For the second year in a row, Clear Blue is recognized as one of Canada’s top growing companies with 116% growth
Clear Blue Technologies Recognized in The Globe and Mail’s Fourth-Annual Ranking of Canada’s Top Growing Companies
TORONTO, Sept. 23, 2022 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (“Clear Blue”) (TSXV: CBLU), the Smart Off-Grid™ Company, announces it was once again named amongst Canada’s top growing companies in the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Clear Blue Technologies earned its spot with a three-year growth of 116%. This recognition follows Clear Blue’s number 13 (of the 25 public companies) ranking in Corporate Knights’ Future 50: the Fastest Growing Sustainable Companies in Canada.
Clear Blue Technologies is a market leader in clean, managed, Smart Off-Grid power to meet the global need for reliable, low-cost, off-grid power for lighting, telecom, satellite Wi-Fi, Internet of Things devices, and other mission-critical systems. Recently, Clear Blue signed major partnerships with Avanti Wireless, Viasat, YahClick, Global Communications Extension Services. An independent study with Meta showed Smart Off-Grid had 40% lower costs than traditional solar off-grid systems.
“Our recognition by The Globe and Mail, for the second year in a row, shows the consistent upward growth of our company, the innovation of our team and our commitment to providing cost-effective and sustainable, Smart Off-Grid power for the world,” said Miriam Tuerk, CEO and co-Founder of Clear Blue.
“With the development of our new Pico-Grid power system for Wi-Fi and IoT, to complement our Nano-Grid power system for telecom, we have expanded our market potential. Currently, we have a large, global addressable market, and have identified an opportunity pipeline of $450 million, across the 37 countries where we currently operate. We look to expand beyond this with new opportunities in the satellite Wi-Fi market. As we indicated in our Q2 2022 MD&A, the wireless cellphone market is currently the Company’s largest growth opportunity, and the global market for Telecom Tower Power systems will grow from USD 3.9 billion in 2022 to USD 5.4 billion by 2027, at a 7.1% CAGR from 2022 to 2027. (Researchandmarkets.com). With our current market share under 1% within this addressable market and our outstanding team, we have a long runway for revenue growth.”
About Canada’s Top Growing Companies
Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to celebrate the boldest entrepreneurial achievement by identifying and bringing the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program, companies had to complete an in-depth application process and fulfill requirements. In total, 430 companies earned a spot on this year’s ranking.
The full list of 2022 winners along with editorial coverage is published in the October issue of Report on Business magazine. The list is out now and online here.
“Canada’s Top Growing Companies recognizes the tremendous ambition and innovation of entrepreneurs in Canada,” says Dawn Calleja, Editor of Report on Business magazine. “The next generation of Canadian businesses can draw inspiration from this ranking.”
“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “The Globe and Mail congratulates them on their achievements.”
About Clear Blue Technologies
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)
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.
About The Globe and Mail
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.3 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e19cf5f2-7bcd-4642-8033-7c8fcef378f7