Working capital will allow Clear Blue Technologies to focus on product development and market expansion
OTTAWA, March 27, 2019 /CNW/ - Today, Export Development Canada (EDC) is pleased to announce it provided a guarantee to support a $1 million credit facility extended by a Canadian bank to Clear Blue Technologies – a Canadian cleantech company that helps remotely manage and control power for critical infrastructure in 35 countries worldwide.
"For promising cleantech companies like Clear Blue Technologies, we know that with the right support they can seize incredible growth opportunities through international trade," said Carl Burlock, Senior Vice-President of Financing and International Growth Capital at EDC. "We are dedicated to supporting Canadian cleantech companies, providing them with knowledge and financial solutions to help them succeed internationally."
The innovative engineers at Clear Blue Technologies developed smart off-grid technology that remotely manages, monitors and controls wind, solar, and hybrid-powered systems such as a telecom tower, street light, or security camera. Its technology has already helped bring internet and cell service to people in the Amazon rainforest and in isolated parts of Africa.
EDC is providing Clear Blue Technologies with financial solutions through its Export Guarantee Program, knowledge services, and international connections to help support its global growth goals.
"EDC has been at the table helping us build our company from an early stage. The support we have received will provide us with working capital flexibility to deliver on larger orders, adding to our growth this year," said Miriam Tuerk, Clear Blue Technologies Co-founder and CEO. "In emerging markets, financing isn't an afterthought, it has to be part of your deal, so having EDC by our side makes a significant difference."
EDC is Canada's largest financier of clean technology companies, having provided $2 billion worth of export support in 2018. Supporting this innovative and fast-growing sector of the Canadian economy has been a priority for EDC since 2012.
About Clear Blue Technologies International
Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, "wireless power" to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, it has thousands of systems under management across 35 countries, including the U.S. and Canada. Clear Blue (CBLU) is listed on the TSXV.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to take on the world with confidence. Underlying all our support is a commitment to sustainable and responsible business.
For more information and to learn how we can help your company, call us at
1-888-434-8508 or visit www.edc.ca.
SOURCE Export Development Canada