Kontrol Technologies Receives $9.7 Million HVAC Contract Under New Subsidiary

Kontrol Technologies (NEO: KNR) this morning indicated it has secured a major contract through its recently acquired subsidiary. The contract pertains to HVAC and building automation, with the contract to be fulfilled in the greater Toronto area.

The contract in question is pegged at a value of $9.7 million, with the company to install the HVAC and automation equipment in a new high rise building being constructed. The contract comes via the firms Global HVAC and Automation subsidiary, which was acquired last August.

While the project has officially been awarded to Global, the purchase order is currently classified as a binding letter of intent while a final contract is currently in the draft stages. The project itself is expected to begin in the third quarter of 2022, and is slated for completion by the end of 2023.

The contract is reportedly part of the $35.0 million in “potential revenue opportunities” as announced by the firm at the end of December. This is believed to be the only opportunity to date awarded out of that initial figure.

Kontrol Technologies last traded at $1.65 on the Neo.


Information for this briefing was found via Sedar and the companies mentioned. 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 Delays US Listing, No Revised Timeline Provided

It appears that Kontrol Technologies (NEO: KNR) is backing away from one of its key...

Friday, April 15, 2022, 08:59:49 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 Technologies Adds Danby Appliances To BioCloud Manufacturing Team

Kontrol Technologies (CSE: KNR) this morning announced that it has expanded its manufacturing team for...

Monday, April 19, 2021, 08:13:39 AM

Kontrol Tech Generates $3.3 Million In Revenues, $0.8 Million Net Loss In Q1

Kontrol Technologies Corp. (NEO: KNR) released its financial results for the first quarter of 2021...

Tuesday, June 1, 2021, 08:07:45 AM

Kontrol Tech To Move Listing To The Neo

Kontrol Technologies (CSE: KNR) last night announced that it has received approval to uplist to...

Wednesday, May 5, 2021, 07:06:56 AM