CleanSpark Updates Performance – GuruFocus.com
SALT LAKE CITY, July 7, 2021 (GLOBE NEWSWIRE) — CleanSpark, Inc. (CLSK) (the “Company” or “CleanSpark”), a diversified software, services and bitcoin mining company, today announced the business results of a microgrid project recently commissioned in San Diego. The company and its wholly owned subsidiary, Solar Watt Solutions, partnered with RSI Roofing to implement the solar-plus-storage microgrid system.
The microgrid project was designed for WS Display/San Diego Sign Company to provide economic optimization and cost avoidance, as well as cleaner energy for their facility. After the energy systems were implemented, the customer realized a 75-80% reduction in monthly energy costs during the first month of use.
To meet preliminary San Diego Gas and Electric (SDG&E) and California Energy Commission (CEC) requirements for interconnected NEM storage systems, CleanSpark’s mPulse microgrid control system has been tested and approved by a National Recognized Testing Laboratory (NRTL) . Based on the test results, SDG&E approved the mPulse platform, not only to manage microgrid activities on the site, but also to export stored energy to the grid.
In addition, because the site is directly adjacent to Carlsbad Airport, a Federal Aviation Administration investigation was conducted to verify that flight operations were undisturbed as a result of the 1,200-solar rooftop installation. RSI Roofing, also a San Diego company, partnered with Solar Watt Solutions for this contract. The agreement included the installation of a new energy efficient roof system that contains two layers of insulation and meets Title 24 energy efficiency standards imposed by the California Energy Commission. Currently on site, CleanSpark’s patented mPulse control platform manages 482.4 kW of rooftop solar panels and a 250 kW/548 kWh Battery Energy Storage System (“BESS”) installed to further reduce demand costs.
John Sawaya, CEO of RSI, said: “This is an example of a good combination of companies working together to achieve a goal and ultimately exceeding customer expectations.”
Eric Van Velzer, WS Display Principal and CFO said, “With the new program, we saw a reduction in our first month utility bill from the previous average of $13K to $15K, to just over $3K. We also realized significant cost savings on the microgrid with a 30% solar credit and battery bonus through SGIP. We plan to expand in the future with additional backup power and storage for resiliency during power outages.”
Zach Bradford, Chief Executive Officer of CleanSpark, said: “WS Display is a leader in providing high-quality banners and displays for trade shows whose operating costs have been significantly reduced as a direct result of a smartly controlled microgrid delivered by Solar Watt Solutions and CleanSpark. mPulse optimizes and steers the microgrid to provide resiliency during power outages and cost savings during normal operations. WS Display is also able to export energy from the battery to the grid for greater savings.” Adding: “CleanSpark is proud of the results the mPulse controlled system has achieved. CleanSpark expects recurring revenue from ongoing software subscriptions.”
Parties wishing to learn more about CleanSpark’s products and services are encouraged to inquire by contacting the company directly at: [email protected] or visit the company’s website at: www.cleanspark.com.
CleanSpark, Inc., a Nevada company, provides advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions. CleanSpark’s offerings include intelligent energy monitoring and controls, intelligent microgrid design software, energy industry middleware communication protocols, energy systems engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services, and software consulting services. The company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the company, please visit the company’s website at: https://ir.cleanspark.com/.
About Solar Watt Solutions:
Solar Watt Solutions, Inc., a California company, is a systems integrator that helps customers find the energy products that best suit their needs, while partnering with a range of equipment manufacturers to provide a cost-effective solution for residential or commercial projects.
Solar Watt Solutions helps businesses and homeowners install solar and batteries to save money on utility bills and reduce reliance on rising energy costs on public utilities. We help customers realize all the local, state and federal incentives that make solar more affordable than ever before. Our customers can be proud to know that they are part of the solution, not the problem. For more information visit https://www.solarwattsolutions.com
About RSI Roofing:
RSI Roofing is a commercial roofing contractor based in San Diego, California. The company is locally owned and operated and has been in business since 1993. Services include commercial and multi-family roof refurbishment, roof maintenance and emergency leakage service and repairs. RSI Roofing is a leading partner in BOMA San Diego, CAI San Diego, IFMA San Diego, IREM San Diego, the San Diego Building Engineers Association, the San Diego Roofing Contractors Association and the National Roofing Contractors Association. Visit https://thinkrsi.com/ For more information.
WSDisplay, also known as San Diego Sign Company, is one of the leading suppliers of large format digitally printed trade show displays in North America. They were founded in 2001 from the owner’s garage and founded in 2005 in San Diego. The company has expanded to more than three facilities on both the west and east coasts. They have been named in the Inc 5000 Fastest Growing Companies in the US list six times in a row from 2012 to 2017. For more information:https://www.wsdisplay.com/ and https://www.sdsign.com/
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s plans and expectations for expanding its residential energy and microgrid initiatives, revenue expectations, the launch of its mVoult product line and other statements regarding the Company’s expectations, beliefs, plans, intentions and strategies. The company has attempted to identify these forward-looking statements by using words such as “expect,” “striving,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “perhaps”. ,” “will”, “plan”, “purpose” and similar terms and expressions, but such words, terms and expressions are not the exclusive means of identifying such statements. Actual results, performance and achievements may differ materially from those expressed in , or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to: delays in equipment and battery energy storage systems availability and delivery, the successful implementation of energy solutions for residential and commercial applications, the suitability of the company’s energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth cannot be realized, continued demand for the company’s software products and related services, the impact of global pandemics (including COVID -19) to the demand for our products and services; and other risks described in previous company press releases and 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 all 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 (including any forward-looking statements contained herein) to reflect events or circumstances. after the date of this.