Kontrol Energy to integrate Artificial Intelligence (AI) into latest Energy Software acquisition
May 30, 2018 (Source) — Kontrol Energy Corp. (“Kontrol”, or the “Company”) (CSE:KNR, FSE:1K8) a leader in the energy efficiency market through IOT, Cloud and Blockchain technology is pleased to announce that its most recent acquisition operating as (“iDimax”) will be adding Artificial Intelligence (AI) across its energy software platform. iDimax operates as a Software as a Service (SaaS) platform and has more than 10 years of successful operating history across 12 million square feet of commercial real estate including some of Canada’s largest institutional real estate owners and managers.
“When we acquired iDimax our immediate short-term goals were to add AI across the portfolio of buildings to rapidly grow their SaaS revenues and integrate their technology across our consolidated customer base,” says Paul Ghezzi, CEO Kontrol Energy. “The AI platform will be rolled out to existing customers and given iDimax is currently collecting over 2 Billion data records per annum, we are excited to enhance what we can offer to both existing and new customers.”
Through its real-time energy monitoring software iDimax provides both deep energy savings through optimization while improving asset performance and useful life. The iDimax technology has been designed to work with all forms of building automation and can be installed in a low-cost and timely manner providing live streaming dashboards to property managers, portfolio managers, asset managers and key decision makers.
Kontrol’s AI solution is designed to track consumption relative to the energy equipment installed on site and analyze both deficiencies and potential optimization points in real-time. The more data which is collected the smarter the AI becomes. The AI upgrade compliments existing competitive advantages of low-cost of installation and rapid deployment with minimal hardware requirements.
“In addition to expanding our customer base across Canada we are in discussions with numerous potential US customers in various stages of negotiations,” continues Paul Ghezzi. “With more than 15 Billion data records collected and analyzed the IDimax technology is both proven and scalable. Growing our SaaS revenues is a key strategic objective for Kontrol.”
In addition to the AI upgrade, Kontrol is actively developing various mobile and desktop applications to enhance the real-time energy analytics, optimization and performance metrics delivered by the iDimax technology. The AI upgrade and mobile applications are planned to be released in Q4, 2018.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR, FSE: 1K8) is a leader in energy efficiency through IOT, Cloud and Blockchain 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.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to the integration of the AI platform technology into iDimax’s existing businesses and technology and across Kontrol’s operating platform, Kontrol’s anticipated growth in scale and revenue, including anticipated proforma 2018 revenue and EBITDA run rate, and statements related to the expansion of emission monitoring and solutions across Canada and the USA, the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and monetization programs, other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. The forward-looking statements in this press release are presented for the purposes of providing information about management’s current expectations and plans and such information may not be appropriate for other purposes. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the AI technology, iDimax’s Software as a Service will be successfully integrated into the Company and that its revenues and growth projections will be consistent and meet with the Company’s expectations, that the revenue and EBITDA run rate of the Company’s subsidiaries will be consistent with and meet the Company’s expectations, that performance milestones will be achieved, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur. 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 the AI technology and Software as a Service platform will not be successfully integrated or will not perform as expected, that the revenue and EBITDA run rate of the Company’s subsidiaries will be less than expected, performance milestones will not be achieved, there being a lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies and emission monitoring solutions 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. 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 the Company 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, except as required under applicable securities law.