Crown Electrokinetics' Element 82 secures partnership with Electro Scan for lead pipe inspections in Pittsburgh's replacement initiative.
Quiver AI Summary
Crown Electrokinetics Corp. has announced that its Element 82 division will play a significant role in Pittsburgh Water's lead pipe replacement initiative through a partnership with Electro Scan Inc. Element 82 will utilize Electro Scan's SWORDFISH technology to inspect the water service lines of 1,600 homes as part of the Neighborhood Lead Service Line Replacement program. The SWORDFISH technology employs advanced electrical resistance testing to accurately identify lead pipes in a non-invasive manner. David Kinsella, President of Element 82, emphasized the importance of this project in tackling public health issues related to lead pipes and highlighted the technology's capability to detect various pipe materials. This move positions Element 82 as a leader in infrastructure solutions and reflects Crown's commitment to community health and environmental sustainability.
Potential Positives
- Crown Electrokinetics Corp.'s Element 82 division has secured a key role in a major public health initiative, enhancing its reputation as a leader in innovative infrastructure solutions.
- The exclusive service partnership with Electro Scan Inc. positions Crown at the forefront of advanced lead pipe detection technology, which addresses a critical safety and health concern for communities.
- SWORDFISH technology is recognized by the U.S. Environmental Protection Agency as the only commercially available solution capable of accurately identifying lead water pipes, underscoring the company's credibility and technological leadership in the industry.
- By participating in Pittsburgh Water’s Neighborhood Lead Service Line Replacement program, Crown demonstrates its commitment to community health and environmental sustainability, aligning its business objectives with socially responsible practices.
Potential Negatives
- Dependence on a single project: The announcement centers around a key role in a specific lead pipe replacement initiative, which may highlight the company's reliance on individual projects for revenue growth and exposure.
- Forward-looking statements: The press release includes numerous forward-looking statements that acknowledge potential uncertainties and risks, which could undermine investor confidence regarding the company's future performance.
- Potential regulatory scrutiny: The involvement in Pittsburgh's lead pipe replacement initiative may draw attention from regulatory bodies, increasing the risk of scrutiny and compliance challenges in subsequent projects.
FAQ
What is the role of Crown Electrokinetics in Pittsburgh's lead pipe replacement initiative?
Crown's Element 82 division will inspect water service lines for 1,600 homes using Electro Scan's SWORDFISH technology.
What technology is being used to detect lead pipes?
The SWORDFISH technology utilizes advanced electrical resistance testing for accurate and non-invasive identification of lead pipes.
How does SWORDFISH technology differ from traditional lead pipe detection methods?
SWORDFISH can detect a wider range of materials, including lead and copper, offering greater accuracy than traditional methods.
Why is the lead pipe replacement initiative important for public health?
This initiative aims to address critical public health challenges associated with lead exposure from aging water service lines.
What is Crown Electrokinetics' commitment to communities and the environment?
Crown is dedicated to developing innovative infrastructure solutions that enhance community health and promote environmental sustainability.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
LOS ANGELES, Jan. 29, 2025 (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 a key role in Pittsburgh Water’s lead pipe replacement initiative through its exclusive service partnership with
Electro Scan Inc
.
Element 82 will deploy Electro Scan’s SWORDFISH technology to inspect all water service lines for 1,600 homes as part of Pittsburgh Water’s Neighborhood Lead Service Line Replacement program. SWORDFISH uses advanced electrical resistance testing to deliver unparalleled accuracy in identifying lead pipes, offering a solution that is both non-invasive and non-destructive.
"This project reflects the growing recognition of Element 82’s ability to address one of the most pressing public health challenges of our time," David Kinsella, President, Element 82. "By leveraging Electro Scan’s SWORDFISH technology, we are setting new industry standards for accuracy, efficiency, and innovation in lead pipe detection. We are proud to play an important role in projects like these, which prioritize community health and environmental sustainability."
Electrical resistance testing was recognized by the U.S. Environmental Protection Agency in December 2024 as the only commercially available solution capable of accurately identifying lead water pipes. Its ability to detect a range of materials, including lead, copper, galvanized, and plastic pipes, sets it apart from traditional methods that often miss key details.
"Element 82 is at the forefront of transforming how we approach infrastructure challenges. As communities across the U.S. work to eliminate lead service lines, our technology and expertise position us as a trusted partner to deliver meaningful results," 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, Construction, 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.
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.
For more information, please contact:
Investor Relations
ir@crownek.com
Public Relations
pr@crownek.com
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