Clear Blue Technologies Closes C$1.85 Million Equity Financing And Will Achieve 300% Sales Growth In 2015

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Clear Blue Technologies, the Smart Off-Grid Company, has closed a private placement offering, bringing the total funding raised by Clear Blue in 2015 to approximately C$2.3 Million for the year. For 2015, the company will achieve 300% sales growth, and now has over 100 customers and 500 off-grid systems installed in 18 countries across the world.

Clear Blue Smart Off-Grid Technology

2015 has been an amazing year of growth and technology advancement, and the credit goes to our employees, partners, and investors.

Clear Blue Technologies Inc. (“Clear Blue” or the “Company”), the Smart Off-Grid Company, is pleased to announce that it has closed a private placement offering (the “Offering”) for gross proceeds of C$1.85 Million. This latest round of financing was led by Haywood Securities Inc. (“Haywood”), one of Canada's leading independent investment dealers with more than 275 employees in its Canadian offices in Vancouver, Calgary and Toronto. The completion of the latest investment brings the total funding raised by Clear Blue to approximately C$2.3 Million for the year and the Company is fully funded for all planned operations in 2016.

Changes to the Board of Directors

The Company also announces that Mr. Andy Keith, an entrepreneur and founder of two utility-scale solar energy companies in Ontario, has joined the Clear Blue board of directors. Mr. Keith has been an active participant in shaping and promoting Ontario’s renewable energy sector and is also a frequent lecturer at the University of Toronto master's program and industry conferences on the economics and future of solar energy.

2015 Highlights

2015 marks a year of significant growth and advancement for Clear Blue across all aspects of its business:

  •     Sales Growth + 300% in 2015

Clear Blue now has over 100 customers and 500 off-grid systems installed in 18 countries across the world. Its installations include solar and wind powered streetlights, security systems, emergency power and other off-grid devices. Clear Blue sells through OEMs who integrate Clear Blue hardware and software into their own products, and through a network of agents and resellers who sell the Illumient line of Smart Off-Grid streetlights. Illumient lighting combines components from Clear Blue with those of our partners StressCrete and Millerbernd Manufacturing Company.

  •     Launch of Illumience

Illumience is the second generation of Clear Blue's cloud-based software system, providing management, control and proactive servicing of the off-grid systems over the Internet. Illumience's Smart Off-Grid capabilities are unmatched by any other provider in the market.

  •     Industry recognition

Clear Blue co-founders John Tuerk, Mark Windrim and Miriam Tuerk were honored with the Clean50 award, which recognizes those who have done the most to advance the cause of sustainability and clean capitalism in Canada over the past 2 years. Clear Blue was also named a Mind-to-Market award winner by the Ontario Centres of Excellence (“OCE”) that celebrates the best OCE-supported research collaboration between the business and research communities resulting in effective commercialization of leading edge ideas and solutions.

  •     Strategic partnership

Clear Blue was selected by UGE, a global leader in distributed solar energy, to become the exclusive provider for off-grid lighting to UGE partners and customers.

Miriam Tuerk, CEO of Clear Blue, said "In 2015, Clear Blue achieved many important milestones that helped the Company transition from a start-up to a fast growing young company. It has been an amazing year, and the credit goes to our employees, partners, and investors, all of whom helped make this happen. We look forward to another year of tremendous progress and growth in 2016."

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Susan Davis
@clearblueonline
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