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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 Corp. (CRKN) announced an asset purchase agreement with Amerigen 7, which will enhance its smart glass technology offerings and enable the company to provide distributed antenna systems (DAS) and fiber optic networks. This acquisition is expected to contribute approximately $30 million in revenue and $10 million in EBITDA for 2023. Crown Fiber Optics, the rebranded Amerigen 7, has a signed purchase order for a $67 million project with Charter Communications, indicating strong growth potential in a market projected to reach $15.7 billion by 2030.
Crown Electrokinetics Corp. (CRKN) announced an acquisition of Amerigen 7, which will be rebranded as Crown Fiber Optics. This strategic move is expected to enhance Crown's offerings in distributed antenna systems and fiber optic infrastructure. The acquisition includes a $67 million purchase order from Charter Communications to expand their fiber optic network in Ohio, projected to generate $30 million in revenue and $10 million in EBITDA for 2023. The total cash outlay for acquiring Amerigen 7 is $645,000.
Crown Electrokinetics Corp. (NASDAQ: CRKN) urges shareholders to vote for management proposals outlined in its Form DEF 14A, filed with the SEC on November 25, 2022, ahead of the December 22, 2022 shareholder meeting. These proposals are essential for maintaining its listing on the Nasdaq Capital Market and funding future operations. Shareholders holding shares via brokers need their control number from the proxy card to vote. Crown specializes in smart glass technology, specifically DynamicTint™, which enables glass to change opacity swiftly, enhancing sustainability and reducing carbon emissions.
On November 11, 2022, Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its financial results for Q3 2022. Key highlights include a completed $4 million financing and advancements towards a $30 million debt facility. The company anticipates delivering its first-generation smart window inserts in Q1 2023. Restructuring efforts reduced operational costs by 24%, leading to a monthly cash burn rate of $0.7 million compared to $1.2 million prior to restructuring. Investors can access more information via the company's website.
Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its Q3 2022 financial results on November 11, 2022. The company experienced a net loss of $3.1 million, down from $5.7 million in Q3 2021. Operating expenses totaled $3.1 million. Crown raised $4 million in equity and is advancing towards a $30 million debt facility to support its first-generation smart window product and future manufacturing capabilities, with deliveries expected in Q1 2023. The company maintains a cash position of $0.3 million, aided by a $10 million standby letter of credit.
Crown Electrokinetics Corp. (NASDAQ: CRKN) will report its third quarter financial results for 2022 on November 11, 2022. A conference call featuring CEO Doug Croxall and CFO Joel Krutz will take place at 11:00 a.m. EST to discuss the results. Investors can participate by dialing in or via an audio webcast. Crown specializes in smart glass technology, offering DynamicTint™, which allows glass to transition between clear and dark quickly, presenting a sustainable alternative to traditional window treatments.
Crown Electrokinetics Corp. (NASDAQ: CRKN) has successfully closed a $4 Million private placement facilitated by Revere Securities. This funding is earmarked to support the company in delivering its first-generation product and for ongoing debt capital negotiations necessary for future manufacturing phases. Doug Croxall, CEO, emphasized the significance of this capital for the company's operational expansion.
Crown specializes in smart glass technology, known for its DynamicTint™, enabling glass to switch between clear and dark swiftly, offering a sustainable alternative to conventional window treatments.
Crown Electrokinetics Corp. (NASDAQ: CRKN) announced its intent to dual list shares on Upstream, a digital trading platform for securities and NFTs. This move aims to attract a broader, global investor base by enabling trading using USDC, credit, debit, and PayPal. CEO Doug Croxall emphasized the importance of enhanced liquidity for shareholders. Approval from MERJ is required for the listing, but Crown may qualify for expedited processing due to its current Nasdaq status. The dual listing is expected to improve price discovery and liquidity for investors.
Crown Electrokinetics Corp. (NASDAQ: CRKN) reported the successful closure of $4 million in new capital amid challenging market conditions for pre-revenue firms. This funding will facilitate the delivery of their first-generation smart glass product and support ongoing debt negotiations for future manufacturing phases. The company aims to capitalize on the projected smart glass market growth, estimated at $8.2 billion by 2027. Additionally, Crown is restructuring its board with new appointments to better align with its strategic goals and enhance overall governance.
Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced significant progress with two initial purchase orders of its Smart Window Inserts™ from Hudson Pacific Properties. These orders represent a milestone for the company and are set to be delivered following the launch of its first-generation production line this fall. The Smart Window Inserts™ aim to reduce HVAC energy costs and lower carbon footprints for existing buildings, addressing sustainability needs. The recently passed Inflation Reduction Act enhances tax incentives for retrofitting, potentially accelerating market adoption of Crown's technology.
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