CleanSpark Announces $1.6 Million Order for its Intelligent ATS Switchgear
February 04 2020 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK), a software company with advanced
engineering, software and controls for innovative microgrid and
distributed energy resource management systems today announced that
it has secured a $1.6 million order for its intelligent automatic
transfer switch (ATS) switchgear. The Company’s intelligent ATS
switchgear is used to automatically transfer power supply from a
primary source to a backup source when it senses a failure or
outage in the primary source, thus assuring uninterrupted power. It
also allows an end user with excess energy generation the
opportunity to participate in regional energy markets when it makes
financial sense to sell surplus power back to the grid. The units
are expected to be shipped over the next two fiscal quarters.
“Our customer will pair our ATS units in a microgrid
configuration to provide resilient microgrid power for shopping
centers. This new order will provide increased exposure of our
products to shopping centers in upcoming quarters and contribute to
our strong revenue growth outlook. As grid related power
outages become increasingly disruptive to business operations, we
think the need for backup power sources will drive increased demand
for our products.” said Chairman of CleanSpark, Matthew
Schultz.
“CleanSpark’s new order is a result of a successful pilot
project in 2019 by which our customer deployed multiple ATS units
paired with generation assets at several locations of one of the
nation’s largest retailers, with over 6,300 stores in the US.
As a result of the successful performance of the project this
follow-on order was placed. This follow-on order was
approximately four times larger than the pilot order and we expect
to continue to receive orders for a significant number of
additional units during in the next few years in order to meet the
increasing demand for back-up energy solutions.” said CEO of
CleanSpark, Zach Bradford.
Parties interested in using CleanSpark’s platform are encouraged
to inquire by contacting the Company directly
at info@cleanspark.com or visiting the Company’s website
at www.Cleanspark.com
About CleanSpark:
CleanSpark provides advanced energy software and control
technology that enables a plug-and-play enterprise solution to
modern energy challenges. Our services consist of intelligent
energy monitoring and controls, microgrid design and engineering,
microgrid consulting services and turn-key microgrid implementation
services. CleanSpark's software 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.
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 fitness of the product for a particular application
or market, the expectations of future growth may not be realized,
timing of deliveries, demand for our software products; 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.
Shawn Severson
Integra Investor Relations
(415) 233-7094
info@integra-ir.com
CleanSpark (NASDAQ:CLSK)
Historical Stock Chart
From Mar 2024 to Apr 2024
CleanSpark (NASDAQ:CLSK)
Historical Stock Chart
From Apr 2023 to Apr 2024