Clear Blue Technologies International Inc. (“
Clear
Blue” and the “
Company”) (TSXV: CBLU)
(FRA: 0YA) (OTCQB: CBUTF), the Smart Off-Grid Company™, announces a
new subsidiary and local office in Lagos, Nigeria.
Recognizing the opportunity for powering Nigerian telecom
networks with Smart Off-Grid via partnerships, MOUs and large-scale
Smart Off-Grid power contracts, Clear Blue sought to expand its
global operations to Nigeria to better capitalize on this market
and support these growth initiatives locally. This expansion
follows the opening of a satellite office in Nairobi, Kenya in
2020. The new Nigeria office will provide sales and business
development and customer relationship management. Additionally, it
will ensure smoother installations, faster delivery, and lower
costs for customers, through local support and warehousing of local
supply of power components.
The Company is also pleased to announce the hiring of Mr.
Adetunji Taiwo, Clear Blue Nigeria’s country manager. Mr. Taiwo
brings significant experience in the Nigerian market and
telecommunications sector and will manage key customer
relationships and business development efforts in the region.
The Nigerian telecom market has seen significant growth in
recent years and more growth is expected due to the rising
population and connectivity adoption. There is also strong growth
forecasted due to the rising adoption of the Internet of Things
(IoT) that connects with wired and wireless broadband (Global
Monitor, 2020). Governments in Africa are pushing for greater
access to connectivity to support digital services that provide
substantial socio-economic benefits. Telecommunications operators
are rolling out large-scale infrastructure projects with reliable
off-grid power at the center of telecommunications
infrastructure.
Clear Blue is a partner to telecommunications operators in the
region by providing low-cost, reliable Smart Off-Grid power. On
April 22, 2022, the Company announced that its Nano-Grid and new
Pico-Grid power products will provide reliable, low-cost, clean
energy solutions and management services at Viasat’s
satellite-based Community Internet locations in Nigeria. On March
3, 2022, Clear Blue announced that it signed a memorandum of
understanding (“MOU”) with Global Communications Extension Services
(“GCES”), a telecom service provider in the business of rural
telephony. This MOU was to provide the Company’s smart, Solar
Off-Grid power systems and service to power 120 telecommunications
sights for 9Mobile and other MNOs with a 5-year target of 1,060
sites. “Clear Blue has been providing Smart Off-Grid power products
to Nigeria since 2017, from solar streetlights to
telecommunications power and now community Wi-Fi. With the growing
number of contracts and opportunities in this region and the
significant potential for growth in the Nigerian telecom sector, we
knew that we must have local support,” says Miriam Tuerk, CEO and
Co-Founder of Clear Blue. “Beyond supporting major customers in
their local time zone, we needed to improve supply chain security,
costs, and timelines by having a local warehouse for components.
With our office in Kenya to the east and now Nigeria to the west,
we are committed to the African market, and our growth in the
region. We can now better support our growing operations in Africa
and are thrilled to have local representation. We are truly the
first choice for powering African telecom and we are excited for
our future in Nigeria.”
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 Information Disclaimer
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and forward-looking
statements are not representative of historical facts or
information or current condition, but instead represent only the
Resulting Issuer’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
contracts or projects, or future value of contracts or 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 " Risks
and Uncertainties" in Clear Blue's MD&A dated May 30, 2022.
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.
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