- Kontrol (KNR) has signed a binding C$10M letter of intent (LOI) for an HVAC and automation project
- Subsidiary Global HVAC and Automation will service a new high-rise building in the Greater Toronto Area for a leading Canadian multi-family developer
- The parties expect to complete a final contract for this repeat order in Q3 2022
- Kontrol Technologies is a leader in smart buildings and cities through IoT, cloud and SaaS technology
- Kontrol (KNR) is up by 5.83 per cent trading at $1.27 per share
Kontrol (KNR) has signed a binding C$10M LOI for an HVAC and automation project.
Its subsidiary, Global HVAC and Automation, will service a new high-rise building in the Greater Toronto Area.
The client is a leading Canadian developer in the multi-family high-rise sector who’s name is being withheld to reduce industry competition.
The LOI represents a repeat order from an existing customer. The parties expect to complete a final contract in Q3 2022.
The project began in Q3 2022 and will be completed within the next year.
“As we work diligently to consolidate our technology platform, we can offer our customers a unified platform which includes building automation, ongoing software and services as well as large project integration. This unified approach is a key strategic initiative to drive ongoing and repeat business,” said Paul Ghezzi, Kontrol’s CEO.
Kontrol Technologies provides solutions and services to improve energy management, monitor continuous emissions and accelerate the sustainability of any building.
Kontrol (KNR) is up by 5.83 per cent trading at $1.27 per share as of 1:06 pm EST.