Kontrol Technologies Corp (OTCQB:KNRLF, NEO:KNR) said it has been selected to deliver advanced building performance monitoring and control for a leading Canadian real estate investment trust (REIT), which is currently an existing customer.
The Toronto-based company said that the additional technology is intended to provide greater real-time control, analytics, and performance monitoring in 11 new buildings totaling around 2.75 million square feet of commercial real estate.
"Additional technology deployment within our current customers' buildings is part of our ongoing growth strategy as well as the continued focus on winning new customers," Kontrol CEO Paul Ghezzi said in a statement. "As energy costs continue to rise, our technology platform offers real-time energy management, monitoring and controls which can help run a more efficient building."
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The Canadian REIT has more than $10 billion in assets under management across North America and hundreds of commercial buildings. For competitive reasons, Kontrol did not name the REIT.
Separately, Kontrol announced that Joseph Gallo, who worked as the company's chief revenue officer is no longer with Kontrol.
"We thank Mr Gallo for his contributions and wish him well as he pursues new endeavors," said Ghezzi. The position will not be filled at this time, added the company.
Kontrol is a leader in smart buildings and cities through Internet of Things (IoT), cloud and SaaS technology. It delivers solutions to help its customers improve energy management, reduce greenhouse gas emissions, and create sustainable buildings.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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