Last week, green technology company Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) posted its annual earnings report on April 29th 2020 and the company was pleased to announce that it had generated $14.6 million for the year ending December 31st 2019 up 35% over same period last year. Kontrol also reported that the company’s Adjusted ABITDA for the year was $525,121, for an increase of $692,693 when compared to 2018’s negative Adjusted EBITDA of ($167,572). Paul Ghezzi, CEO of KNR stated "Fiscal year 2019 was another strong year of sales growth as we continue to deliver solutions to an impressive customer base including large established industrials to leading property managers and building owners”.
Shares of KNR were trading at a market cap of $9.7 million or $.325 cents per share when it posted its annual revenues and since then, shares of KNR have rallied as much as 38% since its annual revenues report and have now surpassed Greenlane Renewables in terms of share price.
Kontrol Energy also noted some important highlights that has transpired over that last year for the company which included: receiving its first order from Toyota Tsusho, completed pilot of the company’s analyzer equipment and received a purchase order from Beyond Meat. In addition to many positive highlights, KNR also was selected as Start Up 50 from Maclean’s for its second consecutive year.
On April 27th Kontrol Energy announced that it has launched a new enterprise solution for its proprietary energy management software platform for (OEMs) Original Equipment Manufacturers. Kontrol Energy will provide white label solutions to OEM’s which will be implemented to energy efficiency products at the point of sale. "Based on ongoing discussions with our customers and a growing market opportunity, we are launching a solution to provide OEMs in the energy efficiency and energy retrofit market with a white label solution powered by Kontrol's SmartSite® platform," says Paul Ghezzi, CEO at Kontrol. "OEM partners will be able to seamlessly integrate their equipment products into this platform and drive new sales in their customer base." This new extension of Kontrol’s product offering is a great way to expand on its already growing revenues.
Shares of KNR are currently up 117% from $.21 cents as stocks tumbled to corona lows but have since recovered very healthy above the $.40 cent range and at this rate, the stock seems to be destined to breaks $.60’s next week possibly. With shares currently sitting at $.445 cents, Kontrol Energy is still valued $1M below its annual revenues of $14.6M.
With growing revenues year over year, increase in product demand with blue chip companies like Beyond Meat and Toyota, investors should expect the momentum to continue as its operations expand and more developments are announced to the marketplace.
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