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On average, commercial buildings across North America are wasting 30% of the energy they consume. With 93 billion square feet of commercial property, accounting for 35% of the nation’s total energy consumption, that adds up to 826 million metric tons of carbon dioxide emissions each year — not to mention the $57 billion in energy expenditures wasted. With the federal government’s aggressive net zero emissions by 2050 policy in progress, simply improving efficiency to eliminate that waste would already take us a third of the way to that goal.
This push to net zero across commercial buildings has created a multibillion-dollar market for smart building technology and other energy waste and emissions compliance solutions. That’s where Kontrol Technologies Corp (OTCQB:KNRLF) comes in. The leading smart building solutions company acquired Global HVAC & Automation, Inc. (Global) this month to further bolster its existing portfolio of energy-efficient tech.
The Global HVAC & Automation Acquisition
The $155 million deal represents the largest consolidated revenue order book in the company’s history and will enable Kontrol to substantially scale its operations, reaching new customers and offering more robust energy-efficient solutions to its existing ones.
Global offers integrated heating, cooling and ventilation systems, complete with automation to provide better monitoring and control of energy usage. Since HVAC systems can account for as much as 70% of a building’s energy consumption, modernizing it with the most energy-efficient components and an automated system is one of the best ways a building can tackle energy waste.
The acquisition adds to Kontrol’s already robust roster of smart building solutions. In addition to now offering integrated HVAC systems, Kontrol delivers a unified technology platform to reduce energy costs and modernize the worst energy waste offenders in their buildings. Through their software, service and automation platform Kontrol is growing well above industry averages and is consolidating a lucrative market.
BioCloud Technology Launch Expands Kontrol’s Suite of Smart Building Solutions
Beyond making buildings more energy efficient and empowering owners to monitor usage and tackle waste more proactively, Kontrol also offers a range of other technology and monitoring tools to make buildings safer.
In addition to the Global acquisition, Kontrol also partnered with Steelcase (NYSE:SCS) this month to launch Kontrol’s BioCloud® Technology in the U.S. and Canada. The tech provides real-time detection of pathogens, including COVID-19, by continuously sampling and testing the surrounding air wherever the device is placed. If a virus is detected, the owner immediately gets an alert on their phone or other device. To immediately detect and identify airborne pathogens indoors could finally pave the way for a safe return to offices, classrooms and other spaces where people gather.
With improved energy efficiency, reduced emissions and better air quality monitoring, Kontrol is helping building owners everywhere make their properties safer for people and for the environment.