LOS ANGELES, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Element 82 division has secured two new lead pipe inspection projects in New York. With completed and active projects in the state of New York, Element 82 is expanding its lead inspection footprint into the city of Little Falls and town of Warwick.
"Securing these new projects reflects our unwavering commitment to tackling lead pipe inspection,” said David Kinsella, President, Element 82 & PE Pipelines. "We will deploy cutting-edge detection technology, Electro Scan's Swordfish device, to perform non-destructive and non-invasive identification of lead. We are proud to continue partnering with the state of New York to identify and address critical water infrastructure challenges, ensuring safer drinking water for its residents.”
Crown's Element 82 continues to serve as a leading provider of lead identification services for local municipalities. With over 9.2 million lead pipes still estimated to be in use across the U.S., the opportunity to support the U.S. Environmental Protection Agency's (EPA) Lead and Copper Rule Improvements (LCRI) remains significant.
"Element 82's operations are scaling rapidly, with 12 crews on the road and approximately 2,500 homes tested in the fourth quarter of 2024 alone. This momentum positions Element 82 for continued growth in 2025, as demand for reliable lead identification solutions continues to rise,” concluded Mr. Kinsella.
About Crown
Crown (Nasdaq: CRKN) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit www.crownek.com.
Forward Looking Statements
Certain statements in this news release may be "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown's future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown's Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations” . 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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