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Crown Strengthens Leadership Team with Appointment of Andrew Mayer as President of Crown Construction
GlobeNewswire· 2025-01-24 14:00
Mr. Mayer Brings Over 45 Years Pipeline Industry Experience with an Expertise in XXL Diameter Pipelines Crown Establishes Construction Division Offering Fiber Optics, Lead Pipe Detection and XXL Pipeline Solutions LOS ANGELES, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced the appointment of Andrew (“Andy”) Mayer as Presi ...
Crown Announces Exclusive Partnership with Electro Scan Inc. Advancing Lead Pipe Detection
GlobeNewswire· 2025-01-17 14:30
Partnership and Strategic Collaboration - Crown Electrokinetics Corp has entered into an exclusive partnership with Electro Scan Inc to deploy the Swordfish lead detection device across 48 US states [1] - The partnership positions Crown's Element 82 as a leader in lead pipe detection solutions [1] - Element 82 is expected to contribute significantly to Crown's 2025 revenue guidance of $30 to $35 million [2] Technology and Innovation - The Swordfish is the world's first hand-held buried lead pipe detection tool capable of identifying various pipe materials without excavation [3] - Element 82 utilizes Swordfish devices to provide non-invasive and non-destructive solutions for detecting lead and galvanized water services [3] - In 2024, Element 82 successfully inspected over 2,500 homes using Swordfish devices, demonstrating the technology's effectiveness [4] Industry Impact and Public Health - The partnership reinforces the commitment to safeguarding public health by addressing lead contamination risks in water systems [5] - Electro Scan's Swordfish technology combined with Crown's expertise aims to modernize infrastructure and ensure access to safe, lead-free water [5] - The US EPA recognized electrical resistance testing as the only commercially available innovative solution for identifying buried lead pipes [5] Company Overview - Crown Electrokinetics Corp is an innovative infrastructure solutions provider with divisions in Smart Windows, Fiber Optics, and Water Solutions [7] - Electro Scan Inc is an independent partner in the Testing, Inspection, and Certification market, specializing in pipeline inspection and rehabilitation [6]
Crown Strengthens Financial Foundation for Growth and Profitability in 2025
GlobeNewswire· 2025-01-15 14:00
Current Cash Position Exceeding $25 Million or Approximately $0.11 Per Share 2025 Revenue Guidance of $30 Million to $35 Million On Track to Achieve Profitability in First Half of 2025 LOS ANGELES, Jan. 15, 2025 (GLOBE NEWSWIRE) -- – Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced it has significantly strengthened its financial foundation, ensuring continu ...
Crown Announces Results of Special Meeting of Stockholders
GlobeNewswire· 2025-01-14 22:00
Shareholder Approvals - Crown's shareholders approved all proposals, including a 1-for-200 reverse stock split and the ratification of its independent registered public accounting firm [1] - The reverse stock split provides flexibility to meet corporate objectives, including maintaining Nasdaq listing compliance [1] - The Board of Directors has discretion to enact the reverse stock split within a ratio of 1-for-2 to 1-for-200, with the exact ratio to be determined before December 31, 2025 [4] Company Strategy and Outlook - Crown aims to achieve profitability in the first half of 2025 and expand its footprint to meet increasing demand [5] - The company is focused on delivering innovative infrastructure solutions that address critical societal challenges [5] - Crown is committed to building long-term shareholder value and laying the foundation for sustainable growth and continued innovation [5] Business Overview - Crown operates three business divisions: Smart Windows, Fiber Optics, and Water Solutions [7] - The company is dedicated to developing cutting-edge infrastructure solutions that benefit communities and the environment [7] Voting Results and Reporting - The voting results from the Special Meeting of Stockholders were announced on January 14, 2025 [2] - Full voting reports can be accessed through the company's SEC filings [6]
Crown Reminds Shareholders to Vote Ahead of Special Meeting on January 14th
GlobeNewswire· 2025-01-13 11:00
