Crown Announces Exclusive Partnership with Electro Scan Inc. Advancing Lead Pipe Detection
Crown Electrokinetics (NASDAQ: CRKN) has secured an exclusive partnership with Electro Scan Inc. to deploy the Swordfish lead detection device across 48 U.S. states. The partnership supports Crown's Element 82 division, which is expected to contribute to the company's projected 2025 revenue of $30-35 million.
The Swordfish is the first hand-held buried lead pipe detection tool that can automatically identify buried copper, galvanized, plastic, and lead pipes without excavation. In 2024, Element 82 successfully inspected over 2,500 homes using this technology.
Notably, in December 2024, the U.S. EPA recognized electrical resistance testing, the technology behind Swordfish, as the only commercially available innovative solution for identifying buried lead pipes. Electro Scan holds multiple U.S. and international patents for this technology.
Crown Electrokinetics (NASDAQ: CRKN) ha siglato una partnership esclusiva con Electro Scan Inc. per implementare il dispositivo di rilevamento del piombo Swordfish in 48 stati americani. La partnership sostiene la divisione Element 82 di Crown, che contribuirà alle entrate previste di 30-35 milioni di dollari entro il 2025.
Swordfish è il primo strumento portatile per la rilevazione di tubi di piombo interrati, capace di identificare automaticamente tubi di rame, zincati, plastica e piombo senza necessità di scavo. Nel 2024, Element 82 ha ispezionato con successo oltre 2.500 case utilizzando questa tecnologia.
È importante notare che, a dicembre 2024, l'EPA degli Stati Uniti ha riconosciuto il test di resistenza elettrica, la tecnologia alla base di Swordfish, come l'unica soluzione innovativa commerciale disponibile per identificare tubi di piombo interrati. Electro Scan possiede numerosi brevetti sia negli Stati Uniti che a livello internazionale per questa tecnologia.
Crown Electrokinetics (NASDAQ: CRKN) ha asegurado una asociación exclusiva con Electro Scan Inc. para desplegar el dispositivo de detección de plomo Swordfish en 48 estados de EE. UU. La asociación apoya la división Element 82 de Crown, que se espera contribuya a los ingresos proyectados de la empresa de 30-35 millones de dólares para 2025.
Swordfish es la primera herramienta portátil para la detección de tuberías de plomo enterradas que puede identificar automáticamente tuberías de cobre, galvanizadas, plástico y plomo sin excavar. En 2024, Element 82 inspeccionó con éxito más de 2,500 hogares utilizando esta tecnología.
Notablemente, en diciembre de 2024, la EPA de EE. UU. reconoció las pruebas de resistencia eléctrica, la tecnología detrás de Swordfish, como la única solución innovadora comercialmente disponible para identificar tuberías de plomo enterradas. Electro Scan posee múltiples patentes en EE. UU. e internacionales para esta tecnología.
Crown Electrokinetics (NASDAQ: CRKN)는 Electro Scan Inc.와 독점 파트너십을 체결하여 48개 미국 주에서 Swordfish 납 검출 장치를 배포하게 되었습니다. 이 파트너십은 Crown의 Element 82 부서를 지원하며, 이는 2025년 회사의 예상 수익에 3천만 - 3천500만 달러 기여할 것으로 예상됩니다.
Swordfish는 매립된 납 파이프를 자동으로 식별할 수 있는 최초의 휴대용 도구로, 매립된 구리, 아연도강, 플라스틱 및 납 파이프를 굴착 없이 확인할 수 있습니다. 2024년, Element 82는 이 기술을 사용하여 2,500개 이상의 주택을 성공적으로 검사했습니다.
주목할 점은 2024년 12월, 미국 EPA가 Swordfish의 기반 기술인 전기 저항 테스트를 매립된 납 파이프를 식별하기 위한 상업적으로 사용 가능한 유일한 혁신적 솔루션으로 인정했다는 것입니다. Electro Scan은 이 기술에 대한 여러 미국 및 국제 특허를 보유하고 있습니다.
Crown Electrokinetics (NASDAQ: CRKN) a conclu un partenariat exclusif avec Electro Scan Inc. pour déployer le dispositif de détection de plomb Swordfish dans 48 États américains. Ce partenariat soutient la division Element 82 de Crown, qui devrait contribuer aux recettes projetées de l'entreprise de 30 à 35 millions de dollars d'ici 2025.
Swordfish est le premier outil portable de détection de tuyaux en plomb enterrés pouvant identifier automatiquement les tuyaux en cuivre, galvanisés, en plastique et en plomb sans excavation. En 2024, Element 82 a réussi à inspecter plus de 2 500 maisons en utilisant cette technologie.
Notamment, en décembre 2024, l'EPA américaine a reconnu le test de résistance électrique, la technologie derrière Swordfish, comme la seule solution innovante commercialement disponible pour identifier les tuyaux en plomb enfouis. Electro Scan détient plusieurs brevets aux États-Unis et à l'international pour cette technologie.
Crown Electrokinetics (NASDAQ: CRKN) hat eine exklusive Partnerschaft mit Electro Scan Inc. geschlossen, um das Gerät zur Bleierkennung Swordfish in 48 US-Bundesstaaten einzuführen. Die Partnerschaft unterstützt die Abteilung Element 82 von Crown, die voraussichtlich zu den erwarteten Einnahmen des Unternehmens von 30-35 Millionen Dollar im Jahr 2025 beitragen wird.
