Clear Blue Technologies International Inc. (TSXV: CBLU), the Smart
Off-Grid Company, today announced that it has entered a memorandum
of understanding (“MOU”), signed on February 25, 2022, with iSAT
Africa, an integrated communications services provider serving
Africa and the Middle East. iSAT Africa has also selected Clear
Blue as its preferred partner for Smart, Solar Off-Grid power. The
MOU also calls for Clear Blue to provide a minimum of 300 off-grid,
remote power systems for satellite and cell phone services in 4
countries in Africa, to be ordered by the end of Q1 2023. This
order is worth an initial amount of C$2 million and has an
estimated 5-year Life-Time Contract Value, which includes capacity
upgrades and ongoing service management by Clear Blue, of C$3
million. The first 30 systems will ship in Q1 2022 and the
remainder of the project is subject to iSAT successfully concluding
financing for the remaining rollout.
“Clear Blue Technologies is the market leader in providing
smart, reliable, off-grid power for mission critical telecom
infrastructure,” said Rakesh Kukreja, founder and Managing Director
of iSAT Africa. “Through a number of previous deployments with
Clear Blue, we have seen the strength of Clear Blue’s technology
and the positive impact it has on our business model and service to
our customers.”
“iSAT Africa is a key partner in bringing connectivity to the
unconnected throughout Africa. They have a number of deployments in
numerous countries already, and we are thrilled to be working with
them on this project and hopefully many more to come in the
future,” said Miriam Tuerk, cofounder and CEO of Clear Blue. “Their
commitment to transforming the way Africa gets and stays connected
with rest of the world aligns tightly with our vision of delivering
clean, managed, off-grid, wireless power for critical satellite
systems, which improve connectivity, unlocking previously
unrecognized economic and human potential.”
The economic need to provide telecommunication services to
underserved populations remains a key driver across Africa. Mordor
Intelligence indicates that to meet the growing telecom demand for
services globally, over US$4.47 billion in spending on powering
telecom tower rollouts will occur in 2022, growing to US$5.25
billion in 2025, a 3.25% CAGR.
About iSAT Africa
iSAT Africa is an integrated communications services provider
specializing in broadcasting & rural connectivity, fixed &
mobile satellite solutions, MPLS in Africa and Middle East. iSAT
Africa’s various solutions including Terrestrial and Satellite
Solutions, are backed by powerful Satellites, African Teleports and
Headend infrastructure. iSAT Africa has its POP, integrated with
fiber and satellite services, in more than 30 countries in Africa
connecting to the rest of world. Its innovative solutions and
resilient network are used by different verticals including
Governments, TELCOS, media, multinationals, network companies and
ISPs. With its subsidiaries in Kenya and Zambia and partners in
various countries of Africa iSAT Africa is able to deliver the
projects with complete satisfaction of the client. iSAT Africa
works closely with its partners and service providers to create the
best solutions for Data, Voice and Video type requirements for its
customers using its satellite and terrestrial infrastructure. iSAT
Africa’s mission is to transform the way Africa gets and stays
connected with rest of the World through its carrier grade
connectivity for voice, data and video applications increasing
business opportunities in all kinds of diverse and challenging
environments.www.isatafrica.com/
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) (FRA: 0YA) (OTCQB:
CBUTF).
For more information, contact:
Miriam Tuerk, Co-Founder and CEO+1 416 433
3952investors@clearbluetechnologies.comwww.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital+1 437 836
9669Nik@SophicCapital.com
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.
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