Crown Electrokinetics Executes Master Services Agreement with New Customer

Rhea-AI Summary

Crown Electrokinetics Corp. announces Mater Services Agreement with a large US contractor for two projects in Arizona with potential revenue of up to $70 million. Company expects to grow in Arizona by adding more personnel and equipment.

Positive

• Mater Services Agreement with a large US contractor
• Potential revenue of up to $70 million
• Company's growth in Arizona

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / September 18, 2023 / Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks, today announced it has executed a Mater Services Agreement ("MSA") with one of the largest contractors in the United States. Crown's new customer has significant operations in Arizona as well as 19 other states.

Crown expects to commence the first two projects in Arizona in October through the deployment of traditional drilling, along with its newly acquired micro trenching equipment. Total revenue potential of the first two projects is expected to be up to $70 million.

Doug Croxall, Crown CEO and Chairman stated, "A few weeks ago we announced our intention to move towards micro trenching as a technique for the construction of fiber optic networks. We disclosed our intent to put the new equipment to work in the Arizona market within the next two to three weeks. Today's announcement with one of the largest contractors in the United States to commence two projects with revenue potential of $70 million, represents Crown achieving another major milestone on that strategic path.

"With the appropriate financing secured, as well as the equipment and personnel, Crown Fiber Optics can focus on revenue generation. Our expectation will be to grow within Arizona by adding more personnel and equipment."

The Company will hold its previously announced conference call where management will discuss this agreement and other important developments.

Conference Call Information

To participate in this event, please log-on or dial-in approximately 5 to 10 minutes before the beginning of the call.

Date: September 18, 2023
Time: 4:30 p.m. EST
1-877-451-6152 or 1-201-389-0879

Conference ID: 13740994
Webcast:- https://viavid.webcasts.com/starthere.jsp?ei=1632351&tp_key=3282ea36d6

Participants may also join by using Call me™ at the link below:
Call me™:

https://callme.viavid.com/viavid/?callme=true&passcode=13722237&h=true&info=company&r=true&B=6. Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time.

Conference Call Replay Information

Toll-free: 1-844-512-2921
International: 1-412-317-6671
Replay Pin Number: 13740994

Replay Webcast: https://viavid.admin.webcasts.com/admin/index.jsp?guest=report_1632351

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of our Smart Window Insert and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks.

Safe Harbor Statement:

Statements in this news release may be "forward-looking statements". 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.

Crown Electrokinetics
IR Email: info@crownek.com

SOURCE: Crown Electrokinetics

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