Crown Electrokinetics says active fiber construction underway in Arizona

Crown Electrokinetics released the following letter to its shareholders. “I wanted to take a moment and communicate with you today to let you know that we have active fiber construction underway in Arizona as part of our previously announced contract. While highly competitive bidding and contract award processes continue to preclude Crown from naming the customer, they remain one of the largest contractors in the United States with significant operations in Arizona and 19 other states. In addition to having construction underway, we are also aggressively working towards a further expansion of our customer base in Arizona, where we anticipate having multiple micro trenching projects possibly under way by the end of the calendar year. We look forward to sharing pictures and video of our current work on both our website and social media channels, in upcoming weeks. The entire team at Crown remain committed to executing the Company’s business plan targeting revenue growth and ultimately, profitability. We believe that tangible results should result in a realignment of our valuation to our improving fundamentals.”