Welcome to our dedicated page for Cleantek Industries news (Ticker: GLKFF), a resource for investors and traders seeking the latest updates and insights on Cleantek Industries stock.
Cleantek Industries Inc (GLKFF) delivers innovative clean technology solutions for industrial wastewater treatment and sustainable energy systems. This news hub provides investors and industry professionals with essential updates on operational milestones, technology deployments, and strategic initiatives.
Access real-time information about Cleantek's patented ZeroE wastewater dehydration systems, Solar Hybrid lighting solutions, and international expansion efforts. Our curated news collection features earnings reports, partnership announcements, and technology validation updates from key markets including North America and the Middle East.
Key coverage areas include:
• Waste heat utilization projects
• Sustainable lighting deployments
• Carbon intensity reduction initiatives
• Strategic asset conversions
Bookmark this page for centralized access to Cleantek's environmental technology developments. Check regularly for updates on operational efficiency improvements and market expansion activities that drive long-term value creation.
Cleantek Industries Inc. (TSXV: CTEK) announced its Q2 2024 financial results, reporting revenue of $2,411, a 29% decrease from Q2 2023. The company faced challenges due to lower activity levels and fleet utilization. Key highlights include:
- Gross profit of $1,285 (53% of revenue)
- Net loss of $511, an improvement from $687 in Q2 2023
- Adjusted EBITDA of $259, down from $903 in Q2 2023
Cleantek secured a new BDC manufacturing financing facility of up to $4,000 for equipment production. The company also appointed Riley Taggart as the new President and CEO, and announced a private placement to raise up to $150. Cleantek continues to focus on expanding its sustainable lighting solutions and wastewater treatment assets.
Cleantek Industries Inc. (TSXV: CTEK) has announced significant management changes and a private placement. Riley Taggart has been appointed as the new President and CEO, effective July 19, 2024. Taggart brings extensive experience from senior leadership roles in major energy service companies. He is expected to join the company's Board of Directors.
The company is also proposing a non-brokered private placement of units at $0.15 per unit, aiming to raise up to $150,000. Each unit consists of one common share and half a warrant. Taggart has agreed to subscribe for $100,000 of the placement. The participation of board members and Taggart in this placement aligns executive management, board, and shareholder interests.
Cleantek Industries announced its first quarter 2024 financial results, reporting revenue of $3,670K, a 4% decrease from Q1 2023. The decline was primarily due to lower HALO fleet utilization, partly offset by HALO lighting unit sales. Despite this, gross profit improved to $2,372K or 65% of revenue, compared to $2,301K or 60% in Q1 2023. Net income rose to $522K, up from $180K. Adjusted EBITDA fell slightly to $1,210K from $1,331K. The company is focusing on expanding its sustainable lighting and wastewater treatment solutions, launching new initiatives like SecureTek and GZeroE, and exploring international markets such as the Middle East.
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