SALT LAKE CITY, Sept. 10, 2020 /PRNewswire/ -- CleanSpark, Inc.
(Nasdaq: CLSK), a diversified software and services company, today
announced that it has received a contract for multiple units of its
intelligent switchgear equipment from a long-term energy
development partner based in Houston,
TX.
The two companies have now collaborated on over 100 unique
microgrid projects for which CleanSpark has provided its custom
intelligent switchgear. CleanSpark's ATS solutions have previously
been installed by the same partner to provide resilient microgrids
for a large grocery store chain and for the world's largest
retailer. CleanSpark expects additional units to be ordered in the
coming months in continued support of these end-use clients.
The most recent orders are for five Switchgear units, three of
which will be installed on a surface water pumping station in the
Houston area. The two additional
units were ordered for a Texas-based grocery chain that has CleanSpark
Switchgear currently deployed on several of their locations. The
microgrids that incorporate the intelligent ATS solutions not only
monitor increasing demand intervals from the utility in order to
optimize energy consumption, but also provide a reliable back-up
energy solution. This 'baked-in' resiliency keeps the site
operational even during extended utility outages caused by events
such as hurricanes. The latest orders are expected to add
additional revenue that CleanSpark will recognize during the coming
quarter. CleanSpark has shipped in excess of $7.4 million in Switchgear during the current
fiscal year.
"Providing our intelligent switchgear solutions for a microgrid
on a critical water pumping facility represents an entirely new
market segment for the company," stated CleanSpark's Chief
Executive Officer, Zachary Bradford.
"The continuing, successful deployments of CleanSpark's
unique hardware and software technologies in mission-critical
environments have expanded the applications for our offerings. We
are pleased that we can leverage our vast experience in military,
commercial and industrial energy systems to support our customers
as they expand into new business segments." He concluded.
Parties interested in learning more about CleanSpark's
Switchgear are encouraged to inquire by contacting the Company
directly at info@cleanspark.com or visiting the Company's website
at www.cleanspark.com/switchgear.
Investors are encouraged to contact the Company
at ir@cleanspark.com, or visiting the Company's website
at https://ir.cleanspark.com/
About CleanSpark:
CleanSpark offers software and intelligent controls for
microgrid and distributed energy resource management systems and
innovative strategy 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 fitness of the product for a particular application
or market, the expectations of future revenue growth may not be
realized, timing of orders and deliveries, ongoing demand for its
software products and related services, the impact of global
pandemics (including COVID-19) on the demand for its products and
services; 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.
Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405
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SOURCE CleanSpark, Inc.