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Canadian Co. Closes Major Sales in Furtherance of Green Building Initiatives

Source: Streetwise Reports


April 25, 2023 ( Newswire) ATI Airtest Technologies Inc. moves buildings toward sustainability with green HVAC systems. Click here to see how they closed two major sales with Canadian clients.

ATI Airtest Technologies Inc. (AAT:TSX.V; AATGF:OTC) has news related to the closing of two major sales deals. ATI sold a number of carbon dioxide sensors to a client and closed a separate sale to a chain of specialty food stores in Ontario.

ATI Airtest Technologies Inc is a green technologies company that specializes in Demand Control Ventilation systems. The technology it offers increases efficiency and energy savings. The president is Lorne Stewart, and Ted Konyi is the CEO.

ATI Airtest Closes Major Deals

ATI Airtest sold 1,200 carbon dioxide (CO2) sensors to an original equipment manufacturer (OEM) customer. Airtest reports that this is one of many OEM customers that the company does business with.

Lorne Stewart, Airtest's president, said, "We continue to have success providing sensors to a wide range of OEM customers. This business is a nice addition to our growing number of mechanical contractors and HVAC (heating, ventilation, and air conditioning) wholesalers that represent the bulk of Airtest's sales efforts."

ATI Airtest Technologies Inc. has reached an agreement with a specialty food store group in Toronto, Canada.

The company will install equipment at the stores, which will be monitored for a 2-month period after installment. The installation project will be handled by Star Energy, a partner of Airtest. The project will encompass all store locations in the area, of which there are over thirty.

According to Lorne Stewart, the company president, "We have been working with the CEO of the food stores chain and Kuldeep Saxena of Star Energy to develop this pilot over the last month . . . we are anticipating that there will be subsidies available from Save On Energy and Enbridge to support the cost of installation and reduce the payback period. This will be a great reference site for the company in Ontario."

Why HVAC Technology?

According to the Air Conditioning Contractors of America, the HVAC industry in the U.S. is set to increase to US$35.8 billion by 2030, with a compound annual growth rate of 9.7% from 2019 to 2025.

This increase is being driven by higher demand for energy efficiency as the country strives to reach new energy efficiency standards. The southern region of the country is expected to see the largest increase in demand, where air conditioning is a necessity, and the construction industry has grown by 6% from 2017 to 2018.

In the broader North American market, the HVAC industry is projected to grow to 62.31 billion by 2029. COVID-19 also served to boost the market as indoor air quality became a large feature of the conversation surrounding infection prevention. Green building practices have also been a feature of the Canadian market. The Canada Green Building Council's energy-efficient building initiatives to reduce greenhouse gas emissions were a main feature of 2019's budget. These green building initiatives require an energy-efficient heating and cooling system.

Additionally, smart system integration has been a feature of new HVAC technologies. In addition to providing clients with a more direct method of control over their systems, smart technology continues to increase efficiency and sustainability as the digital system is able to adjust to environmental data.


According  to Chris Temple of The National Investor, "If the company can keep up with what seems likely to be much more brisk demand for its offerings, it seems that the healthy quarter-over-quarter revenue that should ensue will foster a continuation in the share price rebound."

ATI Airtest has a number of short-term catalysts coming up. ATI has many pilot installations coming up within the next few months, and the company anticipates that this could represent orders amounting to tens of millions of dollars over the next year.

The company hired a new president that is focused on sales and has experience in the HVAC industry. Ron Struthers commented on the new hire: "He has continually exceeded sales targets, growing his sales territory by 400% during the last four years. This has given him an opportunity to understand the industry and the potential that exists for Airtest. I believe that this addition to the Airtest team is a significant step toward strategic growth."

Rising energy prices and ESG mandates that require reduced carbon emissions have caused various industries to start searching for more innovative technologies. Clive Maund said of the company's future prospects, "ATI Airtest is therefore regarded as an attractive speculative Buy at these levels for further appreciation and potentially big percentage gains from the current low price. Note that it barely trades on the US OTC market, where limit orders should always be employed, although volumes should improve with the price."

Ownership and Share Structure

Management and insiders own about 160 million shares. Robert Bruce Mebruer owns 12.26%, George Burton Graham owns 2.55%, and Lorne Kendall Ogden Stewart, the president of ATI Airtest, owns 0.45%. The company reports no significant investment from institutions and no strategic investors.

The rest is with retail investors. 

ATI Airtest has about CA$300k in the bank, with a burn rate of CA$140k, and about CA$30k net monthly profit.

ATI Airtest has a market cap of about US$2 million. There are 202 million shares, 72 million warrants, and 7.5 million options, and according to Market Watch, it trades in the 52-week range between CA$0.01 and CA$0.07.


1) Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: none. She or members of her household are paid by the following companies mentioned in this article: none. Her company has a financial relationship with the following companies referred to in this article: none.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: none. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with ATI Airtest Technologies Inc. Please click here for more information. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of none. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ATI Airtest Technologies Inc., a company mentioned in this article.

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