Company Overview - Crown is an innovative infrastructure solutions provider with three business divisions: Smart Windows, Fiber Optics, and Water Solutions [5] - The company is focused on developing cutting-edge solutions that challenge industry standards and benefit communities and the environment [5] - Crown is listed on Nasdaq under the ticker CRKN [5] Shareholder Voting - Shareholders are voting on key proposals, including a reverse stock split, which is crucial for maintaining Crown's Nasdaq listing [1] - The Board of Directors and management strongly recommend voting FOR all proposals to ensure the company's long-term success [1] - The Special Meeting of Stockholders is scheduled for January 14, 2025, at 10:00 a.m. Eastern Time [8] - Shareholders are encouraged to vote electronically or by phone using their control number found on the proxy card [9][11] Strategic Importance of Reverse Stock Split - Approving the reverse stock split is essential for Crown to meet Nasdaq listing requirements, attract new investors, and enhance financial flexibility [4] - Maintaining the Nasdaq listing will enable Crown to meet growing demand for its innovative technology infrastructure solutions and deliver long-term shareholder value [4] - The year ahead holds significant opportunities across all three of Crown's business divisions [4] Contact Information - For additional information or assistance with voting, shareholders can contact Crown's Investor Relations team at ir@crownek.com [2][7] - Public Relations inquiries can be directed to pr@crownek.com [7]
Crown CEO Issues Update Letter to Shareholders
Newsfilter· 2024-12-26 21:30
LOS ANGELES, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today provided a letter to shareholders from its CEO and Chairman, Doug Croxall. Dear Fellow Shareholders, As 2024 comes to a close, I want to reflect on Crown's accomplishments this year and share our vision for the year ahead. It has been a transformative year for Crown, as we ...
Crown Completes Construction of First-of-Its-Kind Slant Well in Mexico
Newsfilter· 2024-12-23 14:43
LOS ANGELES, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Water Solutions division has successfully completed construction of the first of two slant wells at the Twin Dolphin Club in Cabo San Lucas, Mexico. The slant well is the first-of-its-kind, an innovative design to address water scarcity, providing a susta ...
Crown Completes Construction of First-of-Its-Kind Slant Well in Mexico
GlobeNewswire· 2024-12-23 14:43
Slant well Slant well LOS ANGELES, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Water Solutions division has successfully completed construction of the first of two slant wells at the Twin Dolphin Club in Cabo San Lucas, Mexico. The slant well is the first-of-its-kind, an innovative design to address water ...
Crown’s Element 82 Secures Two New Lead Pipe Inspection Projects in New York
GlobeNewswire· 2024-12-17 14:15
Company Overview - Crown Electrokinetics Corp (NASDAQ: CRKN) is an innovative infrastructure solutions provider focused on benefiting communities and the environment [4] - The company operates through three business divisions: Smart Windows, Fiber Optics, and Water Solutions [4] - Crown is developing cutting-edge solutions that challenge industry standards and redefine infrastructure [4] Element 82 Division - Element 82, a division of Crown, specializes in lead pipe inspection services [1] - The division has secured two new lead pipe inspection projects in New York, expanding its footprint to Little Falls and Warwick [1] - Element 82 utilizes advanced detection technology, specifically the Electro Scan's Swordfish device, for non-destructive and non-invasive lead identification [2] - The division currently has 12 crews operational and tested approximately 2,500 homes in Q4 2024 alone [3] Market Opportunity - There are an estimated 9.2 million lead pipes still in use across the United States [2] - Element 82 is positioned to support the EPA's Lead and Copper Rule Improvements (LCRI) initiative [2] - Demand for reliable lead identification solutions is increasing, positioning Element 82 for continued growth in 2025 [3] Strategic Partnerships - Element 82 maintains a strong partnership with the state of New York to address critical water infrastructure challenges [2] - The division is committed to ensuring safer drinking water for residents through its lead identification services [2]
Crown's Element 82 Secures Two New Lead Pipe Inspection Projects in New York
Newsfilter· 2024-12-17 14:15
LOS ANGELES, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Element 82 division has secured two new lead pipe inspection projects in New York. With completed and active projects in the state of New York, Element 82 is expanding its lead inspection footprint into the city of Little Falls and town of Warwick. "Secur ...