Kontrol Energy to Expand Odour and Emission Solutions for the Cannabis Industry
TORONTO, ON, | April 1, 2019 /- Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) ("Kontrol" or "Company") announces that it will be expanding its solutions to deal with the increasing regulations from local and provincial governments for the Cannabis Industry.
"We are closely monitoring and advising various existing customers on new regulations which are meant to deal with emissions that could be harmful to the environment and volatile organic compounds (VOCs) that may contribute to strong odours", stated Paul Ghezzi, CEO of Kontrol Energy. "Elevated levels of VOCs can be produced during cannabis plant flowering and harvesting. Licensed Producers (LPs) must deal with this issue as local residential concerns rise, and government regulations are announced."
Kontrol Energy and its operating subsidiary ORTECH Consulting have more than 40 years of history in dealing with emissions and odours in multiple industry sectors across Canada. As the Cannabis industry is maturing following legalization in Canada, there is a growing demand for emission and odour compliance and new regulations for which many LPs may not be prepared for.
Mr. Ghezzi continued, "We offer turn-key odour and emission services designed to scientifically identify, measure and mitigate VOCs and help our customers be at the leading edge of compliance. We can assess applicable odour control technologies such as carbon filtration, ionization, etc. and then provide the turn-key technology solution and other critical systems required that are best suited for the specific facility. Further, solutions to continuously monitor the effectiveness of odour control equipment or the ambient air outside of the facility can be the early warning system required to reduce the frequency of odour complaints. We are well positioned to add new customers in the Cannabis industry and grow our footprint in this significant new market."
According to ArcView Market Research, over the next 10 years spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion within a decade.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS 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.
Kontrol Energy was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean's.
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Certain information included in this press release, including information relating to expansion of the Company's acquisition targets into the US market; the intent to accelerate the Company's US sales and market presence as part of its strategic plan; the integration of the target(s) into Kontrol's existing businesses and technology across Kontrol's operating platform; strategic synergies to distribute smart building technologies and the opportunity to vertically integrate across a broader operating platform, Kontrol's anticipated growth in scale and revenue, including anticipated proforma 2019 revenue and EBITDA run rate, or revenue share price; the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, 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 purposes 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 target(s) will be successfully integrated into the Company and that its revenues and growth projections will be consistent and meet with the Company's expectations, that the revenue and EBITDA run rate of the target(s) and the Company's subsidiaries will be consistent with and meet the Company's expectations, that performance milestones will be achieved, 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, that the Company will succeed in completing its proposed financing, that all conditions precedent to the acquisition of the target(s) will be met within the required timeframes, 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, that the target(s) will not be successfully integrated or will not perform as expected, that the revenue and EBITDA run rate of the target and the company's subsidiaries will be less than expected, performance milestones will not be achieved, there being a 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 and emission monitoring solutions will not prove as effective as expected that customers and potential customers will not be as accepting of the Company's (including the target's) product and service offering as expected. 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.