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    FLN   AU000000FLN2

FREELANCER LIMITED

(FLN)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

PRESS RELEASE: FREELANCER.COM PARTNERS WITH THE BUREAU OF RECLAMATION AND NASA TO IMPROVE HYDROPOWER SYSTEM RELIABILITY

06/21/2021 | 07:01am EDT
DGAP-News: Freelancer.com 
FREELANCER.COM PARTNERS WITH THE BUREAU OF RECLAMATION AND NASA TO IMPROVE HYDROPOWER SYSTEM RELIABILITY 
2021-06-21 / 13:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Freelancer Limited (ASX: FLN), the world's largest freelancing and crowdsourcing marketplace, in partnership with Arrow 
Electronics, one of the world's largest electronic components distributors, has secured the USUSD250,000 Automated 
Maintenance of Protection Systems Challenge, for the Bureau of Reclamation. 
The aim of the challenge is to improve the reliability of hydropower plant generation by automating safety equipment 
testing and reducing plant downtime. Using the Freelancer.com and ArrowPlus platforms are expected to attract a large 
number of candidates offering a variety of viable solutions. 
'We're excited to deliver the Automated Maintenance of Protection Systems Challenge (AMPS Challenge) for the Bureau of 
Reclamation using the world's largest online talent pool of electronic & electrical engineers in what will be the 
largest challenge yet by an order of magnitude - a quarter of a million US dollars in prize money. If you have the 
skills, sign up now to Freelancer.com to participate', said Freelancer Chief Executive, Matt Barrie. 
Freelancer has broad expertise in engineering with over 2.5 million freelance engineers on its platform, 260,000 who 
specialize in electrical engineering. There are also millions of tangentially skilled experts including software, 
hardware, and firmware developers. Freelancer.com has sourced over 13,000 product designs from more than 6,000 
designers in contests run on behalf of NASA. 
Freelancer built and operates ArrowPlus the world's largest electrical and electronic engineering crowdsourcing 
platform which 175,000 leading technology manufacturers and service providers access to guide innovation. 
The Bureau of Reclamation's AMPS Challenge will be a two-phase challenge seeking improvements and/or fresh concepts to 
automate protection system testing at Reclamation hydropower facilities: a White Paper Challenge and a Prototype 
Challenge. 
The White Paper Challenge offers a total prize of USD100,000, expecting to award up to 10 prizes of USD10,000 each. 
In the Prototype Challenge, commencing immediately after the White Paper Challenge ends, the best prototype will be 
awarded up to USD100,000 prize. In addition, USD10,000 awards will be presented for teams that excel in individual 
benchmarks for a total prototype purse of USD150,000. 
See https://www.freelancer.com/reclamation for more details. 
This is the first task order won by Freelancer under the USUSD25 million NOIS2 joint tender and is valued at USUSD365,000. 
About the Bureau of Reclamation 
Established in 1902, the Bureau of Reclamation is best known for the dams, powerplants, and canals it constructed in 
the 17 western states. These water projects led to homesteading and promoted the economic development of the West. 
Reclamation has constructed more than 600 dams and reservoirs including Hoover Dam on the Colorado River and Grand 
Coulee on the Columbia River. 
The Bureau of Reclamation is the largest wholesaler of water in the USA. It brings water to more than 31 million people 
and provides one out of five Western farmers (140,000) with irrigation water for 10 million acres of farmland. 
Reclamation is also the second-largest producer of hydroelectric power in the United States. Its 53 power plants 
annually provide more than 40 billion kilowatt-hours generating nearly a billion dollars in power revenues and produce 
enough electricity to serve 3.5 million homes. 
About Freelancer (R) 
Twelve-time Webby award-winning Freelancer.com is the world's largest freelancing and 
crowdsourcing marketplace by total number of users and jobs posted. More than 53 million 
registered users have posted over 20 million jobs and contests to date in over 1,800 areas as 
diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace 
engineering and manufacturing. 
Freelancer owns StartCon, Australia's largest startup conference, expo and entrepreneur 
community established in 2009, WarriorForum.com, the world's largest Internet marketing 
community & marketplace, Escrow.com, the world's largest provider of secure online escrow 
and online transaction management for consumers and businesses on the Internet, and 
Freightlancer, a global marketplace for freight, shipping and transportation. Freelancer Limited is listed on the 
Australian Securities Exchange under the ticker ASX:FLN, and on the OTCQX, under the ticker OTCQX:FLNCF. 
Contact Details 
Freelancer.com 
Sebastian Siseles 
+1 415-801-2271 
sebastian@freelancer.com 
Freelancer.com 
Helma Kusuma 
+19179202356 
helma@freelancer.com 
Company Website 
https://www.freelancer.com 
News Source: News Direct 
=---------------------------------------------------------------------------------------------------------------------- 
2021-06-21 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Freelancer.com 
              United States 
ISIN:         AU000000FLN2 
EQS News ID:  1210222 
 
End of News   DGAP News Service 
=------------ 

1210222 2021-06-21

 
Image link: 
https%3a%2f%2fpublic.newsdirect.com%2f829208615%2fc098iNkA.png 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1210222&application_name=news 
 

(END) Dow Jones Newswires

June 21, 2021 07:00 ET (11:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ARROW ELECTRONICS, INC. 0.19% 120.32 Delayed Quote.23.46%
ASX LIMITED 0.60% 81.58 End-of-day quote.13.31%
DJ INDUSTRIAL 0.07% 35670.61 Delayed Quote.16.57%
FREELANCER LIMITED 0.66% 0.76 End-of-day quote.56.70%
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Financials
Sales 2020 58,8 M 44,0 M 44,0 M
Net income 2020 -0,65 M -0,48 M -0,48 M
Net cash 2020 9,33 M 6,98 M 6,98 M
P/E ratio 2020 -338x
Yield 2020 -
Capitalization 344 M 257 M 257 M
EV / Sales 2019 4,43x
EV / Sales 2020 3,58x
Nbr of Employees 419
Free-Float 16,8%
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Managers and Directors
Robert Matthew Barrie Executive Chairman & Chief Executive Officer
Neil Leonard Katz Chief Financial Officer & Secretary
Jun Yao Vice President-Engineering
Yves Sy Associate Vice President-Technical Operations
Thomas George Compliance Director
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