Crown Expands Fiber Optics Services Footprint With Leading Regional Internet Provider in Oregon
Rhea-AI Summary
Crown Electrokinetics (NASDAQ: CRKN) has secured multiple Fiber-to-the-Home (FTTH) purchase orders valued at approximately $8 million from a leading regional fiber-optic internet provider in Oregon. This expansion strengthens Crown's presence in the region and demonstrates its growing role in delivering fiber optics infrastructure solutions.
The company aims to capitalize on the increasing U.S. demand for high-capacity fiber optic networks, which are recognized as a cost-effective technology offering multiple revenue streams from single investments. Through its fiber optics design and construction services, Crown is positioning itself to drive connectivity across key U.S. regions.
Positive
- Secured new purchase orders worth approximately $8 million
- Expanding market presence in Oregon region
- Partnership with established regional internet provider
Negative
- None.
News Market Reaction
On the day this news was published, CRKN declined 1.34%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, Dec. 04, 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 Fiber Optics division has been issued multiple Fiber-to-the-Home (FTTH) purchase orders with an approximate value of
“As a trusted services partner for fiber optics, we continue to deepen our relationship with a leading regional internet provider in Oregon through additional purchase orders,” said Doug Croxall, CEO and Chairman, Crown. “Partnering with established internet leaders allows us to focus on key territories, delivering scalable and efficient fiber optics solutions. By broadening our footprint in Oregon, we are helping to connect communities with cutting-edge fiber optic infrastructure.”
“The demand for high-capacity fiber optic networks in the U.S. continues to grow, as they are increasingly viewed as the most cost-effective technology, providing operators multiple revenue streams from a single investment. Crown is well-positioned to capitalize on this demand through its fiber optics design and construction services, driving connectivity and innovation across key regions in the U.S.,” concluded Mr. Croxall.
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
info@crownek.com
FAQ
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