Swordfish ist das erste tragbare Werkzeug zur Erkennung von im Boden vergrabenen Bleirohren, das automatisch vergrabene Kupfer-, feuerverzinkte, Kunststoff- und Bleirohre ohne Ausgrabung identifizieren kann. Im Jahr 2024 hat Element 82 erfolgreich über 2.500 Häuser mit dieser Technologie inspiziert.
Bemerkenswerterweise erkannte die US-EPA im Dezember 2024 den elektrischen Widerstandstest, die Technologie hinter Swordfish, als die einzige kommerziell verfügbare innovative Lösung zur Identifizierung von vergrabenen Bleirohren. Electro Scan hält mehrere US-amerikanische und internationale Patente für diese Technologie.
- Exclusive rights secured for lead detection technology across 48 U.S. states
- Projected revenue guidance of $30-35 million for FY2025
- Successfully inspected 2,500 homes in 2024
- EPA recognition as only commercially available innovative solution for lead pipe detection
- Multiple U.S. and international patents held for the technology
- None.
Insights
Crown's exclusive partnership with Electro Scan represents a strategic market positioning with substantial revenue potential. The projected
The timing is optimal, coinciding with increased federal funding for lead pipe replacement initiatives. With over 2,500 homes already inspected in 2024 and the EPA's recent endorsement of electrical resistance testing as the sole innovative commercial solution, Crown is positioned to capture a significant share of the
For investors, this represents a potential inflection point. The disparity between the current market cap and projected revenues suggests either significant undervaluation or ambitious projections that warrant careful scrutiny. The non-invasive nature of the technology provides a clear competitive advantage, potentially leading to faster adoption and higher margins compared to traditional methods.
The Swordfish technology represents a breakthrough in infrastructure assessment methodology. Traditional lead pipe detection typically requires destructive testing or ground penetrating radar with accuracy. The ability to automatically identify different pipe materials non-invasively is a game-changing capability that could accelerate the national lead pipe replacement initiative.
The EPA's endorsement of electrical resistance testing as the only viable commercial solution significantly validates this technology. For context, current methods often rely on historical records, visual inspections, or sampling - all of which have significant limitations and error rates. The automation and non-invasive nature of Swordfish could reduce assessment costs by up to
Think of it as an MRI for infrastructure - seeing through ground without surgery. This could revolutionize how utilities approach their lead service line inventory and replacement programs, potentially saving billions in unnecessary excavation costs while expediting the identification process.
Distinct and Highly Scalable Competitive Advantage Providing the Only Non-Invasive Solution Available
LOS ANGELES, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that it has entered into an exclusive partnership with Electro Scan Inc., the developer of cutting-edge lead detection technology. Under this agreement, Crown has secured exclusive rights to deploy Electro Scan’s advanced lead detection device, the Swordfish, across 48 U.S. states. This partnership firmly positions Crown’s Element 82 as a leader in lead pipe detection solutions.
Element 82 is expected to play a significant role in contributing to Crown’s expected full year 2025 revenue guidance of
The Swordfish is the world’s first hand-held buried lead pipe detection tool, capable of automatically identifying buried copper, galvanized, plastic, and lead pipes without the need for digging or excavation. Element 82 utilizes Swordfish devices to provide municipalities and utilities with a non-invasive, non-destructive solution to accurately detect lead and galvanized water services, ensuring safer and more efficient water infrastructure management.
In 2024, Element 82 successfully inspected over 2,500 homes using Swordfish devices, underscoring the effectiveness and reliability of this innovative technology in addressing one of the most critical challenges in water infrastructure today.
“This exclusive partnership reinforces Crown and Electro Scan’s shared commitment to safeguarding public health by addressing the risks of lead contamination in water systems,” said David Kinsella, President, Element 82. “We are thrilled to partner with Electro Scan and bring their groundbreaking Swordfish technology to more communities across the U.S. This agreement enables us to expand our efforts in delivering innovative, non-invasive solutions that help utilities modernize their infrastructure and ensure access to safe, lead-free water.”
"Electro Scan is proud to partner with Crown, combining our innovative Swordfish technology with their expertise to tackle one of the most pressing challenges in water safety," said Chuck Hansen, Chairman and Founder of Electro Scan Inc. "Electro Scan Inc. holds multiple U.S. and international patents for using electrical resistance testing to locate pipeline water leaks and identify lead water service lines. In December 2024, the U.S. EPA named electrical resistance testing as the only commercially available innovative solution capable of identifying buried lead pipes. This partnership highlights our shared commitment to delivering cutting-edge solutions that empower utilities and protect public health."
About Electro Scan Inc.
Electro Scan is an independent, impartial and innovative partner to utilities, municipal water and sewer agencies, and consulting engineering firms in the Testing, Inspection and Certification (TIC) market. The company designs, develops, markets, and provides inspection services to certify repairs, rehabilitation, leak locations, pipe materials, and condition assessment of existing infrastructure. Patented and patent-pending technology locates buried lead pipes, finds & quantifies pipeline leakage, and tests Cured-In-Place Pipe (CIPP) and certifies trenchless rehabilitation as leak-free. For more information, please visit www.electroscan.com.
About Crown
Crown (Nasdaq: CRKN) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit www.crownek.com.
Forward Looking Statements
Certain statements in this news release may be "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown’s future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” . Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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FAQ
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