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Clear Blue Technologies International Inc
Symbol CBLU
Shares Issued 34,850,353
Close 2020-11-17 C$ 0.245
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Clear Blue wins $5M order for rural Africa

2020-11-17 07:08 ET - News Release

Ms. Miriam Tuerk reports

CLEAR BLUE TECHNOLOGIES AWARDED $5M DEAL WITH MAJOR TELECOM OPERATOR

A major innovative telecom infrastructure operator has selected Clear Blue Technologies International Inc. to power 400 telecommunications sites in rural Africa. The initial order of Smart Off-Grid power systems is worth approximately $5-million in revenue to Clear Blue during Q4 2020 and Q1 2021, with gross margins in line with what the company has historically reported.

"Our strategic partnership with this important telecom infrastructure company will ensure the successful rollout of these sites in remote areas," said Miriam Tuerk, chief executive officer, Clear Blue. "We are proud our systems enable connectivity, which will empower tens of thousands of people through access to education, health care and fair trade, ensuring greater economic opportunities, increased life expectancy and a reduction in infant mortality."

Clear Blue currently expects that 30 per cent of this revenue will be realized in Q4 2020, and the remainder in Q1 2021. Under the three-year service agreement, Clear Blue will also provide continuing management through Illumience, its cloud-based management and control service, which will result in additional monthly revenues on a continuing basis. Clear Blue has been building its inventory in anticipation of this order and already has 1,000 Smart Off-Grid devices manufactured and ready for shipment in Q4.

Furthermore, Clear Blue anticipates that the rollout of these rural telecom sites will expand to 2,000 sites or more in Africa. Follow-on orders to provide Smart Off-Grid power for these sites could bring significant revenues for Clear Blue over the next two years.

Clear Blue has a successful history of collaborating with this telecom infrastructure operator, starting with an initial pilot shipment in 2019 followed by joint work to develop a comprehensive business plan and technology-focused approach to meet the demanding financial and technological needs of the rural African market. Clear Blue's Smart Off-Grid and Illumience technology helps to ensure the high performing low-cost systems required to support the initial low revenue per user (RPU) that telecom partners and end-users need in these markets. This technology also ensures more reliable connectivity through remotely managed power and energy forecasting.

This latest agreement is the largest single project between Clear Blue and this major telecom operator to date and represents a large-scale rollout of telecommunications infrastructure designed to support rural communities in Africa. Clear Blue will leverage its experience in serving these emerging markets through its technical expertise and proven history to ensure its success and secure the greater potential future value.

Added Ms. Tuerk, "With over 5,000 systems sold and over four million days of data already, this contract will enable Clear Blue to accelerate its growth plans and build on its success in helping to connect the unconnected around the world."

About Clear Blue Technologies International Inc.

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 United States and Canada.

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