Crown Fiber Optics Secures New $50 Million Contract

$50 Million Purchase Order with Fifth Customer

LOS ANGELES, June 06, 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 an agreement with its fifth customer for a two year, $50 Million agreement with a leading infrastructure solutions provider.

Doug Croxall, Crown Electrokinetics CEO and Chairman, stated, “Today’s announcement demonstrates the continued success and interest in our Fiber Optics division and its ability to sign meaningful and revenue-producing contracts. The $50 million two-year agreement covers a project based in Colorado.”

“The pace of customer agreements with multiple leading infrastructure solution providers continues to exceed our expectations. I’m proud of our team who has been quick to capitalize on numerous sizeable opportunities like today’s announcement.”

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.

This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Crown Electrokinetics

IR Email: info@crownek.com

Source: Crown Electrokinetics: www.crownek.com

Released June 6, 2023