Crown’s Fiber Optics Division Adds Third Customer Expanding US Presence

Rhea-AI Summary

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced a significant agreement with a leading infrastructure solutions provider to expand its customer base and geographic coverage, particularly in the Southwest region. This multi-phased project is projected to generate up to $30 million in revenue, marking the company's third new customer acquisition in two months. Crown specializes in smart glass technology, distributed antenna systems, and fiber optic networks. CEO Doug Croxall expressed enthusiasm over the continuous expansion and upcoming projects. The forward-looking statements reflect management's expectations but are subject to various risks and uncertainties.

Positive

• New agreement with an infrastructure provider expands customer base.
• Potential revenue of up to $30 million from this project.
• Acquired third customer in two months, indicating strong growth.

Negative

• None.

Total Project Value Estimated at up to $30 Million with Leading Infrastructure Solutions Provider Expanding Crown’s Customer Base and Geographic Coverage to the Southwest Complementing Multi-State Operations Already in the Great Lakes and Northwest.

LOS ANGELES, March 27, 2023 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks, today announced that it has entered into an agreement with a leading infrastructure solutions provider.

Crown Fiber Optics new customer is a leading provider of engineering, construction, program and project management to the telecommunications and utility industries.

Doug Croxall, Crown Electrokinetics CEO and Chairman stated, “We are excited to announce the acquisition of our third customer, the second in as many months. We estimate that this multi-phased project may generate up to $30 million of revenue for Crown. We are continuing to expand not only within our existing customers’ footprint, but also by adding more customers in the near future.”

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of our Smart Window Insert and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks.

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

IR Email: info@crownek.com

Source: Crown Electrokinetics: www.crownek.com

FAQ

What recent agreement did Crown Electrokinetics announce?

Crown Electrokinetics announced an agreement with a leading infrastructure solutions provider, expanding its customer base.

What is the potential revenue from Crown's new project?

The multi-phased project could generate up to $30 million in revenue for Crown Electrokinetics.

How many new customers has Crown Electrokinetics acquired recently?

Crown has acquired three new customers in the last two months.

What sectors does Crown Electrokinetics operate in?

Crown operates in smart glass technology, distributed antenna systems, and fiber optic networks.

What is the stock symbol for Crown Electrokinetics?

The stock symbol for Crown Electrokinetics is CRKN.