Crown Electrokinetics Issues Letter to Shareholders
Crown Electrokinetics Corp. (NASDAQ: CRKN) has provided an update on its innovative slant well project in Cabo San Lucas, Mexico. The company's proprietary design allows for efficient water intake in coastal communities with poor quality aquifers. This technology offers a more economical and environmentally friendly alternative to traditional drilling methods and direct sea intakes.
Crown's process has garnered interest from developers who previously abandoned projects due to unreliable water sources. The company anticipates that its slant well approach could generate approximately $20 million in revenue over the next 15 months. Crown aims to expand its footprint to other regions facing water scarcity, including the Virgin Islands, Latin America, Africa, the South Pacific, and the Middle East.
Crown Electrokinetics Corp. (NASDAQ: CRKN) ha fornito un aggiornamento sul suo innovativo progetto di pozzi inclinati a Cabo San Lucas, in Messico. Il design proprietario dell'azienda consente un'efficace captazione dell'acqua nelle comunità costiere con falde acquifere di scarsa qualità. Questa tecnologia offre un alternativa più economica e rispettosa dell'ambiente rispetto ai metodi tradizionali di perforazione e di captazione diretta dal mare.
Il processo di Crown ha suscitato l'interesse di sviluppatori che in precedenza avevano abbandonato progetti a causa di fonti d'acqua inaffidabili. L'azienda prevede che il suo approccio con i pozzi inclinati possa generare circa $20 milioni di entrate nei prossimi 15 mesi. Crown punta ad espandere la propria presenza in altre regioni che affrontano la scarsità d'acqua, inclusi i Virgin Islands, l'America Latina, l'Africa, il Sud Pacifico e il Medio Oriente.
Crown Electrokinetics Corp. (NASDAQ: CRKN) ha proporcionado una actualización sobre su innovador proyecto de pozo inclinado en Cabo San Lucas, México. El diseño propietario de la empresa permite una captación de agua eficiente en comunidades costeras con acuíferos de mala calidad. Esta tecnología ofrece una alternativa más económica y respetuosa con el medio ambiente en comparación con los métodos tradicionales de perforación y captación directa del mar.
El proceso de Crown ha despertado el interés de desarrolladores que anteriormente habían abandonado proyectos debido a fuentes de agua poco fiables. La empresa anticipa que su enfoque de pozo inclinado podría generar aproximadamente $20 millones en ingresos durante los próximos 15 meses. Crown tiene como objetivo expandir su presencia a otras regiones que enfrentan escasez de agua, incluidos los Virgin Islands, América Latina, África, el Pacífico Sur y el Medio Oriente.
Crown Electrokinetics Corp. (NASDAQ: CRKN)은 멕시코 카보 산 루카스의 혁신적인 경사 우물 프로젝트에 대한 업데이트를 제공했습니다. 이 회사의 독점 설계는 질이 좋지 않은 수원지를 가진 해안 지역 사회에서 효율적인 수자원 확보를 가능하게 합니다. 이 기술은 전통적인 굴착 방법과 직접 해양 취수 방법에 비해 보다 경제적이고 환경 친화적인 대안을 제공합니다.
Crown의 프로세스는 신뢰할 수 없는 수천으로 인해 프로젝트를 포기했던 개발자들의 관심을 끌었습니다. 이 회사는 경사 우물 접근 방식이 향후 15개월 동안 약 2000만 달러의 수익을 발생시킬 것으로 기대하고 있습니다. Crown은 버진 아일랜드, 라틴 아메리카, 아프리카, 남태평양, 중동 등 물 부족 문제에 직면한 다른 지역으로 발자취를 확장할 계획입니다.
Crown Electrokinetics Corp. (NASDAQ: CRKN) a fourni une mise à jour sur son innovant projet de puits inclinés à Cabo San Lucas, au Mexique. Le design propriétaire de l'entreprise permet une prise d'eau efficace dans les communautés côtières avec des aquifères de mauvaise qualité. Cette technologie offre une alternative plus économique et respectueuse de l'environnement par rapport aux méthodes de forage traditionnelles et à la prise d'eau directe de la mer.
Le processus de Crown a suscité l'intérêt des développeurs qui avaient précédemment abandonné des projets en raison de sources d'eau peu fiables. L'entreprise s'attend à ce que son approche des puits inclinés puisse générer environ 20 millions de dollars de revenus au cours des 15 prochains mois. Crown vise à étendre son empreinte à d'autres régions confrontées à la pénurie d'eau, notamment les Îles Vierges, l'Amérique Latine, l'Afrique, le Sud Pacifique et le Moyen-Orient.
Crown Electrokinetics Corp. (NASDAQ: CRKN) hat ein Update zu ihrem innovativen Schrägbrunnenprojekt in Cabo San Lucas, Mexiko bereitgestellt. Das proprietäre Design des Unternehmens ermöglicht eine effiziente Wasserentnahme in Küstengemeinden mit schlechten Aquiferen. Diese Technologie bietet eine wirtschaftlichere und umweltfreundlichere Alternative zu traditionellen Bohrmethoden und direkten Seewassereinleitungen.
