CleanSpark's GridFabric Completes OpenADR Certification for EV Charging Company, KIGT
CleanSpark (Nasdaq: CLSK) announced that its subsidiary, GridFabric, has achieved OpenADR certification for KIGT, an electric vehicle charging company. This certification allows KIGT to participate in utility demand response programs, facilitating entry into new markets, including California and Hawaii. KIGT aims to leverage this certification to support the expected growth in the EV market, with projections indicating a doubling of consumer spending on electric vehicles over the next five years. Both CleanSpark and KIGT are positioned for growth as demand for efficient charging solutions increases.
- OpenADR certification enables KIGT to access new markets and work with utilities.
- Expected growth in the electric vehicle market could drive revenues for both CleanSpark and KIGT.
- None.
SALT LAKE CITY, Jan. 28, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced that its wholly-owned subsidiary, GridFabric has completed the process of OpenADR certification for KIGT, Inc. KIGT is an electric vehicle (EV) charging, software and technology company focusing on charging stations and related software for commercial, fleet, and residential vehicles.
KIGT's charging platform and proprietary software have now been added to the official list of OpenADR certified products. The list of entities having achieved certification, including KIGT, can be found at https://products.openadr.org/product/kigt-inc-kigt_ven/
KIGT, an Ontario, California based firm, was founded as a reseller of EV charging equipment more than a decade ago. The principals of the company identified a need within the electric vehicle sector for a more efficient, faster charging and affordable solution. The team at KIGT successfully launched a proprietary platform and began manufacturing their own products in 2014. This Open ADR certification will enable KIGT to enter new markets, participating alongside other, older EV charging companies in serving entities including major California Utilities and HECO (Hawaiian Electric Company, Inc.).
We believe the electric vehicle market is poised for exponential growth. According to McKinsey & Company, "With consumer focus shifting towards sustainability, it is anticipated that expenditure on electric vehicles will double over the next 5 years."
Paul Francis, Co-Founder of KIGT, said of the announcement, "OpenADR certification will be a key driver for our growth in 2021, allowing us to work with leading utilities' demand response and incentive programs. GridFabric made the process easy, as we were able to become fully certified much quicker and at a significantly lower cost than attempting the certification process alone."
Zach Bradford, CleanSpark's President and Chief Executive Officer stated, "GridFabric's Plaid product is one of the fastest ways for a company like KIGT to achieve full OpenADR certification across their platform. This process allows them to participate in utility load shifting programs, rapidly. Alternatively, the process of achieving certification without this program can result in months-long delays and substantial capital expenditures. This project is yet another successful deployment of GridFabric's unique offering within the broader EV charging industry." Adding, "GridFabric, has continued to expand its network of customers since its acquisition by CleanSpark in 2020. Following President Biden's remarks this week committing to the replacement of the entire Federal fleet with electric vehicles, we believe the focus on rapid certification of EV charging systems is poised to accelerate over the course of the coming years."
Executive Chairman Matthew Schultz will also be speaking today, January 28th at 12pm Eastern at the RenMark Virtual Roadshow. To view the live presentation, CLICK HERE. A recording will be available on the Company investor website a few days after the presentation.
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 websites at www.cleanspark.com or www.gridfabric.io.
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 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 300 PH/s in mining capacity in 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
About KIGT Inc.
KIGT is an Electric Vehicle Supply Equipment (EVSE) Manufacturer that also creates the operating software. KIGT helps Plug-in Car Drivers save time and money by providing faster charging for home, workplace, public and fleet with software that makes it easier to manage fueling and energy expenses. Learn more at https://kigtinc.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 in the electric vehicle or other sectors, 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.
Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405
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SOURCE CleanSpark, Inc.
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