Negotiating BioCloud Agreement with World Leader in HVAC and Air Quality
TORONTO, September 21, 2021 /CNW / – Control Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) (“Check” or the “Business“), a leader in smart building technologies, has entered into a Memorandum of Understanding (MOU) with an international heating, cooling and ventilation (HVAC) company for its BioCloud technology, to negotiate distribution and the potential for outdoor production. Canada. The HVAC business is part of a large global industrial conglomerate with approximately $30 billion of annual revenue that designs, manufactures and distributes its own products through more than 30,000 distributors worldwide.
“In addition to the success and growth of our core businesses, we have focused sharply on all aspects of scaling our BioCloud technology,” said Paul Ghezzi, CEO of Control. “Initiating production solutions for regions outside North America has been an important consideration and this is an ideal opportunity to make progress on this part of our strategic plan. BioCloud contributes to overall consolidated revenue, contributes to our growing patent portfolio and represents successful internal innovation to ultimately drive sustainable value for our stakeholders.”
The name of the HVAC company will not be disclosed for industry competitive purposes.
The company has made a strategic decision to focus on global partnerships with international distribution capabilities, including post-installation services, while continuing to manage its existing internal regional distribution network. Expanding a network of distribution partners with global scale and leveraging technical capabilities to provide after sales service and support provides a more optimal solution for Kontrol.
Early Viral Monitoring as a Service
As part of the distribution negotiations, the parties plan to explore the creation of a service offering where customers can purchase BioCloud units on a stand-alone basis or for a monthly fee, including ongoing technical service and support. The HVAC company has an existing infrastructure platform into which BioCloud can be integrated.
About Kontrol BioCloudTM
Kontrol BioCloud is an operating subsidiary of Kontrol Technologies. The BioCloud technology is a real-time analyzer designed to detect viruses and pathogens in the air. BioCloud is an air quality technology and not a medical device. BioCloud is designed to operate as a safe space technology by continuously sampling air quality. With a patented detection chamber that can be replaced if necessary, viruses are detected and a silent notification system is created. BioCloud can be applied to any space where individuals gather. Additional information about Kontrol BioCloud can be found on its website at: www.kontrolbiocloud.com
About Kontrol Technologies Corp.
Control Technologies Corp. (NEO: KNRO) (OTCQB: KNRLF) (FSE: 1K8) 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 assumes any responsibility for the suitability or accuracy of this press release.
This press release contains “forward-looking information” within the meaning of applicable securities laws. Any statements contained herein that are not clearly historical in nature may contain forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “probably”, “would”, “would”, “plan”, “anticipate”, “intent”, ” potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or representations that certain events or conditions “may” or “will” happen, or by discussions about 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 reasonable grounds. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that the technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking
explanations. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained or cannot be obtained on reasonable terms; that those technologies will not prove as effective as expected; those customers and potential customers will not accept the Company’s product and service offerings as expected; and governmental and regulatory factors affecting the energy conservation industry. control BioCloud is an air quality technology and not a medical device. The company makes no 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 of the date of this publication and are based on management’s beliefs, estimates, expectations and opinions as of that date. Kontrol assumes no obligation to publicly update or revise such forward-looking statements or forward-looking statements in other documents, whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent events. and such forward-looking information, except as required under applicable securities laws. Readers are cautioned to carefully consider these and other factors, uncertainties and possible events and not to place undue reliance on forward-looking information.
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SOURCE Kontrol Technologies Corp.
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