SALT LAKE CITY, May 27, 2021 /PRNewswire/ -- CleanSpark, Inc.
(Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified
software, services, and Bitcoin mining company, and FlowGen Ltd.
("FlowGen") an international wind turbine technology company, based
in Zug, Switzerland, today
announced they have entered into a collaborative memorandum of
understanding ("MOU"). Under the terms of the MOU, FlowGen has
agreed to use CleanSpark's mPulse controls solution in all of its
microgrid projects worldwide. In addition, CleanSpark was granted
the exclusive distribution rights for FlowGen's advanced wind
turbine solutions throughout North and South America.
CleanSpark Partners with Switzerland-Based Wind Turbine Firm to
Support Microgrid, Bitcoin Operations.
The agreement is expected to benefit both companies through
combining CleanSpark's industry leading software and controls
technologies with FlowGen's proprietary system of highly advanced,
wind-centric microgrid solutions. The companies believe that the
blending of technologies will enable both enterprises to leverage
engineering, design, modeling, software and controls strengths, to
deliver reliable, efficient and resilient systems to their
collective customer base as a result.
The parties are jointly marketing solutions featuring a hardware
combination of FlowGen's wind turbine systems, solar, and battery
energy storage systems (BESS). These solutions will be fully
supported by CleanSpark's patented mPulse control platform to
maximize power optimization and resiliency. FlowGen's goal is to
implement cleaner renewable energy sources at sites that are
currently powered by gas generators and other non-renewable energy
sources.
FlowGen's innovation came from its founder and Chief Executive
Officer Dirk Küster's extensive
racing history leading, among others, Porsche's GT3 race team to
achieve tremendous success on the track. Through Dirk's expertise
in mass production processes, coupled with an award-winning team of
experts from the motorsport aerodynamics, automotive and aerospace
industries, FlowGen's revolutionary design, innovative engineering,
and advanced analytical tools help achieve industry leading
performance levels and efficiency. Their wind turbine systems can
be incorporated into microgrids around the world in combination
with solar, storage and other renewables. FlowGen's technology is
extremely versatile as it is powerful enough for very large
installations, but its small size and low weight also enable easy
installation where space is restricted. Its focus on aerodynamic
efficiency also allows it to provide power in areas where sustained
wind-levels are lower.
FlowGen's CEO Dirk Küster said,
"FlowGen's board of directors is very enthusiastic about this
unique combination and believes it will provide value for
shareholders of both companies. This agreement has significant
strategic and financial benefits, and the combined companies are
expected to be better positioned to anticipate and serve the needs
of a global customer base in the highly competitive microgrid
market."
Zach Bradford, CleanSpark's Chief
Executive Officer stated, "This partnership further demonstrates
the flexibility of our controls technologies. The partnership with
FlowGen demonstrates mPulse's versatile capabilities with the
addition of wind turbines. We believe this will expand the customer
base for our offerings in areas less conducive to solar for
distributed power generation solutions. Wind energy is a powerful
resource that has the ability to enhance the operating
characteristics of microgrids across a variety of applications. The
profitability from our Bitcoin division continues to enable us to
advance forward additional renewable energy sources to further
improve the value of renewable energy solutions. Driving renewable
energy technology advancement and adoption is key to our continued
growth, and the results of these efforts are expected to positively
impact all of our business units."
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.
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the
business of providing advanced software, controls and technology
solutions to solve modern energy challenges. CleanSpark has a suite
of software solutions that provides end-to-end microgrid energy
modeling, energy market communications, and energy management
solutions. CleanSpark's offerings consist of intelligent energy
monitoring and controls, intelligent microgrid design software,
middleware communications protocols for the energy industry, energy
system 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://www.cleanspark.com/investor-relations.
About FlowGen:
FlowGen, a swiss-based clean power company, provides turnkey
microgrid solutions combining its scalable small wind turbine
systems with solar and storage
Parties interested in learning more about the company's products
and services are encouraged to visiting the Company's website at
https://www.flowgen.com/.
Forward-Looking Statements:
This 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
expansion of its energy initiatives, deployment of miners, the
growth of the facility and other statements regarding the
expectations, beliefs, plans, intentions and strategies of the
Company. The Company has tried to identify these forward-looking
statements by using words such as "expect," "target," "anticipate,"
"believe," "could," "should," "estimate," "intend," "may," "will,"
"plan," "goal" and similar terms and phrases, but such words, terms
and phrases are not the exclusive means of identifying such
statements. Actual results, performance and achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation: the successful
deployment of FlowGen's wind turbine solutions for the United States and worldwide applications,
the fitness of the FlowGen's wind turbine solutions for this
particular application or market, delays in equipment and products
availability and delivery, the successful deployment of energy
solutions for residential and commercial applications, the fitness
of the Company's energy hardware, software and other solutions for
this particular application or market, the expectations of future
revenue growth may not be realized, ongoing demand for the
Company's 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 the Company's
prior press releases and in its 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 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 (including any forward-looking
statements contained herein) to reflect events or circumstances
after the date hereof.
Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405
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SOURCE CleanSpark, Inc.