– Kontrol BioCloud Technology –
TORONTO, ON / ACCESSWIRE / August 27, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or “Company“) is pleased to announce that the Kontrol BioCloud (or “BioCloud“) fully functioning prototype was able to operate in real-time and has received positive lab test results.
“Following lab testing, we have demonstrated that our fully operating prototype, previously announced on August 10, 2020, can detect COVID-19 specific components in air samples under a controlled experiment,” says Paul Ghezzi, Chief Executive Officer of Kontrol. “This was a critical milestone that we achieved as it ensures the safety and operating capability of BioCloud and we can now move quickly to testing against the live aerosolized COVID-19 virus. We remain on track with achieving our specific milestones and anticipate live COVID-19 virus testing during the week of August 31.”
The controlled testing was conducted by the lab of independent consultant, Dr. David Heinrichs, PhD (Heinrichs Laboratory) – experts in the study of Microbiology and Immunology.
Next Major Milestones
The company has now tested both its proprietary detection chamber as announced on August 19, 2020 and its fully operating prototype. Following testing with the live COVID-19 virus, the Company anticipates that it will be in a position to move to commercialization and production of operating units shortly thereafter.
We continue to fund all BioCloud technology development through internal cash generation and Kontrol will not raise capital to complete testing and pre-commercialization work.
When testing against the live COVID-19 virus the Company seeks to establish the lower detection limits of BioCloud and set final parameters for applications based on room size and number of individuals. These lower detection limits will be part of commercialization specifications.
“We are excited to have a working prototype and a successful result given all the hard work that has gone into the BioCloud,” says Gary Saunders VP of Kontrol. “We have sourced all the components required for commercialization and have our supply chain ready to go. The Canadian Government has recently announced $2 billion in federal funding to help schools reopen safely. BioCloud has the potential to be an important tool in creating safe spaces by seeking to detect for the virus and assessing the effectiveness of HVAC system improvements by continuously sampling air in real-time.”
The Company anticipates a selling price in the range of $12,000 US per BioCloud unit based on the current supply chain components. The detection chamber is replaceable and represents a potential secondary source of commercialized revenue for Kontrol. Any time the detection chamber comes into contact with the COVID virus it must be disposed of safely and replaced.
New Applications beyond COVID-19
During testing the Company has determined that BioCloud has the capability to detect other airborne viruses in addition to COVID-19. This determination was made based on working with the independent lab consultants and a review of the detection mechanism and specifications. While COVID-19 is the most pressing concern for creating safe spaces, other airborne viruses may have similar characteristics that BioCloud may be able to detect.
About Kontrol BioCloud
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, retirement homes, hospitals, mass transportation and others. It can be an important technology which supports the entire system of individual testing and contact tracing.
The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus) at this time.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Kontrol Energy is one of Canada’s fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean’s.
For further information, contact:
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol’s lack of track record in developing products for medical applications.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
SOURCE: Kontrol Energy Corp.
View source version on accesswire.com: