Kontrol Technologies Corp (OTCQB:KNRLF, NEO:KNR) said it is shipping its BioCloud units to a global technology company for various applications following the completion of a non-disclosure agreement (NDA) and technology review during the third quarter of this year.
The company noted the customer has annual revenues of about $7 billion and operates in the field of technology testing and validation.
“This is another opportunity which demonstrates our ability to attract global organizations to the BioCloud technology platform,” Kontrol Technologies CEO Paul Ghezzi said in a statement.
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“In a short period of time, we have attracted multiple organizations that operate with a global footprint and represent scaling potential for the BioCloud technology across a variety of applications,” Ghezzi added.
Kontrol Technologies added that it will work closely with its new customer to determine which applications are best suited for deployment and will provide further updates in the near future.
For industry competitive purposes the customer’s name will not be disclosed.
As well, Kontrol reported recently that it has entered into a NDA with a US-based COVID testing and technology company, which is publicly traded on the NASDAQ market, to assess the value of the BioCloud technology in support of on-site rapid testing locations in various municipal applications.
BioCloud technology is a real-time analyzer designed to detect airborne viruses and pathogens. It has been designed to operate as a safe space technology by sampling the air quality continuously.
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.
Contact Sean at sean@proactiveinvestors.com