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Crown ElectroKinetics Corp is a provider of DynamicTint. The company's technology allows any glass surface to transition between clear and dark in seconds. DynamicTint allows windows to transition from transparent to black. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, Crown partners with glass and film manufacturers for mass production and distribution. Its technology is a thin film that is powered by an electrically-charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. It is supported by a robust patent portfolio.
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.
Crown Electrokinetics, a leader in smart glass technology and fiber optic network construction, announced leadership changes effective July 8, 2024, to enhance its market capabilities and product launch acceleration.
Tim Koch, co-founder and former CTO, will transition to Chief Innovation Officer to focus on delivering electrokinetic film and expanding the product portfolio.
Robert Vandal, with over 30 years in product development and manufacturing in the glass industry, will take over as CTO, bringing his expertise from Guardian Glass where he led significant advancements.
Francois Prouhet will join as Director of Business Development, leveraging his experience from Guardian Industries and Cars.com to develop Crown's go-to-market strategy and business partnerships.
Both new appointees received inducement RSU awards, with vesting based on agreed business milestones.
Crown Electrokinetics (NASDAQ:CRKN) issued a letter to shareholders providing key updates on their Nasdaq listing compliance, operational progress, and financial outlook. To meet Nasdaq's compliance, Crown executed a 1:150 reverse stock split. They highlighted strong growth in their Fiber Optics division, delivering production in multiple states and expanding into new markets like Idaho and Oregon. The company anticipates second-quarter revenues between $3.5M and $4M and third-quarter revenues between $7M and $8M due to backlog orders. Progress continues in their Electrokinetic Film division, with an Alpha Gen 1 product expected by fall 2024. Additional updates on executive additions and product milestones are forthcoming.
Crown Electrokinetics Corp (NASDAQ: CRKN), a leader in smart glass technology and fiber optic networks, announced the commencement of its Crown Fiber Optics division's work in Oregon. The projects involve both fiber construction and underground power infrastructure for four new customers. Crown anticipates generating up to $8 million in revenue from these contracts in 2024, with potential growth to $15 million in 2025. The projects will include directional drilling, excavation, micro trenching, and splicing. Corey Boaz, President of Construction for Crown Fiber Optics, highlighted the opportunities for diversification across the west coast and praised the team's efforts.
Crown Electrokinetics Corp. (NASDAQ:CRKN), known for its smart glass technology and fiber optic network construction, announced an expanded project with an existing customer in Idaho.
The expanded scope involves horizontal directional drilling and fiber to the home, growing from two drills to seven. This expansion positions Crown as the preferred contractor for both residential fiber projects and installations for school districts in the Boise area.
The company anticipates further expansion later this year, underscoring their commitment to customer satisfaction.
Crown Electrokinetics Corp. (NASDAQ:CRKN) announced a 1-for-150 reverse stock split, set to begin trading on a split-adjusted basis on June 25, 2024. Approved by the Board on June 12, 2024, and by stockholders on June 14, 2024, this split will convert every 150 shares of issued common stock into one share. No fractional shares will be issued; instead, they'll be rounded up to the next whole number. The split will not alter any stockholder's percentage interest in the company's common stock. The new CUSIP number for the adjusted shares will be 228339404, and trading will continue under the symbol 'CRKN'.
Crown Electrokinetics Corp. (NASDAQ:CRKN) has announced a new dark fiber construction project from Las Cruces, New Mexico, to El Paso, Texas.
The project, spanning approximately 250 miles, is anticipated to generate around $12 million in gross revenue. Crown Fiber Optics will serve as a turnkey general contractor, performing tasks including survey, construction, fiber placement, and splicing.
The project is scheduled to start in mid-June and is based on a time and materials contract, reducing risk and enabling margin control. This marks Crown's first project with Sequoia Associates and bolsters its position in the market.
CEO Doug Croxall expressed confidence in the scalability and revenue potential of this and other contracts.
Crown Electrokinetics (NASDAQ:CRKN), a leader in smart glass technology and fiber optic network construction, has announced its first quarter 2024 conference call on May 15, 2024, at 12:00 PM ET. The call will feature remarks from the management team and can be accessed via a dial-in number or webcast. Participants are advised to log in 5-10 minutes before the start time. Replay options are available with specific dial-in numbers and access IDs.
Crown Electrokinetics Corp. (NASDAQ:CRKN) has secured a fiber construction project in Idaho with Fat Beam Fiber, expanding its presence in the smart glass technology and fiber optic networks industry. The project is expected to drive additional work in California and Oregon, showcasing the company's capabilities in delivering high-quality projects on time.
Crown Electrokinetics Corp. (NASDAQ:CRKN) announced securing a large fiber optic project in Nevada, generating $5.7 million in gross revenues. The project involves horizontal drilling and plowing work, with completion expected in the third quarter. The company anticipates further stages in California, showcasing growth and expansion.
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