CleanSpark Announces Additional Residential Microgrid Contract
January 13 2021 - 9:25AM
CleanSpark, Inc. (Nasdaq: CLSK), (“CleanSpark, or the Company”), an
advanced software and controls technology solutions company focused
on solving modern energy challenges, announced an additional
contract related to their residential initiative. The project
is for an existing Santa Barbara, CA home that has a history of
power disruptions directly related to natural disasters.
This agreement provides that CleanSpark will deliver energy
modeling, analytics, and implementation of storage and controls for
a microgrid designed to function in addition to or disconnected
from the utility when economic or adverse conditions dictate. The
system will be controlled by CleanSpark’s patented mPulse software,
to ensure optimization of energy costs while delivering the highest
level of resiliency. The homeowner, Frank Huerta, has been forced
to evacuate the residence due to wildfires, rolling blackouts, and
other natural disasters. As a business owner, Mr. Huerta is
intimately aware of the impact a sustained disruption can cause,
not only to his residence, but to his company as well.
According to PG&E data, some California counties lost power
up to seven times during 2019, significantly more than the national
average (1.4, US Energy Information Administration study).
CleanSpark’s team of energy professionals are currently working
closely with the homeowner and the utility to analyze the system
for appropriate sizing. Through the utilization of the Company’s
mVSO microgrid energy modeling software, the system will be
optimally designed to provide resilient energy for all critical
circuits, according to the needs of the client, in the event of a
sustained disruption. Additionally, the Company’s suite of products
will provide end-to-end management for the microgrid, ensuring the
lowest cost of energy during standard, connected operation.
When asked about selecting the CleanSpark line of products,
customer Frank Huerta stated, “I did a tremendous amount of
research on backup power systems including residential microgrids
and found CleanSpark’s solution to be the best solution to meet my
needs. Their system is extremely flexible, providing unlimited
opportunities for future expansion as my requirements change. The
single greatest value, for us, is to have the confidence and
security that our home is not subject to unpredictable energy
interruptions that are beyond our control…you really can’t put a
price on that. We plan to someday expand this system to fully
disconnect our home from the utility connection.”
Zach Bradford, CEO of CleanSpark added, “Mr. Huerta’s situation
is an increasingly common theme with California homeowners. His
need for resilient energy presented us with another opportunity to
deliver tremendous value with a smart solar and storage microgrid.
In addition to providing energy certainty and long-term savings,
this deployment provides an application of our solutions to solve
real-world challenges for our clients and partners. Expanding our
highly respected military, commercial, and industrial energy
solutions to include residential microgrids is the next logical
progression in our growth plans. The market continues to evolve
away from the unstable, centralized power grid, and customers of
all walks of life are now seeking the certainty and confidence that
a residential microgrid can provide. Additionally, many of our
clients have found that the ever-evolving utility tariffs have
devalued their existing solar or generator investments, and this
provides the solution to secure the legacy investment value and
leverage it well into the future.”
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.
Investors are encouraged to contact the Company
at ir@cleanspark.com or visiting the Company’s website at
https://ir.cleanspark.com/
CleanSpark periodically speaks at virtual conferences and
events, if the event was recorded the recordings can be found on
the events page at https://ir.cleanspark.com.
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of
providing advanced software and controls technology solutions to
solve modern energy challenges. We have a suite of software
solutions that provide end-to-end microgrid energy modeling, energy
market communications, and energy management solutions. Our
offerings consist of intelligent energy monitoring and controls,
intelligent microgrid design software, middleware communications
protocols for the energy industry, energy system engineering, and
software consulting services.
Through its wholly owned subsidiary ATL Data Centers LLC,
CleanSpark owns and operates a data center that provides customers
with traditional on-site and cloud-based data center services. The
Company also owns and operates a fleet of over 3,400 ASIC
(application-specific integrated circuit) Bitcoin miners producing
over 200 PH/s in mining capacity. Capacity is expected to increase
to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021.
CleanSpark plans to apply its technologies with a goal of mining
bitcoins at the lowest energy prices in the United States. For more
information, visit https://ATL-DATA.com
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 successful deployment of energy solutions on the
project, the fitness of our energy software and solutions for this
particular application or market, the expectations of future
revenue growth may not be realized, ongoing demand for our 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 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.
Investor Relations
CleanSpark, Inc.
(801)-244-4405
ir@cleanspark.com
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