Crown Strengthens Leadership Team with Appointment of Andrew Mayer as President of Crown Construction

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].