CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”),
a diversified software, services, and bitcoin mining company,
today announced the operating results of a microgrid project
recently commissioned in San Diego. The Company and its
wholly-owned subsidiary, Solar Watt Solutions, partnered with RSI
Roofing on implementation of the solar-plus-storage microgrid
system.
The microgrid project was designed for WS Display/San Diego Sign
Company to provide economic optimization and cost avoidance, as
well as cleaner energy for their facility. Once the energy systems
were deployed, a 75-80% reduction in monthly energy costs was
realized by the customer during the first month of operation.
To satisfy the preliminary requirements set forth by San Diego
Gas and Electric (SDG&E) and the California Energy Commission
(CEC) for NEM paired storage systems, CleanSpark’s mPulse microgrid
control system was tested and approved by a National Recognized
Testing Laboratory (NRTL). Based on the testing results, SDG&E
approved the mPulse platform not only to manage microgrid
operations at the site, but also to export stored energy to the
grid.
Additionally, because the location is directly adjacent to the
Carlsbad Airport, a Federal Aviation Administration study was
conducted to verify that flight operations were undisturbed as a
result of the rooftop installation that included 1,200 solar
panels. RSI Roofing, also a San Diego company, partnered with Solar
Watt Solutions on this contract. The agreement included the
installation of a new energy efficient roofing system that contains
two layers of insulation and meets Title 24 energy efficiency
standards mandated by the California Energy Commission. Currently
at the site, CleanSpark's patented mPulse controls platform manages
482.4 KW rooftop solar panels and a 250KW/548KWH Battery Energy
Storage System ("BESS") that was installed to help further reduce
demand charges.
John Sawaya, RSI CEO, commented, “This is an example of a good
combination of companies working together to achieve a goal and
which far exceeded the customer’s expectations in the end.”
Eric Van Velzer, WS Display Principal and CFO said, “With the
new program, we saw a reduction in our first month’s power bill
from the previous average of $13K to $15K down to just over $3K. We
also realized significant savings on the cost of the microgrid with
a 30% solar credit and battery incentive through SGIP. We plan for
future expansion with additional backup power and storage for
resiliency during power outages.”
Zach Bradford, CleanSpark’s Chief Executive Officer stated, “WS
Display is a leader in providing high-quality trade show banners
& displays whose operational costs were significantly decreased
as a direct result of a smart-controlled microgrid provided by
Solar Watt Solutions and CleanSpark. mPulse optimizes and directs
the microgrid to provide resiliency during utility outages, and
cost savings during normal operations. WS Display is also able to
export energy from the battery to the utility grid to create
greater savings.” Adding, “CleanSpark is proud of the results the
mPulse directed system has achieved. CleanSpark anticipates
reoccurring revenues from ongoing software subscriptions.”
Parties interested in learning more about CleanSpark products
and services 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, Inc., a Nevada corporation, is in the
business of providing advanced software, controls and technology
solutions to solve modern energy challenges. CleanSpark has a suite
of software solutions that provides end-to-end microgrid energy
modeling, energy market communications, and energy management
solutions. CleanSpark's offerings consist of intelligent energy
monitoring and controls, intelligent microgrid design software,
middleware communications protocols for the energy industry, energy
system engineering, custom hardware solutions, microgrid
installation and implementation services, traditional data center
services and software consulting services. The Company and its
subsidiaries also own and operate a fleet of Bitcoin miners at its
facility outside of Atlanta, Georgia. For more
information about the Company, please visit the Company's website
at https://ir.cleanspark.com/.
About Solar Watt Solutions:
Solar Watt Solutions, Inc., a California corporation, is a
system integrator that assists customers in finding the energy
products that best fit their needs while working with a range of
equipment manufacturers to provide a cost-effective solution for
residential or commercial projects.
Solar Watt Solutions helps businesses and homeowners install
solar and batteries to save money on energy bills and reduce
dependence on increasing energy costs from public utilities. We
help customers realize all the local, state, and Federal
incentives, which make solar energy more affordable than ever
before. Our customers can take pride in knowing that they are part
of the solution, not the problem. For more information,
visit https://www.solarwattsolutions.com
About RSI Roofing:
RSI Roofing is a commercial roofing contractor based in San
Diego, California. The company is locally owned and operated and
has been in business since 1993. Services include commercial and
multi-family re-roofing, roof maintenance, and emergency leak
service and repairs. RSI Roofing is a leading partner in BOMA San
Diego, CAI San Diego, IFMA San Diego, IREM San Diego, the San Diego
Building Engineers Association, the San Diego Roofing Contractors
Association, and the National Roofing Contractors
Association. Visit https://thinkrsi.com/ for more
information.
About WSDisplay:
Also known as San Diego Sign Company, WSDisplay is one of
the leading providers of large format digital printed trade show
displays in North America. They were founded in 2001 out of the
owners garage, and incorporated in San Diego in 2005. The company
has grown to over three facilities on both the west and east
coasts. They have been named to the Inc 5000 Fastest Growing
Companies in the U.S. list six times in a row from 2012 to 2017.
For more information:https://www.wsdisplay.com/ and
https://www.sdsign.com/
Forward-Looking Statements:
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's plans and expectations for
expansion of its residential energy and microgrid initiatives,
revenue expectations, the launch of its mVoult product line and
other statements regarding the expectations, beliefs, plans,
intentions and strategies of the Company. The Company has tried to
identify these forward-looking statements by using words such as
"expect," "target," "anticipate," "believe," "could," "should,"
"estimate," "intend," "may," "will," "plan," "goal" and similar
terms and phrases, but such words, terms and phrases are not the
exclusive means of identifying such statements. Actual results,
performance and achievements could differ materially from those
expressed in, or implied by, these forward-looking statements due
to a variety of risks, uncertainties and other factors, including,
without limitation: delays in equipment and battery energy storage
systems availability and delivery, the successful deployment of
energy solutions for residential and commercial applications, the
fitness of the Company's energy hardware, software and other
solutions for this particular application or market, the
expectations of future revenue growth may not be realized, ongoing
demand for the Company's software products and related services,
the impact of global pandemics (including COVID-19) on the demand
for our products and services; and other risks described in the
Company's prior press releases and in its filings with the
Securities and Exchange Commission (SEC), including under the
heading "Risk Factors" in the Company's 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 (including any forward-looking
statements contained herein) to reflect events or circumstances
after the date hereof.
Press:Trish DaCostaKCD PRCleanspark@kcdpr.com
Investor Relations
CleanSpark, Inc.
(801)-244-4405
ir@cleanspark.com
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