BRIGHTON, Mich, April 22, 2021 (GLOBE NEWSWIRE) -- CGE Energy, Inc.’s (OTCPink: CGEI) subsidiary, Aradatum, is making it’s strategic moves and is looking to soon publicly discuss it’s rollout plans in greater detail.
Aradatum is currently in a scale-up phase, with a sales network established to build pre-sales for deliveries beginning in 2022, readying the towers for commercial manufacturing, and speaking to investors to expedite their growth.
The market and short interest is readying for these moves. There has been a large drop in short interest. https://www.americanbankingnews.com/2021/04/14/cge-energy-inc-otcmktscgei-sees-large-decrease-in-short-interest.html
It has been previously made public that at some point in the future, CGE intends to spin-off its subsidiary, Aradatum, to own and operate self-powered cell towers for the telecom and technology markets.
As a point of clarity concerning the future ownership of Aradatum by CGE Energy Shareholders, when the spin-off occurs, the intent is that every CGE Shareholder on the date of the spin-off will receive Aradatum Shares on the basis of one Aradatum Share for every one CGE Share owned, as of the last trading day prior to the spin-off. Only CGE Shareholders at spin-off will receive Aradatum Shares.
Until the spin-off occurs, the primary way to obtain Aradatum ownership is through the ownership of CGE Shares purchased in the open market or a large private placement.
“I see great value in the opportunity of Aradatum’s self-powered wireless towers in the market,” said Bryan Zaplitny, CGE’s President and CEO, “As a CGE shareholder myself, I am excited to also be part of a groundbreaking tech company that, when spun out, is poised to have greater long-term enterprise value potential than a single company, as structured today. Our companies' unique and differentiated types of power solutions can both shine independently and are in alignment with each organization’s sales activities.”
There are more than 300,000 additional cell towers needed to be constructed in the U.S. This will require a $500 Billion investment in new 5G infrastructure and Aradatum uniquely offers a solution to the geographic and power challenges that have limited the reach of next-generation wireless networks to date. Powered by clean, renewable energy with energy storage, Aradatum’s tower design is an environmentally responsible way to meet the growing demand for connectivity and for telecom providers to attain targeted and specific renewable energy goals.
About CGE Energy, Inc.
CGE Energy, Inc., and its wholly-owned subsidiary Clean Green Energy, Inc., is a developer of long-term energy projects and self-powered infrastructure which solve the unique energy challenges of their commercial, municipal and nonprofit customers. The Company provides both services and products that enable its customers to reduce their energy consumption; lower their upfront, operating and maintenance costs; and realize environmental benefits.
About Aradatum, Inc.
Aradatum is a technology company that provides the keys to ubiquitous wireless connectivity. Aradatum puts the infrastructure in place to solve geographic and power challenges that have limited the reach of next-generation wireless networks, offering a simple way to provide secure and instantaneous communication for telecommunications and network infrastructure equipment running advanced applications for 5G, private networks, and edge computing. Aradatum, Inc. is a subsidiary CGE Energy, Inc. www.aradatum.com
Press Release Contacts
CGE Energy, Inc.
Paul Schneider, VP Marketing
248-446-1344
pschneider@cgeenergy.com
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