TORONTO - Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE: 1K8) ('Kontrol' or 'Company') is pleased to announce its first SmartFactory order form Toyota Tsusho Canada, Inc. ('TTCI').
The order is for an Ontario automotive manufacturing plant (the 'Plant').
Following a detailed review of the Plant and its operations, Kontrol and TTCI formulated an approximate $850,000 retrofit and upgrade program. Plant management has selected to begin with an initial SmartFactory upgrade of approximately $180,000 as part of its capital budget for 2019. The balance of the upgrade program will be considered for the 2020 to 2023 capital budget period.
'We are pleased to receive our first SmartFactory order and excited about the potential opportunity in both Canada and the United States,' says Paul Ghezzi, CEO of Kontrol. 'As we anticipated, operating Plants in the automotive sector typically have defined annual capital expenditure budgets and our SmartFactory solutions will fit into those budgets accordingly. Initial orders are anticipated to have follow up orders and repeat business.'
For the first order, the Plant will receive an upgrade to its HVAC systems, a real-time water management system for its paint process, real-time vibration sensors on various equipment and real-time management of all upgrades through the Kontrol Energy SmartMax Gateway and SmartSite software.
'We are impressed with Kontrol Energy's demonstrated ability to use its software technology and solutions to provide data collection and analytics so that each improvement within a Plant can be monitored and adjusted in real-time. We look forward to expanding our strategic alliance with Kontrol Energy across Canada, and also into the United States market to help our customers improve operating efficiencies and increase cost savings,' says Yuji Shibano, General Manager of TTCI's Energy Solutions Group.
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.
About Toyota Tsusho Canada, Inc.
TTCI is a wholly owned subsidiary of Toyota Tsusho America, Inc. and operates with approximately $1 Billion in annual revenues. The ultimate parent company of TTCI is Toyota Tsusho Corporation, the trading affiliate of the Toyota Group of Companies. Toyota Tsusho Corporation ('TTC') was founded in 1948 as the trading company for the Toyota Group. Today, TTC is a highly diversified company with seven operating divisions and more than 1,000 subsidiaries and affiliated companies. The TTC group of companies engage in various business enterprises in more than 120 countries and employ approximately 58,000 members worldwide, all striving to contribute to the creation of prosperous societies.
Kontrol Energy is one of Canada's fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean's.
Caution Regarding Forward Looking Statements
Certain information included in this press release, including partnering with a global industrial leader such as Toyota Tsusho can provide the Company an opportunity to scale its technology solutions across a large potential US and global customer base, providing technology solutions to drive down costs and gain a competitive advantages, completed and future acquisitions that will generate considerable revenues for the Company, anticipated annualized revenues, the acceleration of revenue synergies across operating subsidiaries, IoT and Cloud expansion, SaaS technology, completed and future acquisitions that will generate considerable revenues for the Company, information relating to future closings of the Offering, payments of interest, commissions or finders fees, minimization of common equity dilution, possible future acquisitions and/or investments in operating businesses and/or technologies, accelerated growth, the provision of solutions to customers and Green House Gas emissions reductions, proposed financial savings and sustainable energy benefits and energy monitoring, growth strategy and financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute 'forward-looking statements'. 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 Offering will be successful, 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 further subscriptions for the Offering, 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.