CleanSpark Inc (CLSK)

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CleanSpark, Inc. Commences Residential Estate Program with Bay Area Energy Solutions, Inc.

Companies Launch Initiative with First Luxury Deployment

PR Newswire

SALT LAKE CITY , Jan. 7, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, and Bay Area Energy Solutions, Inc. today announced they are jointly developing the first pilot microgrid solution for an estate residence in Healdsburg, CA. The companies are pleased to have secured the first contract under a previously announced partnership agreement.

This initial project is anticipated to be the first of a joint initiative formed with a number of domestic energy developers, including Bay Area Energy Solutions. Luxury and estate homes offer a targeted niche with unique requirements for which CleanSpark and its partners can provide strategic solutions. Properties of this size often require significant power for one or more building structures and can even include business operations on site. There are thousands of homes greater than 10,000 square feet in the state of California alone, where incentives and tax benefits, along with well-documented utility challenges support the implementation of new, renewable, and resilient energy sources. CleanSpark expects to develop a significant pipeline of projects within this sector.

The first deployment is a 14,000 square foot estate currently under construction. When completed, the luxury residence will be operated fully grid-disconnected, utilizing on site generation, solar, and storage managed by CleanSpark's mPulse Controller for system optimization. The goal of the project is to provide self-sufficient off-grid energy for locations frequently experiencing grid disruptions from events including wildfires and public safety grid shutdowns. The California Energy Commission anticipates increasing volatility in areas prone to disruptions.

Kilowatt Labs, Inc.'s supercapacitor-based energy storage which will be installed with photovoltaic solar panels during the first phase of the project in order to power construction of the home. Additional solar and stand-by generators will be added once the homeowner takes residence.

Amer Tadayon CRO of CleanSpark commented, "We are seeing increasing investments being made by estate homeowners integrating sustainable energy technology into construction projects of this magnitude, and we believe this trend will continue. This is the first foray directly into this market segment for CleanSpark. With our development partners, we can help solve critical energy and resiliency challenges for these types of residences." Adding, "We are pleased to continue building our pipeline of microgrid projects with partners like Bay Area Energy Solutions, where we expect to deploy multiple mPulse controlled residential microgrids in 2021."

Joel Ware , owner of Bay Area Energy Solutions said, "Because this is an off-grid project, we worked with a number of energy providers including Kilowatt Labs to procure the proper electrical generation and storage for the construction phase, as well as the permanent occupancy of the home. CleanSpark's Controller will enable our customer to power their home and property efficiently, with self-sufficient, sustainable energy that is not reliant on the increasingly volatile utility grid."

Zach Bradford CEO of CleanSpark said of the project, "We are excited to participate on this project with Bay Area Energy. CleanSpark's proprietary mPulse system, paired with solar, storage, and generators will provide complete resiliency as well as significant cost savings. It will also allow their microgrid to be 'future-proof' should they wish to add additional solar or other resources at a later date. We believe that the sustainable energy management opportunities presented within the higher end residential real estate market will parallel the successes we've begun to experience in our Bitcoin mining operations."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [e-mail] or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at [e-mail] , or visiting the Company's website at https://ir.cleanspark.com/