MOU Includes a Minimum of 300 Off-Grid, Remote Power Satellite Internet Systems, Including 30 Prepaid Systems
Clear Blue Technologies Selected as Preferred Partner for Smart Solar Off-Grid power by iSAT Africa
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (TSXV: CBLU), the Smart Off-Grid Company, today announced that it has entered a memorandum of understanding (“MOU”), signed on February 25, 2022, with iSAT Africa, an integrated communications services provider serving Africa and the Middle East. iSAT Africa has also selected Clear Blue as its preferred partner for Smart, Solar Off-Grid power. The MOU also calls for Clear Blue to provide a minimum of 300 off-grid, remote power systems for satellite and cell phone services in 4 countries in Africa, to be ordered by the end of Q1 2023. This order is worth an initial amount of C$2 million and has an estimated 5-year Life-Time Contract Value, which includes capacity upgrades and ongoing service management by Clear Blue, of C$3 million. The first 30 systems will ship in Q1 2022 and the remainder of the project is subject to iSAT successfully concluding financing for the remaining rollout.
“Clear Blue Technologies is the market leader in providing smart, reliable, off-grid power for mission critical telecom infrastructure,” said Rakesh Kukreja, founder and Managing Director of iSAT Africa. “Through a number of previous deployments with Clear Blue, we have seen the strength of Clear Blue’s technology and the positive impact it has on our business model and service to our customers.”
“iSAT Africa is a key partner in bringing connectivity to the unconnected throughout Africa. They have a number of deployments in numerous countries already, and we are thrilled to be working with them on this project and hopefully many more to come in the future,” said Miriam Tuerk, cofounder and CEO of Clear Blue. “Their commitment to transforming the way Africa gets and stays connected with rest of the world aligns tightly with our vision of delivering clean, managed, off-grid, wireless power for critical satellite systems, which improve connectivity, unlocking previously unrecognized economic and human potential.”
The economic need to provide telecommunication services to underserved populations remains a key driver across Africa. Mordor Intelligence indicates that to meet the growing telecom demand for services globally, over US$4.47 billion in spending on powering telecom tower rollouts will occur in 2022, growing to US$5.25 billion in 2025, a 3.25% CAGR.
About iSAT Africa
iSAT Africa is an integrated communications services provider specializing in broadcasting & rural connectivity, fixed & mobile satellite solutions, MPLS in Africa and Middle East. iSAT Africa’s various solutions including Terrestrial and Satellite Solutions, are backed by powerful Satellites, African Teleports and Headend infrastructure. iSAT Africa has its POP, integrated with fiber and satellite services, in more than 30 countries in Africa connecting to the rest of world. Its innovative solutions and resilient network are used by different verticals including Governments, TELCOS, media, multinationals, network companies and ISPs. With its subsidiaries in Kenya and Zambia and partners in various countries of Africa iSAT Africa is able to deliver the projects with complete satisfaction of the client. iSAT Africa works closely with its partners and service providers to create the best solutions for Data, Voice and Video type requirements for its customers using its satellite and terrestrial infrastructure. iSAT Africa’s mission is to transform the way Africa gets and stays connected with rest of the World through its carrier grade connectivity for voice, data and video applications increasing business opportunities in all kinds of diverse and challenging environments.www.isatafrica.com/
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
investors@clearbluetechnologies.com
www.clearbluetechnologies.com/en/investors
Nikhil Thadani, Sophic Capital
+1 437 836 9669
Nik@SophicCapital.com
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Forward-Looking Statement
This press release contains certain "forward-looking information" and/or "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’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 the project or future value of this project for any mentioned parties.
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