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.
CleanSpark Launches Luxury Estate Energy Program Following
Successful Bitcoin Deployment
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 info@cleanspark.com or visiting the Company's website
at www.cleanspark.com.
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 5,900 ASIC and 300 PH/s in mining capacity by 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 Bay Area Energy Solutions, Inc.:
Bay Area Energy Solutions, Inc. provides custom solar design and
installation services for residential and commercial properties in
the Greater California Bay Area. Bay Area Energy Solutions, Inc. is
proud to be a certified Sunpower dealer, and a Tesla PowerWall
authorized installer.
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 energy solution on the
project, 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.