Crown’s Fiber Optics Secures Fourth Contract for Fiber Optics Division

Executes Master Services Agreement with Fourth Customer in Last Two Months Covering the Northwest

LOS ANGELES, May 17, 2023 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks, today announced that it has executed a three year Master Services Agreement covering the Northwest with its now fourth customer, a leading multi-billion dollar infrastructure services provider.

Doug Croxall, Crown Electrokinetics CEO and Chairman stated, “As I stated on Monday’s earnings call, this new contract, which is Crown’s fourth contract, is a milestone event. The three-year agreement with a leading and well-regarded internet service provider is expected to provide a core, multi-year project that should allow for Crown to expand into other geographic areas within the Northwest region.

“The pace of customer agreements continues to exceed our expectations. I’m proud of our team who has been quick to capitalize on numerous sizeable opportunities like todays.

“Crown’s fiber optics division will continue to focus on expanding our customer base resulting in increased revenue opportunities, diversifying our customer concentration, and making growth more predictable. We look forward to updating revenue guidance on this project just as soon as initiated, and we remain in discussions with other prospective customers within the United States. We anticipate sharing more customer wins in the near future.”

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of our Smart Window Insert and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks.

Safe Harbor Statement: 

Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

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Crown Electrokinetics

IR Email: info@crownek.com

Source: Crown Electrokinetics: www.crownek.com

Released May 17, 2023