SALT LAKE CITY, Sept. 1, 2020 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK), a diversified software and services company
today announced the successful deployment of the company's mPulse
software on its latest microgrid project in Central
America.
Located on an industrial equipment retail facility in
San Jose, Costa Rica, the project
utilizes CleanSpark's patented mPulse controller to coordinate all
aspects of the system and improve overall performance. The
microgrid will consist of a 222-kW PV solar system, and a Tesla
111-kW/223kWh Powerpack provided by CleanSpark. The system is
integrated with standby diesel generation for use in the event of a
sustained power disruption. This will be one of the first
Tesla (Nasdaq: TSLA) battery systems deployed in Costa
Rica.
During system operations, the mPulse controller, utilizing
operating parameters identified and modeled through our mVSO
software, is expected to significantly reduce the use of grid
power. The Tesla battery energy storage system will be
intelligently controlled by mPulse to shave peak demand and improve
the overall project economics and ensure long-term cost
avoidance. Additionally, this project will reduce greenhouse
gas emissions to assist the Costa Rican people to close the gap on
their goal to become the world's first carbon neutral
country.
Many countries in Latin America
share a central 1,100 mile long power grid, as a result, a
disruption in Nicaragua,
El Salvador, Panama or Costa
Rica can affect the others within the region.
Costa Rica experienced a
nationwide power outage in 2017 as a result of a downed power
transmission line in Panama. The
impacts of these disruptions can potentially cause millions of
dollars in losses for commercial, industrial and agricultural
customers. One of the key value propositions of a CleanSpark
microgrid is the ability to provide energy certainty during
unplanned outages, as well as meaningful, long-term economic
benefits.
"Over the last four years, Costa
Rica has generated more than 95% of its domestic electricity
from renewable energy. In 2018, nearly 75% of all national
renewables came from hydropower. Recent drought conditions
have threatened the consistency of that supply, and the country has
been more reliant on wind production. This CleanSpark powered
system utilizes proprietary forecasting, driven, not only by the
end-user's energy consumption behaviors and utility rates, but a
multitude of other factors, including forecasted weather patterns,"
stated Matt Schultz, CleanSpark's
Chairman. "Having an intelligent, fully-automated hybrid-cloud
controller allows the end-user the security of knowing the vectors
they have identified as priority are being met without any
requirement for a 'man in the loop'," continued Schultz.
Zach Bradford, CEO of CleanSpark
stated, "This represents the second project and first large scale
deployment of our mPulse software and controls in Costa Rica.
As part of our plans to expand internationally we have identified
significant opportunities in Latin America. Costa Rica and Mexico are the first countries we are
targeting with plans to expand to the Brazilian and Panama market in 2021. The international
markets present opportunities for CleanSpark as we are uniquely
positioned to solve significant problems including improving power
quality, increased power resiliency and cost savings amongst
others." Mr. Bradford continued, "This deployment in
particular is also important in demonstrating how our software can
help multiple stakeholders involved in an energy project achieve
each of their differing goals by leveraging our technology.
In this case the end-user of the power is able to achieve cost
reductions and targeted sustainability and resiliency goals. The
developer is able to provide certainty performance while remaining
cost competitive in a traditionally challenging energy market. We
are optimistic on the future of the markets we are seeing both
internationally and domestically and we expect to expand our
presence in conjunction with our local partners as they embark on a
new era of microgrid and energy development in Costa Rica."
Parties interested in learning more about CleanSpark's Microgrid
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 a software and services
company which offers software and intelligent controls for
microgrid and distributed energy resource management systems and
innovative strategy and design services. The Company provides
advanced energy software and control technology that 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. Our product and services consist of intelligent energy
controls, microgrid modeling software, and innovation consulting
services in design, technology, and business process methodologies
to help transform and grow businesses.
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 ability of our software
to produce the expected energy benefits, expectations of future
growth of CleanSpark may not be realized, timing of
deliveries, ongoing demand for our software products, 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.