Crown Completes Construction of First-of-Its-Kind Slant Well in Mexico
Crown Electrokinetics (NASDAQ: CRKN) has completed construction of its first innovative slant well at the Twin Dolphin Club in Cabo San Lucas, Mexico. The 140-foot well, designed to extract water from beneath the ocean floor, represents a sustainable solution for coastal areas facing water scarcity. The construction involved overcoming challenging conditions and utilizing advanced technology, including an electrical resistivity survey with submarine cables to optimize placement.
The project, led by Construction President Corey Boaz, marks a significant milestone in sustainable water infrastructure. The well's proprietary design has already attracted interest in the Los Cabos region due to its unlimited water recharge capability. Crown plans to construct a second well at the same location and sees potential for expanding this technology to other water-scarce coastal areas globally.
Crown Electrokinetics (NASDAQ: CRKN) ha completato la costruzione del suo primo innovativo pozzo inclinato presso il Twin Dolphin Club a Cabo San Lucas, Messico. Il pozzo di 42 metri, progettato per estrarre acqua dal fondo dell'oceano, rappresenta una soluzione sostenibile per le aree costiere che affrontano la scarsità d'acqua. La costruzione ha comportato il superamento di condizioni difficili e l'utilizzo di tecnologie avanzate, inclusa un'indagine di resistività elettrica con cavi sottomarini per ottimizzare il posizionamento.
Il progetto, guidato dal Presidente della Costruzione Corey Boaz, segna un traguardo significativo nell'infrastruttura idrica sostenibile. Il design proprietario del pozzo ha già attirato interesse nella regione di Los Cabos grazie alla sua capacità illimitata di ricarica dell'acqua. Crown prevede di costruire un secondo pozzo nella stessa posizione e vede potenziale per espandere questa tecnologia ad altre aree costiere globalmente, carenti di acqua.
Crown Electrokinetics (NASDAQ: CRKN) ha completado la construcción de su primer innovador pozo inclinado en el Twin Dolphin Club en Cabo San Lucas, México. El pozo de 42 pies, diseñado para extraer agua del fondo oceánico, representa una solución sostenible para las áreas costeras que enfrentan escasez de agua. La construcción implicó superar condiciones desafiantes y utilizar tecnología avanzada, incluyendo un estudio de resistividad eléctrica con cables submarinos para optimizar la ubicación.
El proyecto, liderado por el presidente de Construcción Corey Boaz, marca un hito significativo en la infraestructura hídrica sostenible. El diseño propietario del pozo ya ha atraído interés en la región de Los Cabos debido a su capacidad de recarga de agua ilimitada. Crown planea construir un segundo pozo en el mismo lugar y ve potencial para expandir esta tecnología a otras áreas costeras con escasez de agua a nivel mundial.
Crown Electrokinetics (NASDAQ: CRKN)는 멕시코 까보 산 루카스의 트윈 돌핀 클럽에서 첫 번째 혁신적인 경사 우물을 완공했습니다. 140피트(약 42미터) 깊이의 이 우물은 해저에서 물을 추출하도록 설계되었으며, 물 부족에 직면한 해안 지역을 위한 지속 가능한 솔루션을 나타냅니다. 건설 과정에서는 도전적인 조건을 극복하고, 해저 케이블을 이용한 전기 저항성 조사 등 고급 기술을 활용했습니다.
프로젝트는 건설 사장인 코리 보아즈가 이끌며, 지속 가능한 수자원 인프라에 있어 중요한 이정표를 세우고 있습니다. 우물의 독점 설계는 무제한 수자원 재충전 능력 덕분에 로스 카보스 지역에서 관심을 불러일으켰습니다. Crown은 같은 장소에 두 번째 우물을 건설할 계획이며, 이 기술을 전 세계의 물 부족 해안 지역으로 확장할 잠재력을 보고 있습니다.
Crown Electrokinetics (NASDAQ: CRKN) a achevé la construction de son premier puits incliné innovant au Twin Dolphin Club à Cabo San Lucas, au Mexique. Ce puits de 42 pieds, conçu pour extraire l'eau du fond de l'océan, représente une solution durable pour les zones côtières confrontées à une pénurie d'eau. La construction a nécessité de surmonter des conditions difficiles et d'utiliser une technologie avancée, y compris une enquête de résistivité électrique avec des câbles sous-marins pour optimiser le placement.
Le projet, dirigé par le président de la construction Corey Boaz, marque une étape significative dans l'infrastructure hydrique durable. Le design propriétaire du puits a déjà suscité de l'intérêt dans la région de Los Cabos en raison de sa capacité de recharge d'eau illimitée. Crown prévoit de construire un deuxième puits au même endroit et voit un potentiel d'expansion de cette technologie vers d'autres zones côtières en pénurie d'eau à l'échelle mondiale.
