Clear Blue Technologies Announces $4-Million Government of Canada Financing
Summary
TORONTO, June 28, 2022 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (Clear Blue and the Company) (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF), the Smart Off-Grid Company, announces $4-million in Government of Canada support through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This funding will allow Clear Blue to expand its production capacity, support the commercialization of its new Pico-Grid technology, and enhance its sales and marketing strategies.The financing will be drawn upon over a 21-month period until March 2024. Pico-Grid, announced earlier in 2022 is expected to launch by the end of 2022.As the demand for sustainable, renewable, and cleaner energy sources continues to increase, more Canadian companies have risen to the challenge and are leading the way to change. Our team has worked diligently with FedDev Ontario since last September to secure this funding, which beyond accelerating our new product development and deployment, will also free existing capital on our balance sheet that can now be utilized towards further scaling our existing product lines, enabling us to execute against our pipeline of sustainable, Smart Off-Grid Power opportunities.For more than 12 years, the Government of Canada, through FedDev Ontario has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canadas most populous region. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)Monica GranadosPress Secretary Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontariomonica.granados@feddevontario.gc.caNeither 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.This press release contains certain "forward-looking information" and/or "forward-looking statements" within the meaning of applicable securities laws.