TORONTO, June 12, 2023 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV: CBLU) (FRA:0YA) (OTCQB: CBUTF), announces a purchase agreement under which Clear Blue will provide its Esite-Micro power solution to 20 telecom sites in western Africa. The estimated total Lifetime Contract Value for this order, including recurring revenue, is $425,000 of which $360,000 is expected to ship in Q3 2023. This contract increases Clear Blue’s 2023 Year-To-Date bookings to $4,975,000, of which $4,325,000 is expected to be recognized in 2023.
The customer is a Mobile Network Operator (MNO) based in Western Africa and has 98 existing telecom sites powered by eSite Power Systems AB (“eSite”), which Clear Blue acquired on January 23, 2023. This order represents the revenue synergies between eSite and Clear Blue. The new Esite-Micro telecom sites will be fully integrated with Clear Blue’s Illumience cloud management and control service, allowing the sites to be monitored and managed remotely by Clear Blue’s service team, and providing Clear Blue with recurring revenue from Esite’s platform, a first, since the eSite acquisition closed. Furthermore, Clear Blue’s Illumience platform could in the future be added to the customer’s existing eSite systems in the field, which is not reflecting in Year-to-Date bookings, but could add $46K of additional recurring revenue.
“This first Esite-Micro order is supported by a strong and building sales funnel of the Esite-Micro product across Africa and increases our confidence of our 2023 revenue growth plan,” said CEO Miriam Tuerk. “We are optimistic about the value our first delivery our new integrated Esite-Micro product brings to our customers as well as the strong growth potential it could drive for Clear Blue.”
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.
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Nikhil Thadani, Sophic Capital
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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.