Kontrol Technologies Corp (NEO:KNR.AQN, OTCQB:KNRLF) revealed that it has surpassed 400 customer buildings as it continues to scale its technology and solutions, and said it is set to double its market share in 2022.
The Toronto-based smart buildings and cities company said that factors such as the accelerating energy costs, GHG emission penalties, stakeholder activism demanding more robust sustainability initiatives and the need for healthy buildings are driving record growth in the company’s operating platform.
“The commercial, multi-residential, and industrial building sectors are facing severe challenges with rising energy costs and the shift by governments to penalize excessive GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies in a statement.
He added: “In addition, shareholder activism is demanding that large real estate asset managers, owners, and operators take immediate action to reduce emissions across their building portfolios. All of these factors are creating tailwinds in our business across our energy, emissions, and air quality technology and service offerings.”
READ: Kontrol Technologies talks 3Q preliminary revenue guidance, carbon credit program, and ESG emphasis
Kontrol Technologies previously announced preliminary record revenues for 3Q, 2021 of at least $18 million. The company's final results for 3Q will be presented on November 15, 2021.
Besides the recent acquisition of Global HVAC and Automation, Kontrol previously announced a record order book of $160 million.
Based on its current order book and the new opportunities across its operating platform, the company anticipates that it will double its customer building footprint in 2022 to 800 buildings.
“The recent rise in energy and utility costs, coupled with concerns over GHG emissions and the importance of embedded intelligence to drive healthy and sustainable buildings is accelerating the building modernization cycle. We are currently quoting at record levels across our operating platform,” noted Ghezzi. “Kontrol continues to increase its brand and technology solutions platform for a growing blue-chip customer base.”
Kontrol Technologies is a leader in smart buildings and cities through the Internet of things (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.
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