CleanSpark Announces $142,000 Software Controls and Energy Storage Contract
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SALT LAKE CITY, Jan. 24, 2020 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), a software company with advanced engineering, software and controls for innovative microgrid and distributed energy resource management systems today announced an award of a contract totaling $142,000 to provide software controls and energy storage to support a retail facility in California.
CleanSpark's solution will integrate a scalable 43kW DC solar array, 60kW/120kWh battery energy storage system from EnergPort, and a 150-200kW Generator, all driven by CleanSpark's mPulse software and controls platform. CleanSpark’s mPulse software will provide economic dispatch controls to maximize performance, as well as resiliency. This will be a fully off-grid deployment as the utility is unable to provide sufficient power to the retail location for at least 24 months. The project is expected to be integrated and commissioned in the second quarter of 2020.
“This is yet another example of the growing momentum in the distributed energy generation market and the opportunities available to Cleanspark,” said Zach Bradford, Cleanspark’s CEO. “We are experiencing increasing activity and demand across a variety of applications and industries where our customers face limited or no access to the traditional power grid. CleanSpark first performed a feasibility study to determine the appropriate solar PV and energy storage system sizes to be co-located with a generator to enable full off-grid operations. Our mPulse energy management software will be utilized to manage the energy assets at the site and optimize the utilization and economics.”
CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Our services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services and turn-key microgrid implementation services. CleanSpark's software 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.
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 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.
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