Clear Blue - Parallel Wireless Partnership Expands with Three Additional Orders for Smart Off-Grid Power
14 November 2022 - 11:30PM
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
3952investors@clearbluetechnologies.comwww.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital+1 437 836
9669Nik@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.
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