Crown Fiber Optics Executes Agreement with the Twin Dolphin Club in Los Cabos, Mexico
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The agreement between Crown Electrokinetics Corp. and the Twin Dolphin Club signifies a strategic expansion of the company's service offerings into infrastructure related to desalination plants. This diversification could potentially open up new revenue streams and market segments for Crown, particularly in geographic regions with high demand for such services. The upfront payment of $1.2 million, with a total project value of $3.5 million, provides immediate cash flow, which is a positive signal to investors regarding the company's liquidity. Moreover, the anticipation of similar future projects suggests a sustainable growth trajectory, potentially increasing investor confidence in the company's long-term prospects.
The financial implications of the agreement for Crown Electrokinetics Corp. are multifaceted. An upfront payment enhances the company's short-term financial position, while the total project value contributes to its revenue pipeline. Investors should note the impact on the company's balance sheet and cash reserves, as these are crucial indicators of financial health. Additionally, the company's intention to provide financial guidance in the near future suggests forthcoming transparency regarding its financial performance, which could influence stock market activity. Stakeholders should monitor the stock's performance closely following the guidance announcement for any significant market reactions.
The construction of slant wells for a desalination plant represents Crown's commitment to innovative environmental solutions, which is increasingly important given global water scarcity issues. The success of this project could position Crown as a key player in the environmental technology sector, particularly in regions where water resources are limited. Investors might consider the environmental angle as a long-term value driver, as sustainable practices are likely to be rewarded by both consumers and regulators. However, the environmental impact of desalination and the energy consumption of such plants are factors that could affect public perception and regulatory policies in the future.
LOS ANGELES, CA / ACCESSWIRE / March 6, 2024 / Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in constructing fiber optic networks, today announced it has executed an agreement with the Twin Dolphin Club. Located in Los Cabos, The Twin Dolphin Club is a 1,400-acre resort master plan development.
Crown's Fiber Optics division, led by Corey Boaz, will construct slant wells for the desalination plant that provides fresh water from ocean water to the hotel and surrounding planned residential development.
The project is expected to start later this spring and conclude in the early fall time frame. The agreement calls for a
Doug Croxall, CEO of Crown said, "This agreement illustrates Crown Fiber Optics personnel and equipment are able to expand beyond traditional fiber work and into complementary verticals like electrical and irrigation work. The new approach to building slant wells should lead to new revenue opportunities in Mexico, Central America, and the Caribbean. Importantly, the agreement generates upfront cash and is anticipated to lead to other opportunities of a similar nature. With this agreement closed and more in the pipeline, we anticipate providing financial guidance as early as next week."
About Crown Electrokinetics
Crown is comprised of two divisions, Fiber Optics and Electrokinetics Film. The Electrokinetics Film division is a smart glass technology and the creator of our Smart Window Insert based on its patented electrokinetic film. Crown's Fiber Optics division is a builder of underground fiber optic networks as well as other utility infrastructure projects.
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
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