Core Viewpoint - Crown Electrokinetics Corp. announced a reverse stock split at a ratio of 1-for-150 shares, effective January 30, 2025, to strengthen its market position and maintain its Nasdaq listing [1][2][4]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 150 shares of common stock into one share, with fractional shares rounded up to the nearest whole share [3]. - The action was approved by the Board of Directors on January 25, 2025, following stockholder approval on January 14, 2025 [2]. Group 2: Company Position and Strategy - The CEO emphasized that the reverse stock split is a necessary step for maintaining the Nasdaq listing, which is crucial for the company's growth and credibility [4]. - Crown currently has a healthy cash balance exceeding $25 million and is experiencing growing revenues, indicating a stronger position compared to the past [4]. - The addition of Andy Mayer and his team is seen as a transformative moment for the company, enhancing its capabilities in the pipeline industry and disaster rehabilitation [4]. Group 3: Company Overview - Crown is an innovative infrastructure solutions provider with three business divisions: Smart Windows, Construction, and Water Solutions, focused on benefiting communities and the environment [6].

Core Viewpoint - Crown Electrokinetics Corp. has appointed Andrew Mayer as President of Crown Construction, aiming to enhance its infrastructure solutions, particularly in fiber optics, lead pipe detection, and XXL diameter pipelines [1][6]. Group 1: Appointment and Leadership - Andrew Mayer brings over 45 years of pipeline industry experience, having worked in consulting, design, and construction across multiple regions including Europe, Asia, the Middle East, and North America [2]. - Mayer's previous role as President of Murphy Pipelines involved pioneering trenchless technologies, contributing to the rehabilitation of millions of feet of pipelines in North America [3]. - His leadership experience includes significant disaster recovery efforts following major events such as Hurricane Katrina and Hurricane Irma, showcasing his ability to manage complex projects [4]. Group 2: New Offerings and Innovations - Under Mayer's leadership, Crown will introduce XXL diameter HDPE pipeline solutions, with diameters exceeding 54 inches, which are crucial for infrastructure rehabilitation due to their durability and corrosion resistance [5]. - These HDPE pipes are designed to last over 100 years and can be produced in diameters up to 3.5 meters, offering greater flow capacity than traditional concrete pipes [5]. - Crown is positioned as the only U.S. contractor with fusion plates capable of welding HDPE pipe sections into long pipelines, addressing critical water infrastructure challenges [5]. Group 3: Strategic Alignment and Future Goals - Crown aims to align its innovative solutions with California's urgent water challenges, particularly in light of recent governmental initiatives to improve water accessibility [6]. - Mayer expressed a commitment to advancing technology and solutions for large-scale infrastructure projects, indicating a focus on redefining standards for reliability and performance [6]. Group 4: Compensation and Incentives - As part of his appointment, Mayer will receive Restricted Stock Units (RSUs) valued at approximately $4.5 million, with a structured vesting schedule over four years [8].

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]

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 ...

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]

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]

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 ...

Core Insights - Crown Electrokinetics Corp. has completed the construction of the first slant well at the Twin Dolphin Club in Cabo San Lucas, Mexico, marking a significant milestone for the company [1][2] - The Water Solutions division aims to address global water scarcity through innovative and scalable technologies, with plans to replicate this project in other water-scarce regions [2][8] - The slant well, measuring 140 ft in length, is designed to extract water from beneath the ocean floor while minimizing environmental impact, showcasing advanced engineering [5][8] Company Overview - Crown Electrokinetics Corp. operates in three business divisions: Smart Windows, Fiber Optics, and Water Solutions, focusing on innovative infrastructure solutions that benefit communities and the environment [9] - The proprietary design of the slant well has attracted significant interest in the Los Cabos region due to its ability to provide a sustainable and reliable water source [8]

Core Insights - Crown Electrokinetics Corp. has completed the construction of the first slant well at the Twin Dolphin Club in Cabo San Lucas, Mexico, marking a significant milestone in addressing water scarcity [1] - The slant well, measuring 140 ft in length, is designed to extract water from beneath the ocean floor while minimizing environmental impact, showcasing innovative engineering and technology [1] - The project has generated significant interest in the Los Cabos region due to its potential to provide a sustainable and reliable water source, with implications for similar coastal areas facing water challenges [1] Company Overview - Crown Electrokinetics Corp. operates in three business divisions: Smart Windows, Fiber Optics, and Water Solutions, focusing on innovative infrastructure solutions that benefit communities and the environment [1] - The company aims to replicate the success of the slant well project in Mexico and other water-scarce countries, emphasizing its commitment to addressing global water scarcity through scalable technologies [1]

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]