Yesterday Kontrol Energy Corp (CSE:KNR) announced they received positive lab results for their live COVID-19 air testing unit, BioCloud.
Investors first heard about the product on August 5th when the company announced they received a $50,000 grant from the Canadian government to accelerate the development of their detection system which would attempt to determine if COVID-19 is in the air. The new technology would be designed to detect and alert for COVID-19 in real-time through ‘rapid on-site air sampling and detection of aerosol and droplet encapsulated viruses in indoor and outdoor environments.’
The new product, BioCloud, is designed to operate in open spaces where crowds gather or congregate. The product is anticiated to be sold to schools, buildings, hospitals, transportation, or any location where crowds are gathered.
What is a Positive Lab Result?
The company gave very little color as to what a positive lab result means. Thus, it is difficult at this stage to determine how effective this product will be for identifying the risk of COVID-19 in a given room. The company did state that they are planning for up to 20,000 BioCloud units per month in manufacturing capacity. The anticipated selling price for each BioCloud unit is in the $12,000 range.
They will be initiating an application to the CSA Group, a global leader in standards, testing, inspection and certification. The company anticipates that a CSA approval can take from 30 to 45 days.
At the time of publishing Kontrol Energy Stock is up 40% to $4.20.
Information for this briefing was found via Sedar, Y-Charts, 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.