Der Prozess von Crown hat das Interesse von Entwicklern geweckt, die zuvor Projekte aufgrund unzuverlässiger Wasserquellen aufgegeben hatten. Das Unternehmen erwartet, dass sein Schrägbrunnenansatz in den nächsten 15 Monaten etwa 20 Millionen Dollar an Einnahmen generieren könnte. Crown plant, seine Präsenz auf andere wasserknappe Regionen auszudehnen, darunter die Jungferninseln, Lateinamerika, Afrika, den Südpazifik und den Nahen Osten.
- Innovative slant well technology for efficient water intake in coastal areas
- Potential to generate $20 million in revenue over the next 15 months
- Expanding market opportunities in water-scarce regions globally
- More economical and environmentally friendly alternative to traditional methods
- None.
Insights
Crown Electrokinetics' announcement about their slant well technology in Cabo San Lucas is intriguing, but lacks concrete financial details. While the company projects
Crown's innovative slant well technology addresses a critical issue in coastal water management. Traditional vertical beach wells often struggle in areas with poor quality aquifers, limiting water extraction capabilities. Crown's approach could be a game-changer, potentially unlocking water resources in previously challenging locations. The environmental benefits, including reduced impact compared to direct sea intakes, are noteworthy. However, the technology's effectiveness may vary depending on local geological conditions, which requires careful site-specific assessment. While promising, more data on the technology's long-term performance and scalability across diverse environments would be needed to fully evaluate its potential impact on the water management industry.
The market potential for Crown's slant well technology appears significant, especially in water-stressed coastal regions. The company's focus on underserved areas like the Baja Peninsula, Virgin Islands, Latin America, Africa, South Pacific and Middle East aligns with growing global water scarcity concerns. However, the actual market size and Crown's ability to capture it remain uncertain. Competition from established desalination and water management companies could be fierce. Additionally, the success of this venture heavily depends on Crown's ability to navigate local regulations, secure contracts and deliver results consistently across diverse geographical and political environments. While the opportunity is there, execution risks are substantial.
LOS ANGELES, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading smart glass technology company and an expert in constructing fiber optic networks and lead pipe inspection and remediation, today released the following letter to its shareholders.
Dear Fellow Shareholders,
I wanted to write you today to provide an update on our project in Cabo San Lucas Mexico, where we were previously selected to install two "slant wells" for Vista Serena. This project is unique because, with our proprietary design, these will be the first wells of their kind. Our process allows coastal communities that have difficulty obtaining water through traditional drilling methods to intake a large volume of water efficiently. Although there are still certain limiting subsurface factors, this new technique is very versatile and can be adapted to many different environments.
Traditionally, areas with poor quality aquifers were unable to extract seawater through vertical beach wells. We uniquely provide a solution to many projects that have exhausted traditional methods. Our process allows for a more economical and efficient intake of water, with far fewer environmental impacts than a direct sea intake. Once we run the geophysics on a site, we are able to determine if the particular area is suitable to use our process, or if we may need modify it.
This process for slant wells has unlocked extraordinary growth potential for Crown, with many developers having already been in contact with our team. These developers, many who had previously been forced to abandon projects due to the inability to get a reliable water source, now have a solution. We are changing the way that landowners, resort operators, developers, and municipalities view the water crisis in the Baja Peninsula. We look forward to leveraging our process and know how to continue to expand our footprint, bringing our solution to places like the Virgin Islands, Latin America, Africa, the South Pacific, and the Middle East. Crown believes that our approach to slant wells could add approximately
Jason Erickson, Chief Operating Officer and Executive VP of TSG Water states, "We are very excited that Crown has brought this technology to the Baja Peninsula, where finding sources of reliable feed water for the production of potable water is becoming increasingly more difficult.”
As always, it is our team's primary goal to maximize profitability. That said, in this case, we are proud to do so while also enhancing the lives of those around us. Many struggling communities where these wells will be constructed are severely disadvantaged and underserved. We aim to be a positive driving force of needed innovation that provides them with economic growth and opportunity, as well as increasing their access to our most important resource, clean water.
Sincerely,
Doug Croxall
Chairman and CEO
About Crown Electrokinetics
Crown is comprised of four divisions, Fiber Optics, Electrokinetics Film, Element 82, and PE Pipelines. Crown’s Fiber Optics division is a builder of underground fiber optic networks as well as other utility infrastructure projects. The Electrokinetics Film division is a smart glass technology and the creator of our Smart Window Insert based on its patented electrokinetic film. Element 82 is a water pipeline inspection service provider focused on lead detection and condition assessment. PE Pipelines is a pipe repair, replacement, and lead pipe remediation specialty contractor.
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 Contact:
IR Email: info@crownek.com
SOURCE: Crown Electrokinetics Corp.
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