Crown Electrokinetics secures $8 million in FTTH orders, expanding its fiber optics presence in Oregon.
Quiver AI Summary
Crown Electrokinetics Corp. has announced that its Fiber Optics division secured multiple purchase orders worth approximately $8 million from a regional fiber-optic internet provider in Oregon. This development strengthens Crown's relationship with the provider and expands its presence in the state. CEO Doug Croxall emphasized the importance of partnerships with established internet leaders to focus on delivering efficient fiber optic solutions that enhance community connectivity. The company is strategically positioned to meet the growing demand for high-capacity fiber optic networks in the U.S., which are seen as cost-effective solutions for operators. Crown's diverse business divisions aim to advance infrastructure technology while benefiting communities and the environment.
Potential Positives
- Crown Electrokinetics Corp. has received multiple Fiber-to-the-Home purchase orders valued at approximately $8 million, indicating strong demand for its fiber optic solutions.
- The new contracts strengthen Crown's relationship with a leading regional internet provider, enhancing its credibility and market presence in Oregon.
- By expanding its footprint in Oregon, Crown is actively contributing to the development of advanced fiber optic infrastructure, benefiting local communities.
- The growing demand for high-capacity fiber optic networks positions Crown well within the industry, allowing it to capitalize on new revenue opportunities.
Potential Negatives
- Dependence on a single regional fiber-optic internet provider for a significant portion of new revenue could pose risks if the partnership does not continue satisfactorily.
- Forward-looking statements highlight inherent uncertainties and risks regarding the company's future performance, which may create doubt among investors.
- The absence of information about competitive positioning or potential market challenges might lead to concerns about the company's ability to sustain its growth and profitability in a competitive environment.
FAQ
What recent development has Crown Electrokinetics announced?
Crown announced multiple Fiber-to-the-Home (FTTH) purchase orders worth approximately $8 million with a regional fiber-optic internet provider in Oregon.
How does Crown's Fiber Optics division benefit communities?
By expanding fiber optic infrastructure, Crown connects communities to high-capacity internet services, enhancing connectivity and technology access.
Who is the CEO of Crown Electrokinetics Corp.?
Doug Croxall is the CEO and Chairman of Crown Electrokinetics Corp.
Why is the demand for fiber optic networks increasing in the U.S.?
Fiber optic networks are seen as cost-effective solutions, offering multiple revenue streams for internet operators with a single investment.
What are Crown Electrokinetics' main business divisions?
Crown operates three divisions: Smart Windows, Fiber Optics, and Water Solutions, focusing on innovative infrastructure solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
LOS ANGELES, Dec. 04, 2024 (GLOBE NEWSWIRE) --
Crown Electrokinetics Corp.
(NASDAQ: CRKN) ("Crown" or the "Company")
, a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Fiber Optics division has been issued multiple Fiber-to-the-Home (FTTH) purchase orders with an approximate value of $8 million by a leading regional fiber-optic internet provider, further broadening its footprint in Oregon.
"As a trusted services partner for fiber optics, we continue to deepen our relationship with a leading regional internet provider in Oregon through additional purchase orders," said Doug Croxall, CEO and Chairman, Crown. "Partnering with established internet leaders allows us to focus on key territories, delivering scalable and efficient fiber optics solutions. By broadening our footprint in Oregon, we are helping to connect communities with cutting-edge fiber optic infrastructure."
"The demand for high-capacity fiber optic networks in the U.S. continues to grow, as they are increasingly viewed as the most cost-effective technology, providing operators multiple revenue streams from a single investment. Crown is well-positioned to capitalize on this demand through its fiber optics design and construction services, driving connectivity and innovation across key regions in the U.S.," concluded Mr. Croxall.
About Crown
Crown (Nasdaq: CRKN) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit
.
Forward Looking Statements
Certain statements in this news release may be "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown's future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown's Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations". 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.
For more information, please contact:
Investor Relations
info@crownek.com
