Kontrol Technologies Operating Subsidiary CEM Specialties Receives Additional Orders from New USA Customer
Enters into Exclusive Negotiations for North American Joint Venture with European Manufacturer of Continuous Emission Monitoring Technology
Kontrol Technologies Corp. operating subsidiary CEM Specialties (CEMSI) continues to expand with its new USA Customer (the “Customer”) to design and integrate specialized emission technology in order to monitor ethylene oxide in real-time. Following the press release dated February 6th, 2023, CEMSI has received additional orders for this new growth market in support of its new Customer.
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Ethylene Oxide Emissions
The ability to monitor and quantify Ethylene oxide (EtO or EO) is central to eliminating sources and reducing long-term exposure to this hazardous air pollutant. Ambient air monitoring System for Ethylene oxide continuously and automatically monitors and quantifies low, ambient levels of EtO. It is ideal for use in community monitoring stations and at industrial fence-lines.
Exclusive Negotiations with European Manufacturer of Emission Technology for North American Joint Venture
Kontrol has entered into exclusive negotiations with a European manufacturer (“Manufacturer”) of emission technology to establish a joint venture for the North American market (USA, Canada and Mexico). The purpose of the joint venture is to establish a North American, jointly owned company, which will distribute continuous emission technology across North America, and leverage the Manufacturer’s success in Europe and non-North American markets. The Manufacturer operates globally with more than 30 years of history. Final documentation is anticipated to be completed in Q1 2023 or early Q2 2023.
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“Kontrol’s emission platform continues to accelerate as new regulations take hold across multiple global industries including oil, gas, cement, plastics, biogas and more,” says Paul Ghezzi, CEO of Kontrol. “We are building our platform with a particular focus on scalable opportunities which include specialized integration and distribution of emission technology with global applications. The emissions team continue to open new markets and opportunities as we seek to execute on robust organic growth in 2023.”
The emission monitoring systems market size was valued at USD 3.86 Billion in 2020 and is projected to reach USD 8.58 Billion by 2028. Restrictions by the governments, with an increase in awareness regarding health and safety of the environment and increasing usage of oil, gas and petrochemicals are the factors driving the growth of the industry.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
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