Clear Blue Technologies International Inc. (“Clear Blue” and the
“Company”) (TSXV: CBLU), the Smart Off-Grid™ Company, announces
that it has entered a memorandum of understanding (“MOU”), signed
on March 2, 2022, with Global Communications Extension Services
(“GCES”), a telecom service provider in the business of rural
telephony, to provide the Company’s Smart, Solar Off-Grid power
systems and service to power telecommunications sites in Nigeria.
The MOU also establishes Clear Blue as GCES’ preferred power
provider over the next five years, starting on March 2, 2022 and
ending on March 2, 2027.
Under the terms of the MOU, Clear Blue will
deliver approximately 120 Nano-Grid Smart Off-Grid power systems in
2022 with the remaining systems spread across the following four
years. The first systems will ship in Q2 of 2022, across
Nigeria.
“A key element in providing telecommunications
in remote areas and ensuring a low-cost telecom solution for the
unserved and underserved is by using renewable energy as a power
source and also satellite communication for backhaul. This allows
us to provide reliable, cost-effective services in places where
reliable services have not been previously possible or economically
viable,” said GCES Cofounder and CTO Adamu Babadisa. “We have been
exceptionally happy with Clear Blue’s solution to date. Its remote
energy management and control platform Illumience, together with
its service operations team, is truly top of its class. Its
predictive energy forecasting and troubleshooting and remediation
tools deliver the lowest upfront cost solution and the lowest
ongoing costs of any alternative in the market. And given the
specific design capabilities for modular upgradability, we can grow
these systems as our revenue and services grow.”
Miriam Tuerk, CEO and Cofounder of Clear Blue,
said, “GCES is devoted to transforming Nigeria through connectivity
and we are committed to delivering this transformation with clean,
managed, off-grid, wireless power for connecting the unconnected.
Clear Blue is proud to partner with them now and for many years to
come.”
With well over a billion people unconnected in
Africa, the economic need to provide telecommunication services to
underserved populations remains a key driver across the continent.
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 GCES
Global Communications Extension Services (GCES)
was established in 2016 with RC No: 1265484 and has since built its
expertise in the telecommunications industry. GCES emerged from the
merger of competences previously individually practiced by a number
of firms. The combined experience of these firms represents years
of high-quality professional services to the Nigerian and African
Telecommunication Industry. GCES offers a full suites range of core
telecommunications services - ICT infrastructure, technical support
services, open fiber control (OFC) services, fiber network audit,
site development and, operations and rural connectivity
solutions.
For more information visit:
www.gceservices.com.ng
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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