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Independent Reviews for Venture Investors

CBLU.V - Bright.

Clear Blue Technologies Intl Inc. (CBLU.V) delivers clean, managed, “wireless power” to meet the global need for reliable, low-cost, off-grid power.

CBLU.V develops and sells "Smart Off-Grid" power solutions and management services to control, monitor, manage, and proactively service solar and hybrid-powered systems such as street lights, security systems, telecommunications systems, emergency power, and IoT devices.

The company offers a number of innovative products: Solar Controller, Solar and Wind Controller, Telecom Power Pack, Illuminence Cloud Control (Demo Video is worth a look), Nano-Grid Power Pack, and IOT solutions. These are likely to drive more demand in the future.

According to Transparency Market Research the Global Solar Street Lighting (SLL) Market is estimated to grow at 23.23% CAGR 2016-2024, with potential spending up to US$17.78 bn by 2024. The report states: " One of the most important fundamentals involved with SSL is the fact that they provide a viable solution to street lighting in any terrain, irrespective of whether there is grid connectivity to that location or not.

Secondly, they reduce energy load on the economy leading to more fiscal savings for the government, as well as the taxpayers. Solar street lights also give the benefit of having negligible maintenance cost, no wiring or transformer costs, as well as, reduction in carbon footprint."

A recent Mackenzie Wood report further outlines the opportunity; 71% of new electric connections will be off-grid or mini-grid by 2030.

Since its IPO (July 19, 2018) on the TSX Venture, CBLU.V has made announcement on projects with IDSUD Energies in Morocco, Raeanna in Nigeria, Telefonica in Peru, as well as with numerous municipalities in across Canada and the USA. Here's a detailed update from the last six months.

Nov. 7 - Smart Off-Grid Lights Illuminate Waterfront in Algonac, Michigan. Project of $248K ($325K CAD) included the purchase, installation, and remote management of 20 Illumient Smart Off-Grid street lights.

Nov. 14 - Lists on Frankfurt Stock Exchange. Initiated trading on November 13, 2018 under the symbol 0YA (WKN: A2JRJ2 / ISIN: CA18453C1077).

Nov. 20 - Partner with BRCK to Serve the Next Billion Internet Users. Selected as the power service provider for BRCK, a Kenyan technology internet provider. CBLU.V will provide BRCK with its Smart Off-Grid technology and service for a multi-year rollout of thousands of WiFi hotspots across Africa. Project start date is 2019 and will run through 2024.

Both BRCK and Clear Blue are also part of the Telecom Infra Project, founded by Facebook, Intel, Nokia, SK Telecom, and Deutsche Telekom.

Nov. 27 - Achieves Revenue Growth of 283% in Q3 2018 on Trailing Four Quarter Basis Trailing Four Quarters (TFQ) Revenue was $4.46M.

Short-term variability related to size and timing of new contracts is expected, with variability reduced through further diversification of customers. Investors should expect continued variable quarterly revenue, due to differences in the size and timing of new contracts.

Clear Blue has retained German Research GmbH (“German Research”) as its investor relations consultant in Germany for a period of 12 months and can be terminated by either party on 30 days’ notice in writing. $4000/month + 100,000 options at $0.49 cents.

Jan. 7 - Makes Lithium Batteries Smarter, Expands Product Line. CBLU.V's Smart Off-Grid power systems now include lithium iron phosphate (LiFePO4) batteries within Clear Blue’s telecom, lighting, and IoT Smart Off-Grid power packs.

Jan. 15 - Illuminates Toronto’s Bloor Street with Smart City Lighting Systems. Announced that 40 of its Illumient solar-powered street lights have been installed along Bloor Street West in Toronto. These smart city lighting systems will also host Wi-Fi for the area.

The project value to Clear Blue exceeded $0.4M, and includes management services via the Illumience cloud software.

Jan. 30 - Wirelessly Power Lights at Over 50 North Dakota Intersections. The initial three phases of installations are complete, with 16 lights already in use at rural intersections across the State. The remaining 34 lights are expected to be installed in two phases during 2019.

Completed in partnership with Luma Sales, project include CBLU.V's Smart Off-Grid Power Packs, monitoring and management services.

Feb. 25 - Completes $1 Million First Tranche Equity Capital Raise. Non-brokered private placement at $0.25 per unit, for gross proceeds of $1,0M. Additionally, CBLU.V closed on a $1.15M operating line and credit facility provided by a Canadian Schedule I bank with the support of EDC.

CBLU.V is also working to secure additional research and development (“R&D”) grant funding in 2019. The Company has previously been successful in obtaining R&D grants between $0.25M - $0.5M annually, and its aiming to achieve a similar level of grant funding in 2019.

CBLU.V expects to complete additional tranches for gross proceeds of up to $2.5M within the next few weeks.

Each warrant will be exercisable at a price of $0.50 per share for a period of 36 months following the closing.

Mar. 20 - The City of Mississauga by-pass the Grid. Announced the installation of its Smart Off-Grid Illumient lighting systems. The project in Duncairn Downs Park, located in the Erin Mills Community, was completed late last year.

Mar. 25 - Closes $2.67 Million Equity Capital Raise. Completed the final tranche of a non-brokered private placement of units (each, a "Unit") at a price of $0.25 per Unit, for gross proceeds of $1,6M. With the addition of its initial tranche equity capital raise, announced on February 25, 2019, the total proceeds under the offering are $2,6M. Each warrant will be exercisable at $0.50 cents,

Apr. 4 - Lights Up the City of Hamilton With Wireless Power. Announced its collaboration with Tymat Solutions (“Tymat”) to illuminate pathways along Mohawk Road East and Eringate Park for the City of Hamilton, Ontario using Clear Blue’s Illumient Smart Off-Grid lighting systems.

Apr. 18 - Smart City Lights Replace The Grid In Long Island Project. Announced its collaboration with Pullman SST, Inc. to illuminate the top level of a 1,400 space parking garage in Hicksville, New York, for the Town of Oyster Bay, using CBLU.V's Illumient Smart Off-Grid lighting systems.

May 1 - Delay in Filing its 2018 Annual Financial Statements. Due to the change in the Company's auditor from MNP LLP to Crowe Soberman LLP, CBLU.V expects to file the Annual Filings no later than May 31, 2019.

As evidence by the charts, FY 2018 Q3 Earnings (Nov. 27, 2018) were not well received by the market. CBLU.V was wise to issue some guidance: Investors should expect continued variable quarterly revenue, due to differences in the size and timing of new contracts. The timing was unfortunate as December 2018 was a difficult month on the Venture. However, CBLU.V was not able to recover in Q1 2019.

Notably, the private placement announcement dated Feb. 25 2019 ($0.25 cents), formed a baseline from which the stock has traded. While CBLU.V has made a number of announcements since, the recent notice of delay regarding the Q4 and Year End Earnings has dimmed valuation.

Nonetheless, despite the current circumstances, we believe that the future for CBLU.V can be bright.

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The content of rally is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions - rally cannot take responsibility for your investment decisions.


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