Clear Blue Technologies Launches Energy-as-a-Service for Wireless Power
May 22 2019 - 9:00AM
Clear Blue Technologies International Inc. (“Clear Blue” or “the
Company”) (TSXV:CBLU) (FRANKFURT:0YA) announced today the launch of
its Energy-as-a-Service (EaaS) for wireless power. This new
subscription-based service provides clean, wireless power for
critical systems such as off-grid street lights, telecommunications
systems and Internet of Things (IoT) devices.
Energy-as-a-Service is a fast-growing business
model within the power industry. This innovative alternative to
traditional, capital-intensive energy acquisition enables
commercial and industrial customers (C&I) to pay an annual
subscription for energy services. According to Navigant Research,
the annual global market for commercial and industrial
Energy-as-a-Service is estimated to reach $221.1 billion by
2026.1
“Just as cloud services like Amazon Web Services
transformed the IT industry, Energy-as-a-Service can transform the
power industry,” said Miriam Tuerk, CEO and co-founder of Clear
Blue. “EaaS enables organizations to move away from investing
capital and time into owned assets, while eliminating upfront costs
and the headaches that come with having to operate and manage power
systems. Clear Blue has the technology and expertise to become a
leader in off-grid EaaS, and our new EaaS offering moves us toward
that goal.”
Clear Blue’s Energy-as-a-Service meets the needs
of municipalities, telecom providers, and other businesses with
off-grid powered systems who were previously forced to own,
operate, and maintain these power systems. The markets for
Energy-as-a-Service include telecom, Smart City lighting, and other
IoT utility services and infrastructure.
Over 70% of new electricity connections will
rely on off-grid or mini-grid solutions in the next 10 years,
according to recent estimates.2 However, battery replacement
costs in off-grid systems are an ongoing consumable that can
represent the largest ongoing maintenance cost. The limited
warranties that battery manufacturers provide typically cover only
defects in material and workmanship with numerous exclusions due to
lack of maintenance, exposure to heat or cold, over or
under-charging and more. This renders warranties largely useless to
customers.
With Clear Blue’s Energy-as-a-Service, customers
pay a fixed annual service fee. Clear Blue uses its patented Smart
Off-Grid technology and expert service to manage charging cycles,
state of charge, and other aspects of power management that are key
to maximizing system life and uptime performance. This enables
Clear Blue to provide an unparalleled level of reliability to
assure power delivery.
“The Energy-as-a-Service offering is a key part
of Clear Blue’s commitment to its customers to deliver maximum
uptime, longest system life, and easy installation and maintenance.
The launch of our Energy-as-a-Service model will contribute toward
growth of our recurring revenue stream with the delivery of a
highly valuable service for our customers and a highly valuable
financial model for our shareholders,” added Ms. Tuerk.
About Clear Blue Technologies International
Clear Blue Technologies International, the Smart
Off-Grid™ company, was founded on a vision of delivering clean,
managed, “wireless power” to meet the global need for reliable,
low-cost, solar and hybrid power for lighting, telecom, security,
Internet of Things devices, and other mission-critical systems.
Today, Clear Blue has thousands of systems under management across
35 countries, including the U.S. and Canada. Clear Blue is
publicly traded on the Toronto Venture Exchange
under the symbol CBLU.
Legal Disclaimer
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Media Contact:Becky NyeDirectorMontieth &
Company155 E 44th St., New York, NY
10017bnye@montiethco.com +1 646.864.3517
Investor Relations:Miriam TuerkCo-Founder and
CEO+1 (855) 733-0119
x200investors@clearbluetechnologies.com http://www.clearbluetechnologies.com/en/investors
1 https://www.navigantresearch.com/reports/energy-as-a-service 2 https://www.woodmac.com/news/editorial/growing-offgrid-energy-access-sector/
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