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Lead and Copper Rule Improvement (LCRI) Legislation Excluded From U.S. Environmental Protection Agency's (EPA) Regulatory Freeze
Element 82 and PE Pipelines Well-Positioned for Continued Strong Demand
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LOS ANGELES, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today highlighted the potential impact of the incoming Trump administration on its lead pipe detection and remediation businesses, Element 82 and PE Pipelines.
While many new EPA programs may face a regulatory freeze on January 20, 2025, the finalized LCRI legislation, effective December 30, 2024, will remain intact. This stability ensures continued progress in identifying and replacing lead service lines nationwide.
Further, the Trump administration is expected to prioritize critical water infrastructure challenges, including drinking water safety and lead pipe remediation. It was the 2016 Trump administration that revitalized the 1991 Lead and Copper Rule (LCR) laying the groundwork for the Lead and Copper Rule Revisions (LCRR) that were finalized in 2021.
“Americans deserve safe, reliable drinking water, and we’re proud that Crown’s Element 82 and PE Pipelines businesses are playing a key role in achieving that vision,” said Doug Croxall, CEO and Chairman, Crown. “The Trump administration has historically demonstrated a commitment to improving water infrastructure as seen with its 2016 efforts to modernize the LCR. With water safety remaining a national priority, we’re encouraged by the potential for increased attention and funding under the incoming administration. We believe that the opportunity for our innovative lead pipe identification and remediation solutions remains robust now and through the next presidential term.”
In order to support the strong demand for Crown’s innovative solutions, the Company continues to explore all funding options including reinstating its Equity Line of Credit (ELOC) to ensure access to all forms of capital sources.
About Crown
Crown (Nasdaq: CRKN) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit www.crownek.com.
Forward Looking Statements
Certain statements in this news release may be "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown’s future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” . Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
For more information, please contact:
Investor Relations
info@crownek.com
