CleanSpark Announces Additional Residential Microgrid Contract
CleanSpark has announced a new contract for a residential microgrid project in Santa Barbara, CA, aiming to enhance energy resilience for a homeowner affected by frequent power disruptions. The project includes energy modeling, analytics, and implementation of energy storage and controls through CleanSpark’s mPulse software. The homeowner, Frank Huerta, expressed confidence in the system's ability to prevent energy interruptions. CEO Zach Bradford highlighted the growing demand for residential microgrids as California homeowners seek reliable energy amid unstable utility services.
- New contract for residential microgrid project enhances growth potential.
- Client satisfaction indicated by home owner's positive feedback on CleanSpark's products.
- Expansion into residential microgrids positions CleanSpark strategically amid market shifts.
- Dependence on the unstable utility grid may pose risks to long-term growth.
Residential Initiative to provide new construction and existing homes with solutions to avoid power disruptions, unpredictable energy costs.
SALT LAKE CITY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- 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.
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