Crown Strengthens Leadership Team with Appointment of Andrew Mayer as President of Crown Construction
Crown Electrokinetics (NASDAQ: CRKN) has appointed Andrew Mayer as President of Crown Construction, effective immediately. Mayer brings over 45 years of pipeline industry experience and will lead the company's newly established Construction Division, focusing on fiber optics services, lead pipe detection, and XXL diameter pipeline solutions.
Mayer's extensive background includes significant contributions at British Gas, where he helped develop technologies for replacing 10 billion feet of gas pipelines. As former President of Murphy Pipelines, he pioneered trenchless technologies and CompressionFit HDPE methods. Crown will now offer XXL diameter HDPE pipeline solutions exceeding 54 inches, positioning itself as the only U.S. contractor with fusion plates capable of welding HDPE pipes into miles-long pipelines.
As part of his appointment, Mayer will receive RSUs valued at approximately $4.5 million as an inducement equity award, with a four-year vesting schedule starting with a 25% cliff vest after one year.
Crown Electrokinetics (NASDAQ: CRKN) ha nominato Andrew Mayer come Presidente di Crown Construction, con effetto immediato. Mayer porta con sé oltre 45 anni di esperienza nel settore dei pipeline e guiderà la nuova Divisione Costruzioni dell'azienda, concentrandosi sui servizi di fibra ottica, rilevamento di tubi in piombo e soluzioni per pipeline di grande diametro XXL.
Il background di Mayer include significativi contributi presso British Gas, dove ha aiutato a sviluppare tecnologie per la sostituzione di 10 miliardi di piedi di tubazioni a gas. Come ex Presidente di Murphy Pipelines, è stato pioniere nelle tecnologie senza scavo e nei metodi CompressionFit HDPE. Crown offrirà ora soluzioni di pipeline HDPE di grande diametro superiori a 54 pollici, posizionandosi come l'unico appaltatore statunitense con piastre di fusione in grado di saldare tubi HDPE in pipeline lunghe diversi chilometri.
Come parte della sua nomina, Mayer riceverà RSU del valore di circa 4,5 milioni di dollari come incentivo azionario, con un programma di maturazione di quattro anni che inizia con un cliff del 25% dopo un anno.
Crown Electrokinetics (NASDAQ: CRKN) ha nombrado a Andrew Mayer como Presidente de Crown Construction, con efecto inmediato. Mayer cuenta con más de 45 años de experiencia en la industria de tuberías y liderará la nueva División de Construcción de la empresa, centrándose en servicios de fibra óptica, detección de tuberías de plomo y soluciones de tuberías de gran diámetro XXL.
El amplio historial de Mayer incluye contribuciones significativas en British Gas, donde ayudó a desarrollar tecnologías para reemplazar 10 mil millones de pies de tuberías de gas. Como ex Presidente de Murphy Pipelines, fue pionero en tecnologías sin zanja y en métodos CompressionFit HDPE. Crown ofrecerá ahora soluciones de tuberías HDPE de gran diámetro que superan las 54 pulgadas, posicionándose como el único contratista estadounidense con placas de fusión capaces de soldar tubos HDPE en tuberías de varios kilómetros de longitud.
Como parte de su nombramiento, Mayer recibirá RSUs valoradas en aproximadamente $4.5 millones como incentivo de capital, con un calendario de adquisición de cuatro años que comienza con un cliff del 25% después de un año.
Crown Electrokinetics (NASDAQ: CRKN)는 Andrew Mayer를 Crown Construction의 사장으로 즉시 임명하였습니다. Mayer는 파이프라인 산업에서 45년 이상의 경험을 가지고 있으며 회사의 새로 설립된 건설 부문을 이끌어 갈 것입니다. 그는 광섬유 서비스, 납 파이프 탐지 및 XXL 직경의 파이프라인 솔루션에 집중할 것입니다.
