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.
News and updates for Cleantek Industries Inc. (GLKFF) focus on its activities as a clean energy and environmental technology-based company. Through its TSX Venture Exchange listing under the symbol CTEK, Cleantek regularly issues news releases covering its wastewater treatment technologies, sustainable lighting rental solutions and broader corporate developments.
Investors following Cleantek’s news can expect coverage of quarterly financial and operational results, where the company discusses revenue trends, gross profit, EBITDA and adjusted EBITDA, as well as non-IFRS measures such as working capital and non-current debt. These updates often include commentary from management on equipment utilization, international growth and capital investment in its fleets of wastewater treatment and lighting assets.
Company news also highlights technology and product milestones, including deployments and contracts related to HALO and HALO SE Crown Mount lighting systems, SA75 stadium light towers, EcoSteam waste-gas powered wastewater treatment units and DZeroE waste heat water evaporation technology. Releases describe follow-on contracts, proof-of-concept trials and new regional deployments, such as EcoSteam units used in completions flowback operations in the Northeastern United States.
In addition, Cleantek reports on corporate and capital markets events, such as participation in investor conferences, changes of auditors, stock option grants, executive appointments and the engagement of company-sponsored research and investor marketing services. These items provide context on how the company presents its strategy, governance and growth plans to the market.
This news page aggregates those updates so readers can review Cleantek’s financial disclosures, technology progress, contract wins and governance changes in one place, using them as a reference for how the company is executing on its stated focus in wastewater management and sustainable industrial lighting.
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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