TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV:CBLU) (FRA:0YA) (OTCQB: CBUTF), the Smart Off-Grid™ Company, is pleased to provide the following corporate update on its projects with Parallel Wireless, the leading U.S.-based O-RAN compliant, Open RAN company, enabling ALL Gs, first announced on June 23, 2021:
- Following a successful Phase 1 deployment of Clear Blue’s Smart Off-Grid power, two additional phases were procured and shipped in 2021 and 2022;
- A fourth phase was awarded on November 9th, 2022 and is planned for deployment in 2023, which will bring the total number of sites to 147;
- The 5-year lifetime contract value (LCV) for the four phases is estimated to exceed $4 million CAD;
Together, Clear Blue’s Smart Off-Grid power technology and Parallel Wireless’s Open RAN All G technology deliver a high-performance, cost-effective telecommunications solution for major telecom operators in Africa. The majority of the project consists of large backhaul transmission and medium-sized cell tower systems. The project is entirely powered through either grid-solar hybrid systems or solar-only solutions. There are no gas generators deployed on any sites across the network.
“Recent global events have accelerated the need for MNOs and Tower operators to migrate their sites away from diesel generators,” said Miriam Tuerk, CEO of Clear Blue. “In addition to the negative climate impact of gas generators, the exponential increase in cost for the diesel generator operational model is applying significant pressure on the bottom line of MNOs and tower operators. This project demonstrates that with Open RANs lower power consumption, along with Clear Blue’s Smart Off-Grid solutions, major telecom systems across Africa can reliably and effectively operate without the need for expensive and dirty gas generators.”
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).
For more information, contact:
Miriam Tuerk, Co-Founder and CEO
+1 416 433 3952
investors@clearbluetechnologies.com
www.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital
+1 437 836 9669
Nik@SophicCapital.com
Legal Disclaimer
Neither 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 Statement
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, information concerning the future phases of the project or future value of this project for any mentioned parties.
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.
