Canadian smart building specialist Kontrol Technologies announced that it has surpassed 400 customer buildings and is set to double its market share in 2022.
Accelerating energy costs, greenhouse gas emission penalties, stakeholder activism demanding more robust sustainability initiatives and the need for healthy buildings is driving record growth in the company’s operating platform, Kontrol Technologies said.
“The commercial, multi-residential and industrial building sectors are facing severe challenges with rising energy costs and the shift by Governments to penalize excessive GHG emissions,” said Paul Ghezzi, CEO of Kontrol Technologies. “In addition, shareholder activism is demanding that large real estate asset managers, owners and operators take immediate action to reduce emissions across their building portfolios. All of these factors are creating tailwinds in our business across our energy, emissions and air quality technology and service offerings.”
The company has previously announced preliminary record revenues for Q3 2021 of at least $18 million.
Including the recent acquisition of Global HVAC and Automation, the company has previously announced a record order book of $160 million. Based on its current order book and the new opportunities across its operating platform, Kontrol anticipates that it will double its customer building footprint in 2022 to 800 buildings.
“The recent rise in energy and utility costs, coupled with concerns over GHG emissions and the importance of embedded intelligence to drive healthy and sustainable buildings is accelerating the building modernization cycle. We are currently quoting at record levels across our operating platform,” Ghezzi added. “Kontrol continues to increase its brand and technology solutions platform for a growing blue chip customer base.”
The firm said that Global’s service offering complements Kontrol’s existing product portfolio, adding that the combination of the two is expected to create significant growth opportunities over the coming years.
Global has traditionally focused on larger projects, with one-time project revenues. A small percentage of its overall business is in recurring service and asset maintenance. Global will operate as a subsidiary of Kontrol with its current management team in place. Kontrol said it will seek to grow Global’s recurring revenues through vertical integration with its current software and ongoing service agreements.
Kontrol’s SmartSite platform integrates into building automation systems and provides a data analysis, reporting and smart learning algorithms to drive improvements in overall energy management and sustainability. Kontrol will integrate its facility management with the Global project platform to drive software revenues.
Kontrol also operates a facility management platform with ongoing and recurring revenues to manage energy assets and optimize them for performance. Kontrol said it aims to integrate its facility management with the Global project platform to drive service revenues.