Kontrol Technologies (KNR.NE) announced that its subsidiary CEM Specialties has been awarded a new order for the supply of multiple continuous emission monitoring systems for an oil and gas customer in Kuwait.
Kontrol expects the system will be delivered in the third quarter of 2021 with the assistance of local installation teams. Continuous emission monitoring systems are built to monitor gas emissions and particulate matter concentrate. The systems also includes software and algorithms that can produce results in units of the applicable regulatory emission limitation or standard.
Kontrol expects the system will be delivered in the third quarter of 2021 with the assistance of local installation teams.
Kontrol also noted that, on top of this upcoming order for Kuwait, they have, through CEM Specialties, have also delivered solutions to Canada, the USA, and Mexico.
“This order with a new customer represents our continued expansion into the $2.5 billion USD global emission monitoring system market1, with Kontrol’s Middle East footprint now including Kuwait,” says Paul Ghezzi, CEO of Kontrol Technologies. “Our strategy is focused on deploying our environmental monitoring and building technologies in large energy markets, and this initial sale serves as a prime example of our ability to do so effectively. Through our proprietary software, we will provide the customer with ongoing data and analytics needed to effectively monitor ongoing emissions which is paramount to enterprises within the oil and gas industry.”
Expansion into the Middle East is increasingly important. Even Saudi Arabia, the world’s second-largest oil producer, announced their plans to go green. The Middle East Initiative mostly focuses on decarbonization, but other environmental improvements often go hand-in-hand with decarbonization, and one of those is air quality.
Poor air quality has been found to cause the premature deaths of 5.5 million people every year. For comparison, to date, 3.28 million people have died from COVID-19. Monitoring the particles being pumped out into the air is not just important for the environment but also for people’s health.
Poor air quality has been found to cause the premature deaths of 5.5 million people every year.
Kontrol’s overall aim as a company is to integrate smart energy devices, energy software and energy retrofits to help organizations benefit from energy cost savings while minimizing greenhouse gas emissions. Countries aren’t going to start knocking down buildings and building green ones from scratch, so using technology to lower emissions caused by current buildings is an important part of meeting climate goals.
Generally, people associate the Middle East with oil, but there are many people in the Middle East who want to lead on green energy, and so creating a good presence is important for any green tech company.
Following today’s news, Kontrol shares are up 3 cents and are currently trading at $1.08.
