Clear Blue Technologies Awarded $5M Deal with Major Telecom Operator
TORONTO, Nov. 17, 2020 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV: CBLU) (FRANKFURT: OYA), the Smart Off-Grid™ company, today announces that a major innovative telecom infrastructure operator selected Clear Blue to power 400 telecommunications sites in rural Africa. The initial order of Smart Off-Grid Power Systems is worth approximately $5 million CAD in revenue to Clear Blue during Q4 2020 and Q1 2021, with gross margins in line with what the Company has historically reported.
“Our strategic partnership with this important telecom infrastructure company will ensure the successful roll-out of these sites in remote areas,” said Miriam Tuerk, CEO, Clear Blue. “We are proud our systems enable connectivity, which will empower tens of thousands of people through access to education, healthcare and fair trade, ensuring greater economic opportunities, increased life expectancy and a reduction in infant mortality.”Clear Blue currently expects that 30% of this revenue will be realized in Q4 2020, and the remainder in Q1 2021. Under the 3-year service agreement, Clear Blue will also provide on-going management through Illumience, its cloud-based management and control service, which will result in additional monthly revenues on an ongoing basis. Clear Blue has been building its inventory in anticipation of this order and already has 1,000 Smart Off-Grid devices manufactured and ready for shipment in Q4.Furthermore, Clear Blue anticipates that the roll-out of these rural telecom sites will expand to 2,000 sites or more in Africa. Follow-on orders to provide Smart Off-Grid Power for these sites could bring significant revenues for Clear Blue over the next two years.Clear Blue has a successful history of collaborating with this telecom infrastructure operator, starting with an initial pilot shipment in 2019 followed by joint work to develop a comprehensive business plan and technology-focused approach to meet the demanding financial and technological needs of the rural African market. Clear Blue’s Smart Off-Grid and Illumience technology helps to ensure the high performing low-cost systems required to support the initial low revenue per user (RPU) that telecom partners and end-users need in these markets. This technology also ensures more reliable connectivity through remotely managed power and energy forecasting.This latest agreement is the largest single project between Clear Blue and this major telecom operator to date and represents a large-scale roll out of telecommunications infrastructure designed to support rural communities in Africa. Clear Blue will leverage its experience in serving these emerging markets through its technical expertise and proven history to ensure its success and secure the greater potential future value.Added Tuerk: “With over 5,000 systems sold and over 4 million days of data already, this contract will enable Clear Blue to accelerate its growth plans and build on its success in helping to connect the unconnected around the world.”About Clear Blue Technologies InternationalClear 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) (FRANKFURT: OYA)Legal DisclaimerNeither 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 StatementThis 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 potential of contracts or contract expansions, beyond what has already been confirmed.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.Investor Relations:
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