Kontrol Energy launches the bIOTAsphere, a Decentralized Ledger Technology accelerator & commercialization facility
TORONTO, Feb. 14, 2018 /CNW/ - Kontrol Energy Corp. ("Kontrol", or the "Company") (CSE: KNR, FSE: 1K8) launches the bIOTAsphere, a Decentralized Ledger Technology (DLT) accelerator and commercialization facility serving academia, government, and business groups looking to bring solutions to market in the sectors of distributed energy, carbon reduction, smart buildings and the Internet of Things (IoT).
The bIOTAsphere, powered by Kontrol Energy, will provide the technical, business and collaborative resources to accelerate the commercialization of new DLT solutions. The bIOTAsphere is focused on applications and services that are built upon the IOTA DLT protocol, and that use the unique capabilities of this technology. Kontrol Energy is committed to supporting a new generation of products, services, and solutions that will revolutionize our daily lives and the buildings and spaces in which we live, work and play. The primary goal of the bIOTAsphere is not only to minimize our current impact on the environment but also to advance technologies that will reverse the impacts of historic GHG emissions.
The bIOTAsphere will offer a platform for high potential early-stage companies, established corporations, governments, and universities to collaborate, explore and demonstrate how DLT can bring new benefits to society and business. "Realizing the full potential of DLT requires open partnerships within the technology community to accelerate and drive innovation," says Paul Ghezzi, CEO of Kontrol Energy. "The bIOTAsphere will operate as a not for profit with various membership participation levels."
The bIOTAsphere is fully supported by the non-profit IOTA Foundation, based in Berlin, Germany. Dominik Schiener, Chairperson of the Board of Directors says, "we intend to participate in the bIOTAsphere project as an official partner while engaging some of our partner companies in this co-innovation exercise."
The bIOTAsphere will serve as the primary Canadian office for the IOTA Foundation. To learn more about the bIOTAsphere project or to inquire about becoming a member of the community, visit http://www.bIOTAsphere.com
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR, FSE: 1K8) is a leader in energy efficiency solutions and technology. Through a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com
About IOTA
IOTA is an open-source distributed ledger protocol that goes beyond blockchain through its core invention of the blockless Tangle. The IOTA Tangle is a quantum-proof Directed Acyclic Graph, with no fees on transactions and no fixed limit on how many transactions can be confirmed per second in the network. Instead, throughput grows in conjunction with activity in the network; the more activity, the faster the network. Unlike traditional blockchain architecture, IOTA has no separation between users and validators; rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. IOTA is initially focused on serving as the backbone of the emerging Internet-of-Things (IoT).
In 2017, The IOTA Foundation launched a micropayment-based data marketplace that's powered by the IOTA DLT. The initiative has gathered the participation from more than 20 global organizations, including corporations such as Deutsche Telekom, Bosch, Philips, Accenture, Ernst & Young, and Fujitsu. The public marketplace aims to give connected devices the ability to securely transfer, buy and sell fine-granular and diverse data-sets while ultimately facilitating access to data that would otherwise not be monetized.
As per BCG Internet of Things buyer survey, with the accelerating adoption of Internet-enabled everyday products, the business-to-business market for the "Internet of Things" (IoT) is anticipated to reach $267 billion by 2020. As more devices create a near-endless stream of data, the market potential for monetizing data-driven insights is equally significant.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
The forward-looking statements in this press release are presented for the purposes of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. Where the Company expresses or implies an expectation or belief as to future events or results, such expectations or beliefs are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the Target will be successfully integrated into the Company, that the Distributed Ledger Technology solution is not completed, that there are material changes to the carbon offset markets from a regulatory or compliance perspective, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, that the Company will succeed in completing its proposed financing, that all conditions precedent to the acquisition of the Target will be met within the required timeframes, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, that the Target will not be successfully integrated or will not perform as expected, that Kontrol has insufficient capital to develop the Distributed Ledger Technology solutions and, there being a lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected that customers and potential customers will not be as accepting of the Company's (including the Target's) product and service offering as expected, and government and regulatory factors impacting cryptocurrency generally and the energy conservation industry. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable securities law.
SOURCE Kontrol Energy Corp.
