Business
Telkonet Inc. Lands In Europe with Plans to Become a Strategic Technological Partner to Face the Rising Energy Costs
Telkonet Inc. Lands In Europe with Plans to Become a Strategic Technological Partner to Face the Rising Energy Costs.
About this update from Telkonet, Inc.
[{"type":"text","content":"WAUKESHA, WI / ACCESSWIRE / November 2, 2022 / Telkonet, Inc. (OTCQB:TKOI), (the "Company" or "Telkonet"), IoT innovator and a listed U.S. company based in Wisconsin, lands in Europe and launches its new occupancy-based Energy Management Solutions (EMS) in the European market. The Company anticipates that its EMS will be able to significantly reduce costs of utility bills, in some cases by 20 to 40 percent, and it will strive to be a strategic technology partner for all facilities that are suffering from rising energy costs. Thanks to the ease of installation of the wifi-capable products, Telkonet's solutions can be considered for the European retrofit market.The high energy prices that have been affecting Europe in recent months can be buffered with the use of modern digital technologies, even in a peculiar area such as hospitality and accommodation. In particular, Telkonet believes that the use of EMS can enable operators to save 20 to 40 percent of costs on their bills, resulting in shorter payback time from the investment.By working with VDA Group S.p.A. ("VDA"), the Company's majority stockholder and a multinational company headquartered in Italy that has been operating in GRMS for 40 years, the Company believes that it has excellent growth opportunities in the European market. Since partnering with VDA in 2021, Telkonet marked +29% compared to 2021 revenues. The Company looks to the future with positivity considering that their products are designed to curb high energy prices. By leveraging VDA's long history with GRMS in Europe, the Company intends to access a large, established international sales network and an expanded product range. There are 7 million hotel rooms across the European continent, and only 10 percent have installed GRMS and/or EMS systems, offering the Company a great opportunity for growth that it does not intend to let slip away.ABOUT THE GROUPTelkonet Inc. is a U.S. company based in Waukesha, Wisconsin. An IoT innovator focused on smart automation and energy management, Telkonet enables guests (occupants) to intelligently control energy use based on their preferences, reducing energy consumption, and improving facility management capabilities. In 2021, VDA Group S.p.A. became Telkonet's majority shareholder and has been working with Telkonet to facilitate Telkonet's acces...