Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV:
CBLU) (FRANKFURT: OYA), the Smart Off-Grid™ company, today
announces that a major innovative telecom infrastructure operator
selected Clear Blue to power 400 telecommunications sites in rural
Africa. The initial order of Smart Off-Grid Power Systems is worth
approximately $5 million CAD in revenue to Clear Blue during Q4
2020 and Q1 2021, with gross margins in line with what the Company
has historically reported.
“Our strategic partnership with this important
telecom infrastructure company will ensure the successful roll-out
of these sites in remote areas,” said Miriam Tuerk, CEO, Clear
Blue. “We are proud our systems enable connectivity, which will
empower tens of thousands of people through access to education,
healthcare and fair trade, ensuring greater economic opportunities,
increased life expectancy and a reduction in infant mortality.”
Clear Blue currently expects that 30% of this
revenue will be realized in Q4 2020, and the remainder in Q1 2021.
Under the 3-year service agreement, Clear Blue will also provide
on-going management through Illumience, its cloud-based management
and control service, which will result in additional monthly
revenues on an ongoing basis. Clear Blue has been building its
inventory in anticipation of this order and already has 1,000 Smart
Off-Grid devices manufactured and ready for shipment in Q4.
Furthermore, Clear Blue anticipates that the
roll-out of these rural telecom sites will expand to 2,000 sites or
more in Africa. Follow-on orders to provide Smart Off-Grid Power
for these sites could bring significant revenues for Clear Blue
over the next two years.
Clear Blue has a successful history of
collaborating with this telecom infrastructure operator, starting
with an initial pilot shipment in 2019 followed by joint work to
develop a comprehensive business plan and technology-focused
approach to meet the demanding financial and technological needs of
the rural African market. Clear Blue’s Smart Off-Grid and
Illumience technology helps to ensure the high performing low-cost
systems required to support the initial low revenue per user (RPU)
that telecom partners and end-users need in these markets. This
technology also ensures more reliable connectivity through remotely
managed power and energy forecasting.
This latest agreement is the largest single
project between Clear Blue and this major telecom operator to date
and represents a large-scale roll out of telecommunications
infrastructure designed to support rural communities in Africa.
Clear Blue will leverage its experience in serving these emerging
markets through its technical expertise and proven history to
ensure its success and secure the greater potential future
value.
Added Tuerk: “With over 5,000 systems sold and
over 4 million days of data already, this contract will enable
Clear Blue to accelerate its growth plans and build on its success
in helping to connect the unconnected around the world.”
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
37 countries, including the U.S. and Canada. (TSXV: CBLU)
(FRANKFURT: OYA)
Legal Disclaimer
Neither 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.
Forward-Looking Statement
This press release contains certain
"forward-looking information" and/or "forward-looking statements"
within the meaning of applicable securities laws. Such
forward-looking information and forward-looking statements are not
representative of historical facts or information or current
condition, but instead represent only Clear Blue’s beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of Clear Blue's
control. Generally, such forward-looking information or
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or may contain
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "will continue", "will occur"
or "will be achieved". The forward-looking information contained
herein may include, but is not limited to, information concerning
the future potential of contracts or contract expansions, beyond
what has already been confirmed.
By identifying such information and statements
in this manner, Clear Blue is alerting the reader that such
information and statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Clear Blue to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of Clear Blue is
speculative and subject to several risks including, without
limitation, the risks discussed under the heading "Risk Factors" in
Clear Blue's listing application dated July 12, 2018. Although
Clear Blue has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information and forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended.
In connection with the forward-looking
information and forward-looking statements contained in this press
release, Clear Blue has made certain assumptions. Although Clear
Blue believes that the assumptions and factors used in preparing,
and the expectations contained in, the forward-looking information
and statements are reasonable, undue reliance should not be placed
on such information and statements, and no assurance or guarantee
can be given that such forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information
and statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release. All subsequent written and oral
forward-looking information and statements attributable to Clear
Blue or persons acting on its behalf is expressly qualified in its
entirety by this notice.
Investor
Relations:investors@clearbluetechnologies.comhttp://www.clearbluetechnologies.com/en/investors
Miriam TuerkCoFounder &
CEOMiriam@clearbluetechnologies.com+1-416-433-3952
Press Contact:Becky Nye,
DirectorMontieth & Company12 E 49th St., New York, NY
10017bnye@montiethco.com
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