- Kontrol Energy is entering the cannabis vertical sector, as legalization of recreational cannabis in Canada opens up C$6 billion market
- Company’s smart energy solutions, utilizing IoT, cloud and SaaS technologies, could significantly cut costs
- As competition intensifies, production efficiency is set to become a differentiating success factor
The legalization of recreational cannabis on October 17, 2018, in Canada has opened a market, estimated at just under C$6 billion, to competitive forces. Now, market pressure will, undoubtedly, drive the search for more efficient production methods. One big-ticket item set to garner attention is the cost of energy, which makes up around 30 percent of direct grow expenses. This is all very well and good for Kontrol Energy Corp. (CSE: KNR) (FSE: 1K8). The Ontario-based tech company specializes in the integration of smart energy technologies and solutions for commercial and industrial property owners and operators aimed at helping them benefit from energy cost savings and minimize greenhouse gas emissions. Voted the seventh-fastest growing startup in 2018, Kontrol aims to be a leader in the energy efficiency sector through the implementation of IoT, cloud and SaaS technologies.
With the passage of its Cannabis Act in June 2018, Canada became the first G7 country and the second nation state (Uruguay was the first) to legalize the use of marijuana for general adult use. The large black market is now about to change color as it opens up to…
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