Kontrol Technologies Expands BioCloud Manufacturing Capacity

Kontrol Technologies (CSE: KNR) has reportedly increased its manufacturing capacity for its BioCloud device as it relates to the Ontario Together Fund. The capacity has reportedly been met to receive the final portion of the previously announced $2.0 million in funding from the Ontario Government.

To date, Kontrol Tech has received $1.2 million as per the firms news release this morning, with the remaining $800,000 to be provided once certain conditions have been met by Kontrol. Among those conditions is the ability to increase the manufacturing capacity of the BioCloud device to 20,000 units per month.

Kontrol has reportedly hit this target, with the company to submit a package to the fund that confirms it has met the required conditions, including this capacity requirement. The firm explicitly states however that this is not a sales forecast.

Furthermore, the company has also reportedly reduced sizing of internal systems, electronic boards, and streamlined installation. Lead times however for the parts required to manufacture the devices “have been a challenge,” with the company being vague on the matter and simply saying that these lead times are stabilizing on the majority of components. Further details on potential delays or lead times were not provided.

Kontrol Technologies last traded at $#.13 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.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Kontrol Technologies Cancels 2022 Guidance, Sees Revenue Fall 31% Sequentially

2022 appears to be the year that wasn’t for Kontrol Technologies (NEO: KNR). The firm...

Tuesday, November 15, 2022, 09:17:20 AM

Kontrol Technologies Guides To $33 – 35 Million In Revenues For 2021

Kontrol Technologies (CSE: KNR) this morning released a corporate update of sorts for investors. Included...

Wednesday, April 7, 2021, 08:14:17 AM

Kontrol Tech Sees Completion Of BioCloud Pilot Program

Kontrol Technologies (NEO: KNR) this morning issued a brief update related to its BioCloud technology,...

Monday, May 17, 2021, 08:11:20 AM

Kontrol Tech Investigating Potential BioCloud Patent Infringement

Kontrol Technologies (NEO: KNR) is reportedly investigating a potential patent infringement on its BioCloud technology....

Wednesday, July 12, 2023, 09:20:50 AM

Kontrol Tech To Acquire Building Solutions Firm For $6.75 Million

Kontrol Technologies (NEO: KNR) is set to resume trading this morning following a halt on...

Friday, July 2, 2021, 08:42:46 AM