Crown Electrokinetics: Slant wells may add $20M of revenue over next 15 months

Crown Electrokinetics released the following letter to its shareholders. “Dear Fellow Shareholders, I wanted to write you today to provide an update on our project in Cabo San Lucas Mexico, where we were previously selected to install two “slant wells” for Vista Serena. This project is unique because, with our proprietary design, these will be the first wells of their kind. Our process allows coastal communities that have difficulty obtaining water through traditional drilling methods to intake a large volume of water efficiently. Although there are still certain limiting subsurface factors, this new technique is very versatile and can be adapted to many different environments. This process for slant wells has unlocked extraordinary growth potential for Crown, with many developers having already been in contact with our team. These developers, many who had previously been forced to abandon projects due to the inability to get a reliable water source, now have a solution. We are changing the way that landowners, resort operators, developers, and municipalities view the water crisis in the Baja Peninsula. We look forward to leveraging our process and know how to continue to expand our footprint, bringing our solution to places like the Virgin Islands, Latin America, Africa, the South Pacific, and the Middle East. Crown believes that our approach to slant wells could add approximately $20M of revenue over the next 15 months. Jason Erickson, Chief Operating Officer and Executive VP of TSG Water states, “We are very excited that Crown has brought this technology to the Baja Peninsula, where finding sources of reliable feed water for the production of potable water is becoming increasingly more difficult.”