Financial Post: Clear Blue Expands to Nigeria to Support Global Growth
Clear Blue drives industry leadership, global growth, and support for large-scale Smart Off-Grid projects with expansion in Nigeria
TORONTO, July 07, 2022 (GLOBE NEWSWIRE) — 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.t
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 3952
Nikhil Thadani, Sophic Capital
+1 437 836 9669
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.
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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.”
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