CleanSpark Shares Spike; Co Commissions Software On New Microgrid Featuring Tesla Batteries
9:35 am ET September 21, 2020 (Benzinga) Print
CleanSpark Commissions Software on New Microgrid Featuring Tesla Batteries
SALT LAKE CITY, Sept. 21, 2020 /PRNewswire/ -- CleanSpark, Inc. (NASDAQ:CLSK), "the Company", a diversified software and services company announced the commissioning of its software on a new solar plus storage microgrid project in Central America. CleanSpark is partnered with an energy developer to deploy this unique solution for Micro Technologies SA, a major international assembly and manufacturing company. This microgrid is for their new factory located in the San Jose, Alajuela Province of Costa Rica.
The local clean-energy developer focuses on distributed power generation, storage, and management. They have installed some of the first microgrids in Latin America. This collaborative project between the two companies will incorporate grid-tied solar and energy storage systems primarily to offset utility energy costs. The secondary function of the system is to provide backup power during utility outages from construction through commissioning of the complex, as well as when facility is fully operational.
CleanSpark is providing its patented mPulse controls with market-based forecasting and operation. The Company has also procured and will incorporate the Tesla (NASDAQ:TSLA) PowerPack 2 battery energy storage system which will provide 558kW/1115kWh storage. Additionally, the project's solar installation includes 480kW AC, 531kW DC of PV (photovoltaic) solar panels. This represents the second microgrid located in Costa Rica with an mPulse controller paired with a Tesla energy storage solution.
MicroTech is a components and systemsmanufacturerfor Fortune 500 companies which represent a multitude of industries including robotics, automotive, aerospace, and telecommunications.CleanSpark's mPulse controller will provide MicroTech with a means of reducing utility operating costs.This is accomplished by storing and/or shifting solar production through operation of the Tesla Powerpack ensuring consistent operation and resiliency. In the event of a power disruption from the grid, the energy storage system will be utilized to provide backup electricity to the manufacturing facility. This will help significantly reduce the financial impact associated with power outages during the manufacturing process of these sensitive products and equipment. The utilization of the AC-coupled solar array, also operated and managed by CleanSpark's mPulse software, will further extend the resiliency of the system.
Zach Bradford, CEO of CleanSpark commented, "We are extremely pleased to have partnered with local energy professionals on another microgrid project in Costa Rica. In addition to assisting the developer to provide resilient power and cost savings for MicroTech on a remote location, this system provides renewable clean-energy, an objective stated by the country of Costa Rica, in their pursuit of being powered by 100% renewables This edict is enthusiastically supported by CleanSpark and our local partners. We look forward to continuing to utilize our technologies to provide energy certainty, clean power, and cost avoidance throughout the region."
Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at email@example.com visiting the Company's website at https://www.cleanspark.com
Investors are encouraged to contact the Company firstname.lastname@example.org, or visiting the Company's website at https://ir.cleanspark.com/
CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that 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. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.
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 fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its 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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SOURCE CleanSpark, Inc.