Mayer의 폭넓은 배경에는 British Gas에서 100억 피트의 가스 파이프라인을 교체하기 위한 기술 개발에 기여한 중요한 경험이 포함됩니다. Murphy Pipelines의 전 사장으로서, 그는 무굴착 기술 및 CompressionFit HDPE 방법을 개척했습니다. Crown은 이제 54인치를 초과하는 XXL 직경의 HDPE 파이프라인 솔루션을 제공하여, HDPE 파이프를 여러 마일에 걸쳐 용접할 수 있는 융합 플레이트를 갖춘 유일한 미국 계약자로 자리매김하게 됩니다.
그의 임명에 따른 혜택으로 Mayer는 약 450만 달러 가치의 RSU를 유인 보상으로 받게 되며, 이는 4년의 분할 일정에 따라 1년 후에 25%의 클리프가 시작됩니다.
Crown Electrokinetics (NASDAQ: CRKN) a nommé Andrew Mayer au poste de Président de Crown Construction, avec effet immédiat. Mayer possède plus de 45 ans d'expérience dans l'industrie des tuyaux et dirigera la nouvelle Division Construction de l'entreprise, en se concentrant sur les services de fibre optique, la détection de tuyaux en plomb et les solutions de pipelines de diamètre XXL.
Le parcours de Mayer inclut des contributions significatives chez British Gas, où il a aidé à développer des technologies pour le remplacement de 10 milliards de pieds de pipelines gaziers. En tant qu'ancien Président de Murphy Pipelines, il a été un pionnier des technologies sans tranchée et des méthodes CompressionFit HDPE. Crown proposera désormais des solutions de pipelines HDPE de grand diamètre dépassant 54 pouces, se positionnant ainsi comme le seul entrepreneur américain capable de souder des tuyaux HDPE en pipelines de plusieurs kilomètres grâce à des plaques de fusion.
Dans le cadre de sa nomination, Mayer recevra des RSU d'une valeur d'environ 4,5 millions de dollars en tant que prime d'incitation, avec un calendrier d'acquisition de quatre ans débutant par un cliff de 25 % après un an.
Crown Electrokinetics (NASDAQ: CRKN) hat Andrew Mayer mit sofortiger Wirkung zum Präsidenten von Crown Construction ernannt. Mayer bringt über 45 Jahre Erfahrung in der Pipeline-Industrie mit und wird die neu gegründete Bauabteilung des Unternehmens leiten, wobei der Fokus auf Dienstleistungen für Glasfaser, Erkennung von Bleirohren und XXL-Durchmesser-Pipelinelösungen liegt.
Mayes umfangreiche Erfahrung umfasst bedeutende Beiträge bei British Gas, wo er half, Technologien für den Austausch von 10 Milliarden Fuß Gasleitungen zu entwickeln. Als ehemaliger Präsident von Murphy Pipelines war er Pionier in grabenlosen Technologien und CompressionFit HDPE-Methoden. Crown wird nun XXL-Durchmesser-HDPE-Pipelinelösungen anbieten, die 54 Zoll überschreiten, und sich als der einzige amerikanische Auftragnehmer positionieren, der mit Schmelzplatten in der Lage ist, HDPE-Rohre zu Meilen langen Pipelines zu schweißen.
Im Rahmen seiner Ernennung erhält Mayer RSUs im Wert von etwa 4,5 Millionen Dollar als Anreizaktien, mit einem vierjährigen Vesting-Plan, der mit einem Cliff von 25 % nach einem Jahr beginnt.
- Expansion into XXL diameter HDPE pipeline solutions market as the only U.S. contractor with specific fusion plate capabilities
- Strategic acquisition of industry veteran with 45+ years experience
- Establishment of new Construction Division expanding service offerings
- Significant equity compensation package of $4.5M in RSUs may lead to future dilution
Mr. Mayer Brings Over 45 Years Pipeline Industry Experience with an Expertise in XXL Diameter Pipelines
Crown Establishes Construction Division Offering Fiber Optics, Lead Pipe Detection and XXL Pipeline Solutions
LOS ANGELES, Jan. 24, 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 the appointment of Andrew (“Andy”) Mayer as President of Crown Construction, effective immediately. This strategic hire reflects Crown’s commitment to deliver innovative solutions for critical infrastructure challenges. Under Mr. Mayer’s management, Crown’s Construction Division will provide fiber optics services, Element 82’s lead pipe detection, and XXL diameter pipeline solutions.
Andy Mayer is a seasoned pipeline industry expert with over 45 years of experience in consulting, design, and construction of utility systems across Europe, Asia, the Middle East, and North America. As a key member of British Gas, Mr. Mayer contributed to the development of cutting-edge technologies and program management for the replacement of 10 billion feet of gas pipelines.
Most recently, Mr. Mayer served as President of Murphy Pipelines, where he pioneered the advancement of trenchless technologies, including static pipe bursting, slip lining, and CompressionFit high-density polyethylene (HDPE) methods. These techniques are widely recognized as environmentally sustainable and minimally disruptive solutions for infrastructure rehabilitation. Mr. Mayer’s work has directly contributed to the successful rehabilitation of millions of feet of pipelines across North America.
He also brings significant disaster recovery experience, having played a key role in the rehabilitation efforts following Hurricane Katrina, Hurricane Irma, and the aftermath of 9/11. Mr. Mayer’s ability to manage complex projects under extraordinary circumstances underscores his leadership capabilities.
With Mr. Mayer’s appointment, Crown will now offer XXL diameter HDPE pipeline solutions, with diameters exceeding 54 inches. These HDPE pipes are essential for infrastructure rehabilitation due to their exceptional durability, corrosion resistance, and earthquake-proof capabilities. Tested to last over 100 years, they offer greater flow capacity than traditional concrete pipes and can be produced in diameters of up to 3.5 meters. Crown is uniquely positioned as the only U.S. contractor equipped with fusion plates capable of welding sections of HDPE pipe into miles long pipelines. These innovative solutions address critical water infrastructure challenges, ensuring reliable and sustainable water delivery for communities.
“We are honored to have Andy join Crown,” said Doug Croxall, CEO and Chairman, Crown. “His pipeline industry experience is truly unparalleled, and his visionary leadership sets a new standard. Andy’s impressive track record in pipeline rehabilitation and trenchless technologies will be pivotal in advancing our mission to deliver innovative and sustainable solutions for utility infrastructure. His appointment highlights Crown’s commitment to excellence and industry leadership.”
"I am thrilled to join Crown and lead its Construction Division in redefining infrastructure standards," said Andy Mayer, President, Crown Construction. "Throughout my career in the pipeline industry, I’ve been committed to advancing technology and solutions to address large scale infrastructure projects. I’m eager to bring my expertise, and top-tier team to Crown to drive the division’s expansion. Together, we’ll tackle critical infrastructure challenges and redefine standards for reliability and performance."
“Crown recognizes the urgency of addressing California’s water challenges, especially considering President Donald Trump’s recent statement regarding plans for an executive order to make water more accessible in the state. With innovative solutions like XXL Diameter HDPE Pipelines, Crown is uniquely positioned to align with such initiatives, delivering sustainable infrastructure to meet the growing demands of California’s residents, agriculture, and ecosystem,” concluded Mr. Croxall.
In addition to his professional accomplishments, Mr. Mayer has received several prestigious accolades, including the PE Alliance Lifetime Achievement Award (2021), the Underground Construction Technology Association “Most Valuable Professional” Award (2010), and the AWWA Chairman’s Award (2002). He is widely regarded as an industry advisor, where he continues to shape best-in-class standards and practices.
As part of his appointment, Mr. Mayer will be granted Restricted Stock Units (RSU’s) with an expected value of approximately
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
ir@crownek.com
Public Relations
pr@crownek.com
FAQ
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