Please enter your login and password
Don't have an account? Sign Up! pex pipe defect
Please enter your email address
To create a free account, please fill out the form below.
Already have an account? Login
SoFi Expands Loan Platform Business with $2 Billion Agreement wit...
Palantir Announces Date of Third Quarter 2024 Earnings Release an...
BigBear.ai Awarded 5-Year Production Contract Valued at $165 Mill...
INVO Bioscience and NAYA Biosciences Close Merger, Combined Compa...
AGBA TAKES FINAL STEP TOWARD COMPLETION OF TRILLER MERGER
Dessert Day. Half Pay. Yes Way! The Cheesecake Factory Celebrates...
SoFi Expands Loan Platform Business with $2 Billion Agreement wit...
Palantir Announces Date of Third Quarter 2024 Earnings Release an...
BigBear.ai Awarded 5-Year Production Contract Valued at $165 Mill...
INVO Bioscience and NAYA Biosciences Close Merger, Combined Compa...
AGBA TAKES FINAL STEP TOWARD COMPLETION OF TRILLER MERGER
Dessert Day. Half Pay. Yes Way! The Cheesecake Factory Celebrates...
Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced that its PE Pipelines division has secured two contracts valued at $33 million for lead pipe remediation. The work is scheduled to begin in January 2025. This marks the company's first project in lead pipe remediation and the first project for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes carry drinking water to American taps, with the National Resources Council estimating up to 12.8 million pipes. Crown's CEO, Doug Croxall, stated that this contract demonstrates the caliber of their team and their ability to execute, emphasizing that they believe they have only scratched the surface of this market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) announced that its PE Pipelines division has been awarded two contracts worth $33 million for lead pipe remediation. Work is scheduled to begin in January 2025. This marks the company's first project in lead pipe remediation and first project for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes supply drinking water to American taps, with the National Resources Council estimating as many as 12.8 million pipes. Crown CEO Doug Croxall said this deal demonstrates the caliber of their team and their ability to execute, noting that they believe they have only scratched the surface of this market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced that its PE Pipelines division has secured two contracts valued at $33 million for the remediation of lead pipes. Work is scheduled to begin in January 2025. This is the company's first project in lead pipe remediation and the first project for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes deliver drinking water to American taps, and the National Resources Council estimates as many as 12.8 million pipes. Crown CEO Doug Croxall stated that this contract demonstrates the caliber of their team and their ability to execute, emphasizing that they believe they have barely scratched the surface of this market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) announced that its PE Pipelines division has been awarded two lead pipe remediation contracts worth $33 million. Work is scheduled to begin in January 2025. This is the company's first lead pipe remediation project and the first of its kind for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes supply drinking water to America's taps, and the National Resources Council estimates as many as 12.8 million pipes. Crown CEO Doug Croxall emphasized that this deal demonstrates their team's capabilities and ability to execute, and that they believe they have only scratched the surface of the market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) announced that its PE Pipelines division was awarded two contracts worth $33 million for lead pipe rehabilitation. Work is scheduled to begin in January 2025. This marks the company's first project in lead pipe rehabilitation and the first project for PE Pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes deliver drinking water to American taps, while the National Resources Council estimates up to 12.8 million pipes. Crown CEO Doug Croxall said this contract demonstrates the caliber of their team and their ability to execute, emphasizing that they believe they have barely scratched the surface of this market opportunity.
Crown Electrokinetics Corp. (NASDAQ: CRKN) announced that its PE Pipelines Division has secured two contracts worth $33 million to rehabilitate lead pipes. Work is scheduled to begin in January 2025. This is the company's first project in the field of lead pipe rehabilitation and the first project for PE pipelines.
The U.S. Environmental Protection Agency estimates that 9.2 million lead pipes carry drinking water to American faucets, while the National Resources Council estimates up to 12.8 million pipes. Crown CEO Doug Croxall stated that this contract demonstrates their team's capabilities and ability to execute, emphasizing that they believe they have only scratched the surface of this market opportunity.
Crown Electrokinetics' announcement of $33 million in contracts for lead pipe remediation is a significant development for the company. This marks their entry into a potentially lucrative market, addressing a critical infrastructure issue. The contracts, set to begin in January 2025, represent a substantial revenue stream for a company with a market cap of just $5.4 million.
