Canadian Coast Guard Renews Standing Offer for Carmanah Marine Lanterns
Longtime Carmanah distributor (Go Deep International) to supply new Carmanah M800 Series and enhanced M650 solar led lanterns
VICTORIA, British Columbia--(BUSINESS WIRE)-- Carmanah Technologies Corporation (TSX: CMH), through marine distributor Go Deep International Inc., has been awarded a National Standing Offer to supply marine aids-to-navigation (AtoN) and service to the Department of Fisheries and Oceans, Canadian Coast Guard (CCG). The initial two-year offer is valued at a total $632,000 with optional extension to a third year. The award represents an opportunity to supply up to 900 units of the newly launched Carmanah M800 series lanterns and Carmanah M650H (high-efficiency) lanterns starting immediately.
For Carmanah and Go Deep, the award demonstrates the trust that Canadian Coast Guard places in both companies who have held National Standing Offers with the CCG during each of the last fifteen years.
This latest award is also a testament to Carmanah's ongoing development and support of successive product improvements. The introduction of the M800 series and enhancements to the popular M650 series lantern allowed Go Deep to submit winning bids for lanterns capable of covering ranges from 1.5 to 5 nautical miles. The self-contained solar LED lanterns will be used year-round on Canadian waterways at locations as far North as Prince Rupert, BC and St. Anthonys, Newfoundland.
"The Canadian Coast Guard has rigorous standards for selecting aids-to-navigation. The renewal of this standing offer and the selection of the new M800 series validates our position as a leader in marine lantern technology," said Carmanah CEO Bruce Cousins. "We are honoured to continue providing solutions to the Canadian Coast Guard through our longtime and valued partners at Go Deep."
Carmanah developed the very first solar LED lantern with the help of the Coast Guard and Go Deep over 15 years ago. Since then, Carmanah lanterns have benefited the Canadian Coast Guard and customers around the world at over 500,000 installations.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. Carmanah pursues its business strategy within six distinctive product offerings: outdoor lighting, marine signal, aviation signals, traffic signals, grid-tie and mobile. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH". For more information, visit www.carmanah.com.
Carmanah Technologies Corporation
Roland Sartorius, Chief Financial Officer
For further information:
Investor Relations: Roland Sartorius
Public Relations: Natasha Bartlett
This news release contains "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements are generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. Forward-looking statements in this news release include statements about the reliability and attributes of Carmanah's solar LED lights and solar power systems; and Carmanah's strategy, future operations, prospects and the plans of management; additional product sales opportunities; increased top line revenue; and extending existing product lines through internal development efforts, strategic business relationships as well as focused acquisitions.
With respect to the forward-looking statements contained in this news release, Carmanah has made numerous assumptions regarding, among other things, that the Company's proprietary solution presented a compelling off-grid, sustainable lighting solution; and additional product sales result in increased top line revenues. While Carmanah considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Carmanah's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained herein. Known risk factors include, among others: the products contemplated in this salemay not be completed or function as currently anticipated, or the installations may not be completed in the timeframe contemplated and general risks related to the competitive environment, competition with other energy sources, technological changes, anticipated adoption rates for Off-Grid LED lighting; ability to manage expansion effectively, foreign exchange, reliance on third party manufacturers, reliance on outside agents and distributors, reliance on key employees, intellectual property risks, environmental and regulatory compliance, government contracts and subsidies, product quality and reliability and warranty liability risk, downturn in economic and market conditions, liquidity and capital requirements, litigation risk, potential reorganization of operations or product offerings, and geopolitical and other global or local events; there can be no assurances that the Company can increase or maintain current top line revenue; there can be no assurances that the Company will achieve additional product sales; and there can be no assurances the Company can extend existing product lines through internal development efforts, strategic business relationships and focused acquisitions.
A more complete discussion of the risks and uncertainties facing Carmanah appears in Carmanah's most recently filed Annual Information Form, Annual MD&A, and other continuous disclosure filings which are available on SEDAR atwww.sedar.comand on the Company's website at Carmanah disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
KEYWORDS: United States North America Canada Washington
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