Crown’s Element 82 Secures Key Role in Pittsburgh Water’s Lead Pipe Replacement Initiative
Rhea-AI Summary
Crown Electrokinetics (NASDAQ: CRKN) announced that its Element 82 division will play a important role in Pittsburgh Water's lead pipe replacement initiative. Through an exclusive partnership with Electro Scan Inc., Element 82 will deploy SWORDFISH technology to inspect water service lines for 1,600 homes as part of PGH2O's Neighborhood Lead Service Line Replacement program.
SWORDFISH, recognized by the EPA in December 2024 as the only commercially available solution for accurate lead pipe identification, uses electrical resistance testing to detect various pipe materials including lead, copper, galvanized, and plastic pipes. The technology provides non-invasive and non-destructive inspection capabilities with superior accuracy compared to traditional methods.
Positive
- Secured contract for inspecting 1,600 homes in Pittsburgh's lead pipe replacement program
- Exclusive partnership with Electro Scan Inc. for SWORDFISH technology deployment
- EPA recognition as only commercial solution for accurate lead pipe identification
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CRKN declined 12.12%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, Jan. 29, 2025 (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 Element 82 division has secured a key role in Pittsburgh Water’s (PGH2O) lead pipe replacement initiative through its exclusive service partnership with Electro Scan Inc.
Element 82 will deploy Electro Scan’s SWORDFISH technology to inspect all water service lines for 1,600 homes as part of PGH2O’s Neighborhood Lead Service Line Replacement program. SWORDFISH uses advanced electrical resistance testing to deliver unparalleled accuracy in identifying lead pipes, offering a solution that is both non-invasive and non-destructive.
"This project reflects the growing recognition of Element 82’s ability to address one of the most pressing public health challenges of our time," David Kinsella, President, Element 82. "By leveraging Electro Scan’s SWORDFISH technology, we are setting new industry standards for accuracy, efficiency, and innovation in lead pipe detection. We are proud to play an important role in projects like these, which prioritize community health and environmental sustainability."
SWORDFISH technology was recognized by the U.S. Environmental Protection Agency in December 2024 as the only commercially available solution capable of accurately identifying lead water pipes. Its ability to detect a range of materials, including lead, copper, galvanized, and plastic pipes, sets it apart from traditional methods that often miss key details.
"Element 82 is at the forefront of transforming how we approach infrastructure challenges. As communities across the U.S. work to eliminate lead service lines, our technology and expertise position us as a trusted partner to deliver meaningful results," concluded Mr. Kinsella.
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, Construction, 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
FAQ
What is the scope of CRKN's Pittsburgh Water lead pipe inspection contract?
When did the EPA recognize CRKN's SWORDFISH technology for lead pipe detection?
What types of pipes can CRKN's SWORDFISH technology detect?
How does CRKN's SWORDFISH technology identify lead pipes?
