Kontrol Technologies Corp (OTCQB:KNRLF, NEO:KNR) revealed new data highlighting the energy cost reductions for its big real estate investment trust (REIT) customers.
The Canadian technology company said that it has delivered energy savings in the range of 20% to 30% per annum for three recent REIT customers, which manage national building portfolios in Canada and the US.
SmartSuite technology is designed to provide building automation and in-suite control over heating, cooling, and ventilation through a unified Cloud solution.
READ: Kontrol Technologies inks LOI to acquire Alberta-based building service and solutions company
Kontrol’s SmartSuite energy management technology is deployed in seven initial buildings across these three REIT customer portfolios.
In a statement, Kontrol said it typically deploys the systems to a number of buildings initially to build a relationship based on proven performance with its new customers. Following that, it looks to turn these initial deployments into a scalable solution.
Kontrol’s REIT clients operate multi-family or multi-residential buildings in North America.
"We are excited to deliver such robust energy savings performance for our new customers," said Paul Ghezzi, CEO of Kontrol Technologies in a statement.
“Each of these REIT customers represents a scalable customer and we look forward to continuing the expansion [of] our energy management technology."
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas