Crown Electrokinetics Corp. - CRKN STOCK NEWS

Crown Electrokinetics Corp. (NASDAQ:CRKN) has reiterated its Q3 2024 revenue guidance of $8 million, representing a 70% sequential increase. The company has made significant progress in its Film Division, overcoming hurdles in the Dynamic Tint™ film mastering technology. Crown is preparing for a three-phase product rollout strategy for its Smart Window Inserts:

1. Gen 1 Alpha: Targeted delivery to select customers in major US cities in the coming months.
2. Gen 1 Beta: Release in H1 2025 with additional features and integrated control ecosystem.
3. Charlie phase: Establish scalable manufacturing capability in H2 2025.

The company anticipates a full product release in 2026. CEO Doug Croxall expressed satisfaction with the progress and looks forward to providing regular updates on the rollout progress.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has provided an update on its innovative slant well project in Cabo San Lucas, Mexico. The company's proprietary design allows for efficient water intake in coastal communities with poor quality aquifers. This technology offers a more economical and environmentally friendly alternative to traditional drilling methods and direct sea intakes.

Crown's process has garnered interest from developers who previously abandoned projects due to unreliable water sources. The company anticipates that its slant well approach could generate approximately $20 million in revenue over the next 15 months. Crown aims to expand its footprint to other regions facing water scarcity, including the Virgin Islands, Latin America, Africa, the South Pacific, and the Middle East.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced new lead detection service projects in Florida and New York through its Element 82 division. The company will conduct water service line inspections to locate lead pipes as mandated by the EPA's Lead and Copper Rule Revisions. Element 82 is working as an exclusive subcontractor to Electro Scan Inc., using the SWORDFISH technology for non-invasive pipe material identification.

Work has begun in Medley, Florida, an industrial community with 1,800 businesses and 1,100 residents. Four projects have also started in New York, including the cities of Batavia, Little Falls, Oneonta, and the Village of Warwick. These efforts align with New York's Lead Pipe Right to Know Act, requiring public water systems to make service line inventory information available to the public.

Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its Q2 2024 financial results, showcasing significant growth. Key highlights include:

- Revenue of $4.6 million, up 582% from Q1 2024
- Reiterated Q3 revenue guidance of $8.0 million
- Eliminated all investment debt and preferred equity
- Launched new divisions: Element 82 and PE Pipelines
- Regained NASDAQ compliance

Despite the revenue increase, the company reported a net loss of $5.0 million for Q2. Crown's CEO, Doug Croxall, expressed optimism about the company's positioning for the second half of 2024 and value creation in 2025.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has formed two new divisions: Element 82 for lead pipe inspection and PE Pipelines for lead pipe remediation. The company aims to address the significant problem of lead in drinking water pipes across the United States. Element 82 has partnered with Chuck Hansen's Electro Scan Inc. to utilize the Swordfish technology, a revolutionary tool for detecting pipe materials without excavation.

Crown has appointed industry experts to lead these divisions, including Chuck Hansen as Chief Advisor Lead Pipe Assessment and David Kinsella as President of Element 82 and PE Pipelines. The company has already begun projects in New York, Virginia, and Florida, with plans to announce purchase orders and revenue targets soon. To incentivize the new team, Crown has granted RSUs to key personnel, subject to business milestone-based vesting.

Crown Electrokinetics Corp. (NASDAQ: CRKN), a leading smart glass technology company and expert in fiber optic network construction, has announced its second quarter 2024 conference call scheduled for August 14, 2024, at 12:00 PM ET. The call will feature remarks from Crown's management team and provide an opportunity for participants to engage with the company's latest developments.

Interested parties can join the conference call via phone or webcast. The dial-in numbers are 1-877-451-6152 (US) or 1-201-389-0879 (International), with the Conference ID: 13747919. Alternatively, participants can access the webcast through a provided link or use the Call me™ feature for instant telephone access. A replay of the call will be available afterwards using the access ID: 13747919.

Crown Electrokinetics Corp. (NASDAQ:CRKN), a smart glass technology company and fiber optic network expert, has regained compliance with Nasdaq's minimum bid price requirement. The company received a notification letter from Nasdaq's Listing Qualifications Department on July 25, 2024, confirming its compliance with Nasdaq Listing Rule 5550(a)(2). This development ensures Crown's continued listing on the Nasdaq Stock Market, which is important for maintaining investor confidence and market visibility.

Crown Electrokinetics Corp. (NASDAQ:CRKN) has been awarded an additional segment under its current agreement in Nevada, extending its ongoing large backbone long haul fiber project. This new work complements the existing project, which involves horizontal drilling and plowing. Crown had previously secured two "clusters" expected to generate approximately $5.7 million in gross revenues.

Corey Boaz, President of Construction for Crown Fiber Optics, emphasized that this additional award reflects the quality of work the company provides and its commitment to exceeding customer expectations. He also noted that Crown's pipeline is growing through both new and repeat business, having earned customer trust.

Crown Electrokinetics has announced an expansion of its fiber optic network operations in Arizona, Nevada, and Oregon. This move is facilitated through a new contracting agreement with Paramount Networks, which holds a Master Service Agreement with 19 major telecommunications and cable operators in the U.S. The work in Arizona will soon begin for a significant cable provider and will include horizontal directional drilling, aerial plant construction, and fiber placement and splicing. In Oregon, Crown will undertake turnkey fiber optic network construction. As a result of these new projects, Crown has revised its third-quarter revenue guidance from $7-8 million to $8-9 million.