Today, Clear Blue Technologies International Inc. (TSXV: CBLU)
(“Clear Blue” or the “Company”) announced it has a signed agreement
with NuRAN Wireless Inc. ('NuRAN'), a leading supplier of mobile
and broadband wireless infrastructure solutions, with an initial
estimated value between $8 million to $10 million CAD in revenues
over the next three years. Clear Blue’s 2021 third and
fourth-quarter earnings will reflect initial sales numbers for the
contract, but the Company is providing estimated pro forma revenues
for its shareholders in this release. Unless stated otherwise, all
dollar amounts are in Canadian dollars, with gross margins in line
with what the Company has historically reported.
Key highlights:
- NuRAN awarded Clear Blue the contract to power an estimated
minimum of 1,333 telecom sites in the Democratic Republic of the
Congo (DRC);
- Clear Blue’s first order will realize $750,000
of revenues, in the remainder of 2021, with the initial orders due
to start shipping in July;
- Clear Blue estimates approx. $2.5 million per
year in revenues between 2022 – 2025, totaling a minimum additional
$7.5 million;
- The contract includes Energy-as-a-Service, which will provide
additional minimum recurring revenues of $100,000
per year, contracted for a minimum of three years, with expansion
growth and renewals thereafter.
“This is one of the largest deals secured to date and provides
significant upside for Clear Blue’s revenues over the next three
years,” says Miriam Tuerk, Co-founder and CEO, Clear Blue
Technologies. “We see this as part of a trend, as we emerge from
the global pandemic, where corporations are looking to be more
sustainable. Projects are being greenlit and orders for our smart
off-grid systems are picking up. As a result, Management is highly
optimistic about revenue and top-line growth during the remainder
of 2021 and into 2022.”
Clear Blue is contracted to provide its smart off-grid power in
the form of the Nano-Grid Power Packs and Energy-as-a-Service to at
least 1,333 telecom sites operated by NuRAN in the DRC. This total
number of sites represents two-thirds of the total installation,
with NuRAN choosing to retain vendor diversity by awarding the
remaining sites to other third-party suppliers given the size of
the project.
Francis Létourneau, President and Chief Executive Officer at
NuRAN stated: “Clear Blue’s Smart Power and Energy-as-a-Service are
key components to our planned telecom roll-out in the DRC, offering
the lowest CAPEX/OPEX as well as the best performance and uptime.
Because of that, it enables these rural sites to be simultaneously
cost-effective and reliable for a strong, viable and profitable
business model.”
Of the 89.56 million people living in DRC, approx.18% have
access to the internet, according to Statista, demonstrating a
clear need to increase connectivity in the region.1 Further, the
World Bank estimates that the population of the DRC will have
reached 120 million by 2030, providing an even greater opportunity
for growth in the telecom market.2
NuRAN could increase its current order for Clear Blue’s Smart
Power systems by between 30 – 50%, depending on the success of the
initial installations and available financing for follow-on
projects. In addition, as the capacity of each site grows, and if
NuRAN extends its contract for Energy-as-a-Service beyond the
initial 3-year period, Clear Blue expects that the total value of
this contract could be $15 million over 10 years.
Clear Blue has a long-standing relationship with NuRAN that has
grown to multiple projects since the Company’s first installation
with the telecom operator in 2018. Most recently, NuRAN awarded
Clear Blue a contract in Q4 2020 for Cameroon that was valued at
$1.45 million.
Tuerk adds: “We value the trust that NuRAN has placed in us to
deliver power to their telecom sites and look forward to working
with them on this latest installation.”
About Clear Blue Technologies
International Inc.
Clear Blue delivers clean, managed, wireless
power – anywhere and anytime. We use our patented Smart Off-Grid
technology, delivered through our Energy-as-a-Service business
model, to manage lighting, telecom, Internet of Things devices, and
other critical systems worldwide. Clear Blue has thousands of
systems under management across 37 countries, including the U.S.
and Canada. Clear Blue is publicly traded on the Toronto Venture
Exchange under the symbol CBLU, on the Frankfurt Stock Exchange
(FRA: 0YA) and on the OTC venture exchange (OTCBQ: CBUTF). Learn
more at www.clearbluetechnologies.com.
About NuRAN
NuRAN Wireless is a leading supplier of mobile and broadband
wireless infrastructure solutions. Its innovative radio access
network (RAN), core network, and backhaul products dramatically
drop the total cost of ownership, thereby creating new
opportunities for established, as well as emerging mobile network
operators. Indoor coverage, isolated rural communities, offshore
platforms and ships, NuRAN Wireless helps its customers reach
everyone, everywhere.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 phases of the
project or future value of this project for any mentioned
parties.
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:Miriam TuerkCo-Founder and
CEO+1-416-433-3952miriam@clearbluetechnologies.comhttp://www.clearbluetechnologies.com/en/investors
Press ContactRebecca
BenderMontieth & Company155 E 44th St., New York, NY
10017rbender@montiethco.com
1
https://www.statista.com/statistics/505883/number-of-internet-users-in-african-countries/2 www.worldbank.org
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