Welcome to our dedicated page for Crown Electr news (Ticker: CRKN), a resource for investors and traders seeking the latest updates and insights on Crown Electr stock.
Crown Electrokinetics Corp. (CRKN) uses its news releases to highlight developments across its Smart Windows and Construction businesses, as well as important corporate and capital markets events. Readers of this news feed can follow how Crown presents its role as an infrastructure solutions provider focused on fiber optics, water service lines, water intake solutions, XXL pipelines, and Smart Windows technology.
The company’s construction-related updates have included contract wins and project milestones in Crown Fiber Optics, Element 82, and water intake solutions. For example, Crown has reported multi-year fiber infrastructure contracts and a growing portfolio of contracts and backlog for Crown Fiber Optics, along with rural broadband projects in regions such as the Pacific Northwest and work with regional and privately held internet service providers. Other releases describe lead service line inspection projects under Element 82 and progress on slant wells and planned reverse osmosis facilities in Mexico.
Financial and strategic news items cover quarterly and full-year results, commentary on revenue growth from infrastructure contracts, and management’s discussion of shifting from rapid growth to what it calls smart growth. Corporate governance and capital markets announcements include leadership changes, board appointments, changes in the independent registered public accounting firm, Nasdaq delisting determinations, appeals and reconsideration efforts, and the company’s intention to voluntarily delist from Nasdaq while trading on the OTC market.
In addition, Crown has announced an Agreement and Plan of Merger involving a tender offer that is intended to result in Crown becoming a wholly owned subsidiary of an acquiring entity, as well as subsequent amendments to that agreement. By reviewing this news stream, investors and observers can see how Crown communicates about its infrastructure contracts, Smart Windows development, trading status, and merger-related activity over time.
Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced that its PE Pipelines division has secured two contracts valued at $33 million for lead pipe remediation. The work is scheduled to begin in January 2025. This marks the company's first project in lead pipe remediation and the first project for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes carry drinking water to American taps, with the National Resources Council estimating up to 12.8 million pipes. Crown's CEO, Doug Croxall, stated that this contract demonstrates the caliber of their team and their ability to execute, emphasizing that they believe they have only scratched the surface of this market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced that its Element 82 division has secured a $10 million contract for lead pipe inspection, set to begin in late October. This contract adds to Crown's growing pipeline of work, addressing the critical need for lead pipe inspection in approximately 13 million homes across the United States.
The company's turnkey solution aims to tackle the widespread issue of lead in drinking water pipes, with estimates ranging from 9.2 to 12.8 million lead pipes in the country. Element 82 has already initiated projects in New York, Virginia, and Florida, including completed work in the Town of Medley, FL, and ongoing projects in Batavia and Oneonta, NY. Additional projects are scheduled to begin later this year in Little Falls and Warwick, NY.
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.