Crown ElectroKinetics (CRKN) said Friday it has secured rights to deploy Electro Scan's lead detection device, the Swordfish, across 48 US states under an exclusive partnership.
"This partnership firmly positions Crown's Element 82 as a leader in lead pipe detection solutions," the company said.
Element 82 uses Swordfish devices to provide municipalities and utilities with a solution to detect lead and galvanized water services, ensuring safer and more efficient water infrastructure management, the firm said.
Crown said it expects Element 82 to play a "significant" role in contributing to its full year 2025 revenue guidance of $30 million to $35 million, pointing to the "strategic value" of this collaboration.
Shares of the company were up over 75% in recent trading.
Price: 0.14, Change: +0.06, Percent Change: +75.66