Kontrol Technologies Corp (OTCQB:KNRLF, NEO:KNR) announced it is launching SmartPower, a fully integrated geothermal and variable refrigerant flow (VRF) solution for the new construction and energy retrofit industries.
The Toronto-based company called it a “valuable technology addition” to its current portfolio of energy management solutions.
SmartPower provides the opportunity to sell energy as a service for up to 20 years and generate recurring revenues, according to a statement.
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Kontrol said it will try to monetize geothermal power plants as part of a previously announced carbon credit program.
“Launching the SmartPower brand and solution provides a significant opportunity to grow our recurring revenues and monetize carbon credits as we continue to scale with profitability,” said Paul Ghezzi, CEO of Kontrol Technologies, in a statement.
“Heightened demand for net zero emission infrastructure is being driven by the adoption of carbon taxes, in key North American market regions, coupled with stakeholder activism and corporate social responsibility. By advancing new sustainable energy solutions that seamlessly integrate into our existing technology stack, we are well positioned to continue to grow our market share.”
Kontrol told investors that it has started quoting “multiple” new build high rise opportunities, positioning SmartPower as the main source of energy for the building with the electricity grid serving as backup.
Kontrol’s customer base includes real estate investment trusts, asset managers and developers with hundreds of millions of square feet under management and in development.
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