud technology to a new customer in location value="LC/hk"Hong Kong, focusing on air quality solutions. Additionally, a testing partner has completed its first purchase of BioCloud technology. Kontrol is set to commence a pilot study of BioCloud for classroom use in the location value="LC/us"USA, expected to start in early Q2 2022. Notably, the company clarifies that its product does not claim to eliminate or cure COVID-19.