Crown Fiber Announces Expansion of Projects in Idaho

Rhea-AI Summary

Crown Electrokinetics Corp. (NASDAQ:CRKN), known for its smart glass technology and fiber optic network construction, announced an expanded project with an existing customer in Idaho.

The expanded scope involves horizontal directional drilling and fiber to the home, growing from two drills to seven. This expansion positions Crown as the preferred contractor for both residential fiber projects and installations for school districts in the Boise area.

The company anticipates further expansion later this year, underscoring their commitment to customer satisfaction.

Positive

• Expansion of project scope with existing customer in Idaho.
• Increase in drilling operations from two to seven drills.
• Recognition as the preferred contractor for residential and school district fiber installations in Boise area.
• Anticipation of further expansion later this year.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / June 24, 2024 / Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in constructing fiber optic networks, today announced that it expanded its current scope of work with an existing customer in Idaho.

The project encompasses horizontal directional drilling and fiber to the home. Currently the Company is utilizing two drills with the increase in scope increasing it to seven drills. The Company anticipates further expansion later in the calendar year. Crown is now not only the preferred contractor for all fiber to the home projects with this customer but has now been identified as the preferred contractor to assist in the installation of fiber optics to the school districts within the greater Boise area.

Corey Boaz, President of Construction for Crown Fiber Optics stated. "We are pleased to announce today's expansion of services with an existing customer in Idaho. Suffice it to say, we would not be awarded this additional opportunity if it were not for our unparalleled commitment to exceeding customer expectations."

About Crown Electrokinetics

Crown is comprised of two divisions, Fiber Optics and Electrokinetics Film. The Electrokinetics Film division is a smart glass technology and the creator of our Smart Window Insert based on its patented electrokinetic film. Crown's Fiber Optics division is a builder of underground fiber optic networks as well as other utility infrastructure projects.

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

View the original press release on accesswire.com

FAQ

What recent project expansion did Crown Electrokinetics announce?

Crown Electrokinetics announced an expansion of its project scope with an existing customer in Idaho, involving horizontal directional drilling and fiber to the home.

How many drills will Crown Electrokinetics use in the expanded project in Idaho?

Crown Electrokinetics will increase its drilling operations from two to seven drills for the expanded project in Idaho.

Which areas will Crown Electrokinetics cover with its expanded project in Idaho?

Crown Electrokinetics will cover residential fiber to the home projects and fiber installations for school districts within the greater Boise area.

When is Crown Electrokinetics expecting further expansion of its project in Idaho?

Crown Electrokinetics anticipates further expansion of its project later this calendar year.

What is the stock symbol for Crown Electrokinetics?

The stock symbol for Crown Electrokinetics is NASDAQ:CRKN.