Crown’s Element 82 Secures Two New Lead Pipe Inspection Projects in New York
Crown Electrokinetics (NASDAQ: CRKN) announced that its Element 82 division has secured two new lead pipe inspection projects in New York, expanding into Little Falls and Warwick. The company will utilize Electro Scan's Swordfish device for non-destructive lead identification. Element 82 has demonstrated significant growth with 12 crews operational and approximately 2,500 homes tested in Q4 2024. The expansion aligns with the EPA's Lead and Copper Rule Improvements initiative, addressing the estimated 9.2 million lead pipes still in use across the U.S.
Crown Electrokinetics (NASDAQ: CRKN) ha annunciato che la sua divisione Element 82 ha ottenuto due nuovi progetti di ispezione di tubi in piombo a New York, espandendosi a Little Falls e Warwick. L'azienda utilizzerà il dispositivo Swordfish di Electro Scan per l'identificazione non distruttiva del piombo. Element 82 ha dimostrato una crescita significativa con 12 squadre operative e circa 2.500 case testate nel quarto trimestre del 2024. L'espansione è in linea con l'iniziativa dell'EPA per il miglioramento delle norme sul piombo e rame, affrontando i circa 9,2 milioni di tubi in piombo ancora in uso negli Stati Uniti.
Crown Electrokinetics (NASDAQ: CRKN) anunció que su división Element 82 ha asegurado dos nuevos proyectos de inspección de tuberías de plomo en New York, expandiéndose a Little Falls y Warwick. La empresa utilizará el dispositivo Swordfish de Electro Scan para la identificación no destructiva de plomo. Element 82 ha demostrado un crecimiento significativo con 12 equipos operativos y aproximadamente 2,500 viviendas inspeccionadas en el cuarto trimestre de 2024. La expansión está alineada con la iniciativa de mejoras en la regla del plomo y cobre de la EPA, abordando los estimados 9.2 millones de tuberías de plomo todavía en uso en los EE. UU.
Crown Electrokinetics (NASDAQ: CRKN)은 Element 82 부서가 뉴욕에서 두 개의 새로운 수명관 검사 프로젝트를 확보했다고 발표했습니다. Little Falls와 Warwick로 확장되었습니다. 이 회사는 비파괴적으로 납을 식별하기 위해 Electro Scan의 Swordfish 장치를 사용할 것입니다. Element 82는 12개의 작업팀이 운영되며 2024년 4분기에 약 2,500가구가 테스트되고 있어 상당한 성장을 보여주었습니다. 이번 확장은 미국 전역에서 여전히 사용 중인 약 920만 개의 납관을 다루는 EPA의 납 및 구리 규정 개선 이니셔티브와 일치합니다.
Crown Electrokinetics (NASDAQ: CRKN) a annoncé que sa division Element 82 a obtenu deux nouveaux projets d'inspection de tuyaux en plomb à New York, s'étendant à Little Falls et Warwick. L'entreprise utilisera le dispositif Swordfish d'Electro Scan pour l'identification non destructive du plomb. Element 82 a montré une croissance significative avec 12 équipes opérationnelles et environ 2 500 maisons testées au quatrième trimestre 2024. L'expansion s'aligne avec l'initiative de la EPA pour l'amélioration des règles sur le plomb et le cuivre, s'attaquant aux 9,2 millions de tuyaux en plomb encore en usage à travers les États-Unis.
Crown Electrokinetics (NASDAQ: CRKN) gab bekannt, dass ihre Abteilung Element 82 zwei neue Projekte zur Inspektion von Bleirohren in New York gesichert hat, die sich auf Little Falls und Warwick ausdehnen. Das Unternehmen wird das Swordfish-Gerät von Electro Scan zur nicht destruktiven Erkennung von Blei einsetzen. Element 82 hat ein erhebliches Wachstum gezeigt, mit 12 operativen Teams und rund 2.500 getesteten Haushalten im vierten Quartal 2024. Die Expansion steht im Einklang mit der Initiative der EPA zur Verbesserung der Vorschriften über Blei und Kupfer und befasst sich mit den geschätzten 9,2 Millionen Bleirohren, die weiterhin in den USA in Gebrauch sind.
- Secured two new contracts in New York state
- Tested approximately 2,500 homes in Q4 2024
- Operating with 12 crews, showing operational scale
- Large market opportunity with 9.2M lead pipes nationwide
- None.
Insights
While Crown's Element 82 is expanding its presence in New York with these new lead pipe inspection projects, the announcement lacks important financial details about contract values or revenue impact. The scale of operations with 12 crews and 2,500 homes tested in Q4 2024 shows operational progress, but without monetary figures, it's difficult to assess the material impact on the company's
The deployment of Electro Scan's Swordfish technology for non-destructive lead detection represents an efficient approach to infrastructure assessment. The expansion into Little Falls and Warwick demonstrates growing market acceptance of Crown's inspection capabilities. However, while the company is positioned to capitalize on the EPA's lead pipe regulations, the announcement doesn't specify project timelines, scope, or contract values. The completion of 2,500 home inspections in Q4 shows operational capability, but without financial metrics or project margins, the impact remains uncertain in the broader context of infrastructure modernization initiatives.
LOS ANGELES, Dec. 17, 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 Element 82 division has secured two new lead pipe inspection projects in New York. With completed and active projects in the state of New York, Element 82 is expanding its lead inspection footprint into the city of Little Falls and town of Warwick.
“Securing these new projects reflects our unwavering commitment to tackling lead pipe inspection,” said David Kinsella, President, Element 82 & PE Pipelines. “We will deploy cutting-edge detection technology, Electro Scan’s Swordfish device, to perform non-destructive and non-invasive identification of lead. We are proud to continue partnering with the state of New York to identify and address critical water infrastructure challenges, ensuring safer drinking water for its residents.”
Crown’s Element 82 continues to serve as a leading provider of lead identification services for local municipalities. With over 9.2 million lead pipes still estimated to be in use across the U.S., the opportunity to support the U.S. Environmental Protection Agency’s (EPA) Lead and Copper Rule Improvements (LCRI) remains significant.
“Element 82’s operations are scaling rapidly, with 12 crews on the road and approximately 2,500 homes tested in the fourth quarter of 2024 alone. This momentum positions Element 82 for continued growth in 2025, as demand for reliable lead identification solutions continues to rise,” 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, 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.
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FAQ
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What technology does CRKN use for lead pipe inspection?
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