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:
Clear Blue Miriam Tuerk, Co-Founder and
CEO+1 416 433
3952investors@clearbluetechnologies.comwww.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital+1 437 836
9669Nik@SophicCapital.com
Legal Disclaimer
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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, 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.”
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described in this news release. Such securities have not been, and
will not be, registered under the U.S. Securities Act, or any state
securities laws, and, accordingly, may not be offered or sold
within the United States, or to or for the account or benefit of
persons in the United States or “U.S. Persons”, as such term is
defined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption from such
registration requirements.
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