CleanSpark Launches mVoult, a Direct-to-Consumer Residential Microgrid Solution
CleanSpark has launched mVoult, a revolutionary energy management system for home microgrids, enabling flexible control of both existing and new energy assets. This standalone solution, designed for residential use, offers homeowners options like solar integration and backup generators. The launch comes amid increasing demand for residential energy solutions due to utility outages, particularly in California. With pre-orders expected in April 2021, CleanSpark aims to significantly expand its market presence and enhance revenue streams from home microgrid solutions.
- Launch of mVoult enhances CleanSpark's product offerings in the residential market.
- Expected increase in demand for home microgrids due to utility outages and wildfire risks.
- Pre-orders for mVoult scheduled for April 2021, indicating strong market interest.
- Creation of a direct-to-consumer sales division to support product rollout.
- Dependence on government incentives under the Biden administration which may not materialize.
- Risk of integration challenges with existing energy management systems.
SALT LAKE CITY, Feb. 17, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software and services company, today announced the launch of mVoult (mvoult.com) for home microgrids. mVoult is a standalone energy management controller that is capable of directing the operations of both existing and new energy assets. mVoult will be offered as a smart controller and mobile app specifically designed for residential applications. The Company also plans to launch a fully integrated mVoult branded battery energy storage and controls solution. The home power solution will enable the selection of optional add-ons such as solar integration or back-up generators. The systems are expected to continue to support the Company's energy and vendor agnostic solutions. CleanSpark's residential microgrids will be capable of integrating into new or existing energy management assets or systems.
CleanSpark's smart controls technology has been used in commercial applications, as well as mission-critical military deployments for a number of years, and the Company has identified a growing need for a product like mVoult in the residential market. There has been a significant increase in demand from homeowners, especially in California, to add solar and storage solutions to provide backup power due to blackouts or utility outages due to wildfire risks and high electricity usage rates during heat waves. A home microgrid with a smart controller can provide significant flexibility in managing cost savings and resilience for the homeowner. With the expected expansion of government incentive programs under the Biden administration and the decreasing cost of energy assets, a home microgrid has become an even more viable option for homeowners to consider.
CleanSpark has already been offering mPulse to large and estate-sized residential microgrids. The launch of mVoult is expected to significantly expand the Company's reach into the residential market and create a product that has the ability to help benefit homes of all sizes. CleanSpark has already created and staffed a direct-to-consumer sales division over the past 30 days to support the Company and its partners' growth.
Zach Bradford, CleanSpark's President and Chief Executive Officer stated, "With the massive power-outages across the country caused by both scheduled and unexpected utility disruptions over the President's Day weekend, the need for this solution has never been more critical. This is not our first foray into residential energy systems, but the focus on revenue growth in the home microgrid solutions is expected to make significant contributions to the Company's revenue mix. mVoult is built upon the same foundation as our patented mPulse controls technology which has been used in critical military and commercial applications."
mVoult.com was launched today as an informational website with the opportunity for homeowners to request updates and get on the waiting list for the mVoult solution. We expect to begin taking pre-orders for both the stand-alone controls and the fully integrated solution in April 2021. Installations of the solution are expected to begin summer 2021.
"We have received significant interest in home microgrids and we are excited to offer a more affordable solution for both homeowners and small businesses", commented Bradford. "We expect that mVoult will open a host of new opportunities. The Company plans to announce further strategic expansion into the home microgrid sector over the coming weeks."
Parties interested in learning more about CleanSpark's products and services, including mVOULT, are encouraged to inquire the Company by contacting 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/
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 also 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 Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions 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 its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in the Company's business, including, without limitation: the successful deployment of energy solutions for residential applications or other sectors, the ability of the Company's products to integrate with new or existing energy management assets or systems, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of the Company's future performance and 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 the Company's 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 the Company undertakes 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.
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