The lead pipe remediation market presents a massive opportunity, with the EPA estimating 9.2 million lead pipes in the U.S. This could translate to a multi-billion dollar market over the coming years. Crown's ability to secure these contracts suggests they have developed competitive capabilities in this field.
However, investors should note that execution will be key. The company will need to demonstrate its ability to deliver on these projects profitably. Additionally, the timeline for revenue recognition starting in 2025 means near-term financials may not reflect this development.
The securing of these contracts by Crown Electrokinetics is a noteworthy step in addressing the critical issue of lead contamination in U.S. drinking water. With estimates ranging from 9.2 to 12.8 million lead pipes nationwide, this represents just the beginning of a massive infrastructure overhaul.
The EPA's focus on this issue, coupled with potential federal funding, suggests a long-term, stable market for lead pipe remediation. Crown's entry into this space is timely and aligns with national priorities. However, the complexity of water systems and poor mapping present significant challenges.
Investors should consider the potential for regulatory tailwinds and additional government contracts in this sector. The success of these initial projects could position Crown favorably for future opportunities in what is likely to be a growing market over the next decade.
Crown's expansion into lead pipe remediation through its PE Pipelines division marks a strategic pivot that leverages the growing demand for infrastructure upgrades. The $33 million in contracts is substantial for a company of Crown's size and could serve as a proof of concept for future projects.
The lead pipe issue in the U.S. is vast and complex, requiring specialized expertise and innovative solutions. Crown's ability to secure these contracts suggests they have developed or acquired the necessary capabilities. However, the execution of these projects will be important in establishing their credibility in this new market.
Investors should watch for Crown's performance on these initial contracts, as success could lead to a significant pipeline of future projects. The company's diversification from smart glass technology into infrastructure remediation also presents both opportunities and risks that warrant careful consideration.
LOS ANGELES, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading smart glass technology company and an expert in constructing fiber optic networks and lead pipe inspection and remediation, today announced that its PE Pipelines division has secured two contracts valued at $33 million for lead pipe remediation. The work is scheduled to begin in January 2025.
“These two contracts represent our first project in lead pipe remediation and the first project in PE Pipelines," says David Kinsella, President of PE Pipelines. “Opportunities like this continue to further Crown’s mission to help transform infrastructure to improve people’s lives. Lead in drinking water pipes represents an enormous problem for the United States of America and we are proud to be playing a key role to ensure people have safe drinking water.”
The U.S. Environmental Protection Agency (US EPA) estimates that 9.2 million lead pipes carry drinking water to American water taps. The National Resources Council has estimated numbers as high as 12.8 million pipes. These numbers could be significantly higher, given the poor mapping and enormous complexity of the country’s water systems. Despite the range, experts agree that millions of American households remain at risk of lead exposure through their drinking water.
Crown’s CEO and Chairman Doug Croxall stated, “We continue to execute our business plan as promised. When we started the PE Pipelines division, we communicated that with it, we were adding some world-class experts, innovators, and operators to ensure its success. Today’s $33M contract is a testimonial to both the caliber of our team, and our ability to execute. Most importantly, we believe we have just scratched the surface of this market opportunity.”
Crown is comprised of four divisions, Fiber Optics, Electrokinetics Film, Element 82, and PE Pipelines. Crown’s Fiber Optics division is a builder of underground fiber optic networks as well as other utility infrastructure projects. The Electrokinetics Film division is a smart glass technology, and the creator of our Smart Window Insert based on its patented electrokinetic film. Element 82 is a water pipeline inspection service provider focused on lead detection and condition assessment. PE Pipelines is a pipe repair, replacement, and lead pipe remediation specialty contractor.
Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Crown Electrokinetics Contact: IR Email: info@crownek.com
What is the value of the lead pipe remediation contracts secured by Crown Electrokinetics (CRKN)? Crown Electrokinetics (CRKN) has secured two contracts for lead pipe remediation totaling $33 million.
When will Crown Electrokinetics (CRKN) begin work on the lead pipe remediation contracts? The work on the lead pipe remediation contracts is scheduled to begin in January 2025.
How many lead pipes are estimated to carry drinking water in the United States according to the EPA? The U.S. Environmental Protection Agency (EPA) estimates that 9.2 million lead pipes carry drinking water to American water taps.
high voltage cable black dot What is the significance of these contracts for Crown Electrokinetics (CRKN)? These contracts represent Crown Electrokinetics' first project in lead pipe remediation and the first project for their PE Pipelines division, marking their entry into a new market segment.