Kontrol Energy Selected To Deliver Four Combined Heat And Power (CHP) Installations By Leading Real Estate Asset Manager
TORONTO, September 11, 2018 / - Kontrol Energy Corp. (CSE: KNR) (FSE: 1K8) ("Kontrol" or the "Company") has been selected to deliver four Combined Heat and Power (CHP) projects (the “projects”) by a leading Real Estate Asset Manager. The projects have a combined value of approximately $1 Million and an electricity generation capacity of approximately 1.1 Million kilowatt hours per annum. The projects will be installed in four separate multi-residential buildings in the Greater Toronto Area.
For industry competitive reasons the Real Estate Asset Management, which operates a substantial portfolio of commercial and residential properties, will remain confidential.
“With electricity rates being significantly higher than natural gas rates, CHP systems provide an opportunity for immediate energy savings with the added efficiencies of capturing and recycling heat waste,” says Kristian Lavereau, COO of Kontrol Energy. “Following the installations Kontrol will provide real-time monitoring and energy analytics to maximize performance and energy savings over time.”
The project installations are conditional upon the receipt of certain installation incentives from the local utility. Two of the four projects have received approval for their applicable incentives and the remaining two projects are anticipated to receive the approval for their applicable incentives in Q4 of 2018.
About Kontrol Energy Corp.
Kontrol Energy Corp. (CSE: KNR, FSE: 1K8) is a leader in energy efficiency through IOT, cloud and blockchain technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.
SOURCE Kontrol Energy Corp.
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Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to the combined value and electricity generation capacity of the CHP units, immediate energy and cost savings, growth strategy, targeted expansion and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". The forward-looking statements in this press release are presented for the purpose of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the acquisition will be successfully integrated into the Company and that its revenues will be consistent with the Company's expectations, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, and others. 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, lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, 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. 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 the Company 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, except as required under applicable securities law.