- Kontrol Energy gains fast-growing startup recognition with revenue jump from $1.8 million to $16 million during past two years
- Kontrol shores up Dimax acquisition with purchase of IP and patents, technology rebrand to Kontrol SmartSite
- Acquisition strategy update notes focus on energy retrofit industry and emissions compliance
The world is rapidly becoming preoccupied with planetary climate changes as temperatures swing wildly, the Earth’s poles alter their icy constitutions, extreme weather events grow in intensity and sea coast areas experience flooded real estate (http://ibn.fm/ZLwdc). Kontrol Energy (CSE: KNR) (OTC: OTSHF) (FSE: 1K8) is attempting to lead out smart management efforts for utilities usage through a strong merger and acquisition philosophy as consumers become ever-more conscious of their impact on the situation.
Kontrol Energy’s software makes it possible for building managers to utilize automated building technology that’s already in place at their facilities or to add elements as needed to monitor and adjust HVAC system operations with real-time data. The company’s business model appears to be succeeding; in its most recent quarterly earnings report, Kontrol showed revenue growth of 35 percent over the previous year (http://ibn.fm/NyEec).
“In less than 2 years we have grown our revenue run rate from $1.8 Million to $16 Million,” CEO Paul Ghezzi stated in the company’s quarterly announcement. “Kontrol is delivering on our stated goals and objectives and we seek to continue our strong growth through further accretive acquisitions and the expansion of our smart energy technologies.”
On January 16, the company announced its most recent addition – the purchase of Dimax Controls Canada Inc.’s intellectual property and patents. Kontrol Energy acquired MCW Dimax Ltd.’s operating assets on April 30 of last year and began integrating the MCW Dimax team and operating assets into Kontrol Energy Group.
With the purchase of the Dimax IP and patents, Kontrol announced that it will also rebrand the energy software technology as Kontrol SmartSite.
“The Kontrol SmartSite technology now joins Kontrol SmartSuite in our growing portfolio of IOT enabled energy and property technologies,” Ghezzi continued (http://ibn.fm/C6l8G). “Which will enable further technology development.”
The company also recently added two energy service contracts with licensed producers in Canada’s cannabis sector and is wrapping up the acquisition of Ontario-based emission integrator CEM Specialties Inc.
Kontrol provided an update on its acquisition strategy on January 24 (http://ibn.fm/1wTb2), stating, “The immediate area of strategic focus for the Company is to grow its current operations in energy retrofits and emission compliance with an aim to expand across Canada through a number of accretive acquisitions.”
Energy retrofitting involves upgrades to existing commercial building systems. In the areas of emission compliance equipment, measuring and reporting, the company’s growth plan for 2019 envisions a national footprint through an acquisition in both western and eastern Canada, as well as a growing presence in the United States. Canadian Business and Maclean’s recently described Kontrol Energy as the seventh-fastest-growing startup in Canada (http://ibn.fm/Mwrhe).
Efficiency standards can prove important even during an extreme weather event, when utilities are in critical demand. During the recent “polar vortex” incident that plunged the Midwestern United States into a sub-zero deep freeze, many consumers were asked to keep their thermostats down below preferred temperatures or face the possibility of outages as a result of insufficient fuel supplies (http://ibn.fm/0hAZW). Michigan’s governor issued a call to action to the state’s residents in an attempt to help spread the word about the importance of conserving energy amid the crisis.
For more information, visit the company’s website at www.KontrolEnergy.com