Crown Electrokinetics (NASDAQ: CRKN) hat den Bau seines ersten innovativen Schrägbrunnens im Twin Dolphin Club in Cabo San Lucas, Mexiko, abgeschlossen. Der 42 Fuß tiefe Brunnen, der dazu entworfen wurde, Wasser vom Meeresboden zu fördern, stellt eine nachhaltige Lösung für Küstengebiete dar, die mit Wasserknappheit konfrontiert sind. Der Bau erforderte das Überwinden herausfordernder Bedingungen und den Einsatz modernster Technologie, einschließlich einer elektrischen Widerstandsuntersuchung mit Unterwasserkabeln zur Optimierung des Standorts.
Das Projekt, das von Baupräsident Corey Boaz geleitet wird, markiert einen bedeutenden Meilenstein in der nachhaltigen Wasserinfrastruktur. Das proprietäre Design des Brunnens hat bereits Interesse in der Region Los Cabos geweckt, aufgrund seiner unbegrenzten Wasserrückspeisefähigkeit. Crown plant, an derselben Stelle einen zweiten Brunnen zu bauen und sieht Potenzial, diese Technologie auf andere wasserknappe Küstengebiete weltweit auszudehnen.
- Successfully completed construction of innovative slant well technology
- Secured initial customer implementation at Twin Dolphin Club
- Generated interest from Los Cabos region for additional implementations
- Technology offers unlimited water recharge capability
- None.
Insights
The completion of Crown's innovative slant well represents a significant technological advancement in sustainable water infrastructure. The 140-foot slant well design employs subsurface intake technology that effectively minimizes environmental impact while providing reliable water access. The electrical resistivity survey utilizing submarine cables demonstrates sophisticated engineering methodology for optimal placement.
The project's success in Los Cabos could serve as a proof-of-concept for similar water-stressed coastal regions globally. The unlimited recharge capability through ocean floor extraction provides a sustainable alternative to traditional desalination plants, which often face environmental criticism and high operating costs. However, the scalability and long-term operational efficiency remain to be proven in different geological conditions.
Think of this technology as an underground straw that sips water through natural filtration rather than forcing it through artificial membranes. For coastal hotels and communities struggling with water security, this could be a game-changing solution that balances environmental responsibility with practical utility.
For a micro-cap company like Crown (market cap: $1.3M), this successful implementation could catalyze significant growth opportunities. The water infrastructure market in Mexico and other water-scarce regions represents a substantial addressable market. The Twin Dolphin Club installation serves as a valuable reference project that could accelerate adoption across the hospitality sector.
However, investors should note that while the technology shows promise, Crown's extremely low market capitalization suggests significant execution risks and potential financing challenges for rapid expansion. The company's ability to scale this technology and secure additional contracts will be important for financial sustainability.
In simple terms, Crown has built a working prototype of a potentially revolutionary water solution, but they'll need to prove they can turn this single success into a profitable business model. The next few quarters will be critical in demonstrating commercial viability and market acceptance.
LOS ANGELES, Dec. 23, 2024 (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 its Water Solutions division has successfully completed construction of the first of two slant wells at the Twin Dolphin Club in Cabo San Lucas, Mexico.
The slant well is the first-of-its-kind, an innovative design to address water scarcity, providing a sustainable and reliable source of water for coastal areas facing critical water challenges. Measuring 140 ft in length, the slant well is designed to efficiently extract water from beneath the ocean floor while minimizing environmental impact through advanced engineering and innovative technology.
“We are extremely proud to complete construction of the first-of-its-kind slant well,” said Corey Boaz, President of Construction. “During construction, the team overcame challenging ground conditions, storms, and limited work hours to minimize disturbances to the hotel’s operations. Crown performed an electrical resistivity survey, where submarine cables were laid on the ocean floor to ensure the optimal path and precise placement of the screen sections. This project sets a new benchmark for sustainable water infrastructure, demonstrating how innovative solutions can effectively address the pressing challenges of water scarcity.”
The slant wells will provide a dependable source of water for the Twin Dolphin Club while showcasing an innovative approach to addressing water scarcity. Crown’s proprietary design slant well has already garnered significant interest in the Los Cabos region due to its ability to secure an unlimited recharge source of water. With water scarcity being a critical issue worldwide, this innovative technology has the potential to address similar challenges in other coastal areas, offering a scalable and sustainable solution.
“Completion of the first slant well is a key milestone for Crown,” added Doug Croxall, CEO and Chairman, Crown. “This project demonstrates the transformative potential of our Water Solutions division and underscores our commitment to addressing global water scarcity through innovative and scalable technologies. We look forward to replicating its success many times in Mexico and additional water-scarce countries.”
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.
For more information, please contact:
Investor Relations
ir@crownek.com
Public Relations
pr@crownek.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c16ce03-4429-4d3d-b7d4-e5a70833fdfb
FAQ
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