CleanSpark Announces an Additional $177,000 Equipment Order
February 13 2020 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK), a diversified software development
and intelligent energy services company, is pleased to announce
that it has received a follow-on order for the company’s generator
breaker panels, to function within a distributed energy system
configured with other CleanSpark components and technologies.
CleanSpark Chairman, Matthew Schultz stated “With this equipment
order, our contracted equipment order pipeline slated for 2020
delivery is in excess of $5,100,000, thus far. Overall, the
company forecasts that equipment orders will reach $7,000,000 for
2020 which would represent a 100% increase in equipment sales for
fiscal 2019.” In addition to the rapidly growing equipment
orders under contract, the Company also highlighted its recent
financial and operational performance in a letter to shareholders,
dated February 11, 2020.
Included in the highlighted financial and operational
performance were the following:
- Quarter ending December 31, 2019 Revenue of $976,824, up 372%
from $262,907 in 2018.
- Quarter ending December 31, 2019 Gross profit increased 238% to
$94,103, up from $39,581 in 2018.
- Quarter ending December 31, 2019 Net loss per share improved by
$0.23 per share to $(0.40) from $(0.63) in 2018.
- CleanSpark announced a 10-year exclusive agreement with
International Land Alliance (ILAL). The agreement calls for
CleanSpark to provide its microgrid Value Stream
Optimizer (mVSO) software services to support system design
and engineering as well as integrating CleanSpark’s mPULSE software
into the final systems on all future energy projects across the
ILAL portfolio of properties. We are currently working with ILAL on
two initial feasibilities studies and we anticipate that in 2020 we
will recognize at least $200,000 in related revenue with a large
increase expected in 2021 as ILAL’s development efforts begin to
accelerate.
- CleanSpark announced the signing of a Memorandum of
Understanding (“MOU”) with the Shoreline Unified School District of
Sonoma, California to form a Strategic Alliance for Microgrid
Assessment and Deployment. In accordance with the MOU,
CleanSpark will evaluate two stages of grid resiliency for the
District. The intended Resiliency Zones would utilize Solar Energy,
Storage and Back-up Generation controlled by our mPulse controls
platform to meet the School District’s energy needs and provide
back-up energy to the surrounding communities during
emergencies.
- Release of new features and improvements to our SaaS Microgrid
Value Stream Optimizer (mVSO) platform, which includes the enhanced
equipment library, the ability to run scenario comparisons and
upload site plans. We believe these features further distinguish
CleanSpark as a market leader in the space.
- Release of new features and improvements to our mPulse Controls
platform, which includes enhanced reporting and the release of a
low costs ‘light-version’ for smaller systems. We expect this
enhancement to further allow us to not only compete on price but
also on functionality.
Parties interested in learning more about CleanSpark’s products,
services and proprietary technologies are encouraged to inquire by
contacting the Company directly at info@cleanspark.com or
visiting the Company’s website at www.Cleanspark.com
About CleanSpark:
CleanSpark a software and services company which offers software
and intelligent controls for microgrid and distributed energy
resource management systems and innovative software marketing and
design services. The Company provides advanced energy
software and control technology that allows energy users to obtain
resiliency and economic optimization. Our software is uniquely
capable of enabling a microgrid to be scaled to the user's specific
needs and can be widely implemented across commercial, industrial,
military, agricultural and municipal deployment. Our product and
services consist of intelligent energy controls, microgrid modeling
software, and innovation consulting services in design, technology,
and business process methodologies to help transform and grow
businesses.
Forward-Looking Statements:
CleanSpark cautions you that statements in this press release
that are not a description of historical facts are forward-looking
statements. These statements are based on CleanSpark's current
beliefs and expectations. The inclusion of forward-looking
statements should not be regarded as a representation by CleanSpark
that any of our plans will be achieved. Actual results may differ
from those set forth in this press release due to the risk and
uncertainties inherent in our business, including, without
limitation: the expectations of future growth may not be realized,
timing of deliveries, demand for our services, hardware and
software products; and other risks described in our prior press
releases and in our filings with the Securities and Exchange
Commission (SEC), including under the heading "Risk Factors" in our
Annual Report on Form 10-K and any subsequent filings with the SEC.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and we undertake no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Shawn Severson
Integra Investor Relations
(415) 233-7094
info@integra-ir.com
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