Clear Blue’s Illumient Lighting Selected For $300,000 Roadway Expansion Project In Oregon
TORONTO, May 18, 2023 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV: CBLU) (FRA:0YA) (OTCQB: CBUTF), announces that it has received a $300,000 order for 23 Illumient Smart Off-Grid lights for the expansion of a major roadway in Oregon, U.S.A. The project is a follow-on order with a previous Illumient customer. The total lifetime contract value of the project is $425,000 and is expected to ship in Q3 2023. Year to date, Clear Blue’s bookings are $4,600,000, of which $4,000,000 is expected to be recognized in 2023. Recall, in Q1 2023, Clear Blue’s order intake was $3,500,000 (up 74% from 2022), of which $3,200,000 was expected to be recognized as revenue in 2023.
The customer previously purchased and successfully installed 63 Illumient Smart Off-Grid lighting systems with Clear Blue in 2019, and has been satisfied with the operation of the systems as well as Clear Blue’s ongoing service. As a result, when the roadway was expanded, the customer chose Clear Blue’s Illumient solution to provide reliable lighting for the expanded section of the roadway.
The Illumient lighting systems will include 3 years of Clear Blue’s Energy-as-a-Service offering, whereby Clear Blue remotely monitors and manages every Illumient lighting system to ensure optimal system performance. The recurring revenue component of this contract will contribute an additional $125K in revenue beyond the initial value of $300,000.
This project demonstrates the significant expansion in clean energy infrastructure that is taking place in the United States as a result of the Inflation Reduction Act. Off-grid solar is becoming the preferred option for large infrastructure projects in the U.S. such as lighting for major roadways. Clear Blue is continuing to see strong order growth in the North American lighting market, which is expected to continue throughout 2023.
As Clear Blue CEO Miriam Tuerk states: “We are thrilled to announce this follow-on order with one of our valued customers in the Western United States. Their satisfaction with the performance of our Smart Off-Grid lighting systems made choosing Clear Blue’s Illumient solution an easy decision for the expansion of the roadway lighting project. We look forward to doing more projects with them in the future.”
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) www.clearbluetechnologies.com.
FOR FURTHER INFORMATION:
Miriam Tuerk, Co-Founder and CEO
+1 416 433 3952
Nikhil Thadani, Sophic Capital
+1 437 836 9669
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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, the future phases of the project or future value of this project for any mentioned parties.
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