Crown strengthens leadership team with appointment of Andrew Mayer as President of Crown Construction By Investing.com
Mr. Mayer brings over 45 years of experience in the pipeline industry with expertise in XXL diameter pipelines
Crown establishes a construction division offering fiber optics, lead pipe detection and XXL piping solutions
LOS ANGELES, Jan. 24, 2025 (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 announced the appointment of Andrew (Andy) Mayer as President of Crown Construction, effective immediately. This strategic hire reflects Crown’s commitment to providing innovative solutions to critical infrastructure challenges. Under Mr. Mayer’s direction, Crown’s Construction Division will provide fiber optic services, Element 82 lead pipe detection and XXL diameter pipeline solutions.
Andy Mayer is a seasoned piping industry professional with over 45 years of experience consulting, designing and building utility systems throughout Europe, Asia, the Middle East and North America. As a key member of British Gas, Mr. Mayer contributed to the development of state-of-the-art technologies and managed a program to replace 10 billion feet of pipeline.
Recently, Mr. Mayer was president of Murphy Pipelines, where he pioneered the advancement of trenchless technologies, including static pipe bursting methods, slip liners, and High Density Polyethylene (HDPE) CompressionFit methods. These techniques are widely recognized as environmentally sustainable and minimally destructive solutions for infrastructure rehabilitation. The work of Mr. Mayera has directly contributed to the successful rehabilitation of millions of feet of pipeline throughout North America.
He also has significant experience in disaster recovery, having played a key role in the recovery efforts following Hurricane Katrina, Hurricane Irma and the aftermath of 9/11. Mr. Mayer’s ability to manage complex projects under extraordinary circumstances underscores his leadership abilities.
With the appointment of Mr. Mayer, Crown will now offer XXL diameter HDPE pipeline solutions, with diameters greater than 54 inches. These HDPE pipes are essential for infrastructure renewal due to their exceptional durability, corrosion resistance and earthquake resistance. Tested to last over 100 years, they offer a higher flow capacity than traditional concrete pipes and can be produced in diameters up to 3.5 meters. Crown is uniquely positioned as the only contractor in the US equipped with fusion plates that can weld sections of HDPE pipe in miles of pipeline. These innovative solutions address critical water infrastructure challenges, ensuring reliable and sustainable water delivery for communities.
We are honored to have Andy join Crown, said Doug Croxall, Chief Executive Officer and President of Crown. His experience in the pipeline industry is truly unparalleled and his visionary leadership sets a new standard. Andy’s impressive track record in pipeline rehabilitation and trenchless technologies will be instrumental in advancing our mission of providing innovative and sustainable utility infrastructure solutions. His appointment underscores Crown’s commitment to excellence and industry leadership.
“I am thrilled to join Crown and lead its construction division in redefining infrastructure standards,” said Andy Mayer, President, Crown Construction. “Throughout my career in the pipeline industry, I have been committed to advancing technology and solutions to solve large-scale infrastructure projects. I am eager to bring my expertise and top-notch team to Crown to drive the division’s expansion. Together, we will tackle critical infrastructure challenges and redefine standards for reliability and performance.”
Crown recognizes the urgency of addressing California’s water crisis, especially in light of President Donald Trump’s recent statement regarding plans for an executive order to make water more accessible in the state. With innovative solutions such as XXL diameter HDPE pipelines, Crown is uniquely positioned to align with such initiatives, delivering sustainable infrastructure that meets the growing demands of Californians, agriculture and ecosystems, Mr. Croxall.
In addition to his professional achievements, Mr. Mayer has received several prestigious awards, including the PE Alliance Lifetime Achievement Award (2021), the Underground Construction Technology Association Most Valuable Professional Award (2010), and the AWWA President’s Award (2002). He is widely regarded as an industry advisor, where he continues to shape best-in-class standards and practices.
As part of his appointment, Mr. Mayer will be granted restricted stock units (RSU’s) with an expected value of approximately $4.5 million as an incentive award outside of Crown’s 2022 Employee Incentive Plan, pursuant to NASDAQ Listing Rule 5635(c)( 4 ). The vesting schedule will be as follows; Twenty-five percent (25%) of the RSUs will vest after the one-year anniversary of the Effective Date, with one-thirty-sixth (1/36) of the RSUs vesting at the end of each month thereafter, with the last tranche of RSUs vesting on the fourth anniversary of the Effective Date, subject in each case to the continued employment of the executive director until each such vesting date. The final details of the RSU incentive award will be confirmed by the Compensation Committee of the Board of Directors in the near future.
About the crown
Crown (Nasdaq: CRKN) is an innovative provider of infrastructure solutions dedicated to the well-being of communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics and Water Solutions, Crown develops and delivers cutting-edge solutions that challenge the status quo and redefine industry standards. For more information 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 Reform Act of 1995) in regarding future events or future financial results of Crown that involve certain contingencies and uncertainties, including those discussed in the annual report of Crown on Form 10-K for the year ended December 31, 2023 and subsequent reports Crown files with the 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 expressing our intentions, beliefs, expectations, strategies, predictions or any other statements regarding our future operations or other future events or conditions. These statements are based on current expectations, estimates and projections about our business that are based in part on management’s assumptions. 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 likely will, differ materially from those expressed or anticipated in the forward-looking statements due to a number of factors. All forward-looking statements speak only as of the date of this press release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
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