New product unlocks two significant new markets for Clear Blue to drive growth in 2022
TORONTO, March 22, 2022 (GLOBE NEWSWIRE) — Clear Blue Technologies (TSXV: CBLU) announces the launch of its Smart “Pico-Grid” product, a revolutionary design for mission-critical Wi-Fi satellite and IoT applications. Pico-Grid builds upon Clear Blue’s patented cloud-based, smart off-grid systems, joining Clear Blue’s Nano-Grid and Illumient lighting products as the Company’s third product line which unlocks significant new markets.
As a cost-effective, fully managed, and uniquely designed power product that’s specifically designed for the ultra-low-power requirements of satellite Wi-Fi and IoT applications, Pico-Grid establishes new verticals for Clear Blue. The Company has already announced partnerships with two satellite service providers to drive connectivity services in Africa and this new product will enable additional partnerships and contracts with satellite service providers.
The global satellite internet market was estimated at US$2.93 billion in 2020 and is expected to grow at an annual rate of 20% from 2021 to 2030 to reach US$18.59 billion, according to Allied Market Research, a market research provider. The global market for IoT-focused satellite services, which includes end-device connectivity hardware and annual connectivity fees is expected to be worth US$5.9 billion by 2025, as 30.3 million satellite IoT devices are deployed globally.
“Clear Blue continues to lead the power revolution, enabling more services to go from wired power to fully wireless,” said Miriam Tuerk, co-founder and CEO of Clear Blue. “Pico-Grid gives us access to new markets in satellite Wi-Fi and IoT applications while empowering our customers to achieve lower costs and increased uptime through our managed Energy-as-a-Service (EaaS) offering. This enables our customers to provide reliable, wireless internet services, at the lowest cost, which in turn facilitates more end-users to get connected. The impact of this is unparalleled and will dramatically change the future of power and internet services.”
Pico-Grid is a complete, smart off-grid power system that includes solar, batteries and smart controls that are fully managed remotely from Clear Blue’s operations centre. Integral to all Clear Blue products is enhancing power reliability by matching anticipated future energy generation to on-site loads. This is done through Clear Blue’s advanced data analytics and patented energy forecasting which are provided to all customers as part of Clear Blue’s EaaS service contract.
As every Pico-Grid product comes with Clear Blue’s ongoing EaaS service, Clear Blue eliminates the need for customers to become power management experts. Clear Blue has established a first-mover advantage in its markets and a clear market leadership position with this technology with more than 8 million operating days and 9,000 global smart off-grid controllers deployed in 37 countries.
The Pico-Grid product begins shipping Q2, 2022. To learn more, click here.
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:
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.