Clear Blue Technologies signs a MOU for a $2M CAD contract
by CM Staff
The first 30 systems will ship in Q1 2022 and the remainder of the project is subject to iSAT successfully concluding financing for the remaining rollout.
TORONTO — Clear Blue Technologies International Inc., a Smart Off-Grid Company, announced that it has entered a memorandum of understanding (MOU), signed on February 25, 2022, with iSAT Africa, an integrated communications services provider serving Africa and the Middle East. iSAT Africa has also selected Clear Blue as its preferred partner for Smart, Solar Off-Grid power. The MOU also calls for Clear Blue to provide a minimum of 300 off-grid, remote power systems for satellite and cell phone services in 4 countries in Africa, to be ordered by the end of Q1 2023. This order is worth an initial amount of C$2 million and has an estimated 5-year Life-Time Contract Value, which includes capacity upgrades and ongoing service management by Clear Blue, of C$3 million. The first 30 systems will ship in Q1 2022 and the remainder of the project is subject to iSAT successfully concluding financing for the remaining rollout.
“Clear Blue Technologies is the market leader in providing smart, reliable, off-grid power for mission critical telecom infrastructure,” said Rakesh Kukreja, founder and Managing Director of iSAT Africa. “Through a number of previous deployments with Clear Blue, we have seen the strength of Clear Blue’s technology and the positive impact it has on our business model and service to our customers.”
“iSAT Africa is a key partner in bringing connectivity to the unconnected throughout Africa. They have a number of deployments in numerous countries already, and we are thrilled to be working with them on this project and hopefully many more to come in the future,” said Miriam Tuerk, cofounder and CEO of Clear Blue. “Their commitment to transforming the way Africa gets and stays connected with rest of the world aligns tightly with our vision of delivering clean, managed, off-grid, wireless power for critical satellite systems, which improve connectivity, unlocking previously unrecognized economic and human potential.”
The economic need to provide telecommunication services to underserved populations remains a key driver across Africa. Mordor Intelligence indicates that to meet the growing telecom demand for services globally, over US$4.47 billion in spending on powering telecom tower rollouts will occur in 2022, growing to US$5.25 billion in 2025, a 3.25% CAGR.