Kontrol Energy Corp (CSE: KNR) has begun the initial production runs of its BioCloud units. The commencement of production was made possible for the company following the news that that National Research Council of Canada Industrial Research Assistance Program would be providing the company with up to $500,000 in funding.
Funding from the NRC is to be used for final commercialization and mass production of its BioCloud technology, with the agency also to provide advisory services to the company. The funding has evidently enabled the company to begin the commercialization phase, with the company concurrently announcing that initial production runs have begun on the COVID-19 detection device.
The initial production runs are anticipated to take five to six weeks, with the first deliveries stated to include the sale of units to distributors and Kontrol customers. Demonstration units are to also be delivered to the Middle East, where pilot customers will receive the units.
Sales are said to be announced when material in nature, while other sales will be reported just in quarterly filing statements.
Kontrol Energy last traded at $2.94 on the CSE.
Information for this briefing was found via Sedar and Kontrol Energy Systems. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
