Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V) has announced the formation of SIA CiTech Europe, a wholly owned subsidiary in Latvia, as part of its strategy to establish a European headquarters and manufacturing facility. The company plans to locate the facility in the Special Economic Zone (SEZ) in Liepaja, a port city on Latvia's western coast, which offers a corporate tax rate of 4%. This move positions CiTech to leverage the region's logistical advantages and strategic location within the European Union.
CiTech has engaged in high-level discussions with key Latvian stakeholders, including the Ministry of Defence, Ministry of Foreign Affairs, Latvian Investment and Development Agency (LIAA), Armed Forces Command, Liepaja Local Government, and the Liepaja Special Economic Zone Agency. These engagements confirmed Latvia's attractiveness as the home for the company's European operations, according to CEO Brenton Scott. The establishment of SIA CiTech Europe strengthens CiTech's international footprint and represents a long-term commitment to Europe.
The company's first product, the Nexus 16, is an autonomous, high-capacity mobile communications platform designed for rapid deployment. It targets sectors such as mining, defence, border security and surveillance, and emergency services. The self-deploying platform (SDP) uses patented technologies to overcome limitations in current rapidly deployable communication solutions, including tower strength and ability to self-deploy. The SDP supports LTE and other technological payloads, such as surveillance and anti-drone systems.
CiTech has completed the research and development phase and is now commercializing the Nexus 16. The company is listed on the CSE with operations in Perth, Western Australia. More information is available at www.citech.com.au.
Forward-looking information in this release is based on management's assumptions and expectations, and actual results may differ materially due to risks and uncertainties. The company disclaims any obligation to update forward-looking information except as required by law.
