Charge Enterprises' Subsidiary ANS Advanced Network Services Awarded Five Contracts Across Four States

Rhea-AI Summary

Charge Enterprises, Inc. (Nasdaq:CRGE) announced on July 18, 2022, that its subsidiary, ANS Advanced Network Services LLC, secured five contracts worth $9.1 million for a distributed antenna system and data-center expansions. The projects span New York, Connecticut, Pennsylvania, and Ohio for a Tier 1 cellular service provider. Completion dates are set for the end of 2022 and 2023. CEO Andrew Fox highlighted the importance of these contracts, reflecting strong client relationships and growth prospects in infrastructure services.

Positive

• Secured five contracts totaling $9.1 million, indicating a strong demand for services.
• Contracts include significant data-center expansions across key states, which may enhance revenue streams.
• Completion of projects expected by the end of 2022 and 2023, showcasing timely project execution.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / July 18, 2022 / Charge Enterprises, Inc. (Nasdaq:CRGE) ("Charge" or the "Company"), a global business with the vision of connecting people everywhere with communications and electric vehicle ("EV") charging infrastructure, announced today that its subsidiary, ANS Advanced Network Services LLC (ANS), has been awarded five contracts for a distributed antenna system (DAS) and data-center expansions totaling $9.1 million in New York, Connecticut, Pennsylvania, and Ohio for a Tier 1 cellular-service provider.

The data-center expansion projects are in Long Island, Central Pennsylvania, Connecticut, and Central New York. Three of those are anticipated for completion by the end of 2022. The Long Island project is anticipated to be completed by the end of 2023.

The fifth contract, for ANS to design, install, and commission a cellular distributed antenna system (DAS) across 13 buildings at a major hospital campus in Ohio. It is anticipated to be completed by the end of 2023.

"Our teams understand how important these infrastructure improvements are for our clients and their customers," said Paul Fettuccia, President and CEO, ANS Advanced Network Services. "We take great pride in the services we provide and are thankful to be a trusted partner on these key initiatives."

Andrew Fox, Founder, Chairman and CEO of Charge Enterprises added, "What makes these projects so meaningful is that we continue to see our clients repeat and expand our opportunities to work together, which is a testament to the team repeatedly delivering the highest level of specialized services to clients across the country. Our entire team remains excited about the growth prospects for our infrastructure offerings as we move forward together."

About Charge Enterprises, Inc.

Telecommunications

Our Telecommunications business ("Telecommunications") has provided routing of both voice and data to Carriers and Mobile Network Operators ("MNOs") globally for over two decades and we will selectively add profitable products and services to this long-established business.

Infrastructure

Our Infrastructure business ("Infrastructure") has a primary focus on two fast growing sectors: electric vehicle ("EV") charging, and Telecommunications Network 5G, including cell tower, small cell, and in-building applications. Solutions for these two sectors include: Design and Engineering, Equipment Specification and Sourcing, Installation, Data and Software Solutions, and Service and Maintenance.

To learn more about Charge, visit Charge Enterprises, Inc.

Notice Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current expectations or beliefs regarding future events or Charge's future performance. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. All forward-looking statements, including those herein, are qualified by this cautionary statement.

Although Charge believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include the business plans and strategies of Charge, Charge's future business development, market acceptance of electric vehicles, Charge's ability to generate profits and positive cash flow, changes in government regulations and government incentives, subsidies, or other favorable government policies, and other risks discussed in Charge's filings with the U.S. Securities and Exchange Commission ("SEC"). Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release or as of the date or dates specified in such statements. For more information on us, investors are encouraged to review our public filings with the SEC which are available on the SEC's website at www.sec.gov. Charge disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Media Contacts:

Steve Keyes (248) 952-7022
skeyes@revolutionworld.com

Investor Relations:

Christine Cannella (954) 298-6518
Ccannella@charge.enterprises

Carolyn Capaccio, CFA (212) 838-3777
Ccapaccio@lhai.com

SOURCE: Charge Enterprises Inc.

View source version on accesswire.com:
https://www.accesswire.com/708860/Charge-Enterprises-Subsidiary-ANS-Advanced-Network-Services-Awarded-Five-Contracts-Across-Four-States

FAQ

What contracts did Charge Enterprises announce on July 18, 2022?

Charge Enterprises announced five contracts worth $9.1 million for distributed antenna systems and data-center expansions.

Which states are included in Charge Enterprises' new contracts?

The contracts are located in New York, Connecticut, Pennsylvania, and Ohio.

Who is the client for Charge Enterprises' new contracts?

The contracts are for a Tier 1 cellular service provider.

When are the projects expected to be completed?

Three projects are expected for completion by the end of 2022, and the remaining by the end of 2023.

What is the significance of the contracts for Charge Enterprises?

The contracts demonstrate strong client relationships and potential growth in infrastructure services.