CleanSpark Awarded $287,000 Software Controls and Energy Storage Contract

CleanSpark, Inc. (CLSK), a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, today announced an award of $287,000 to provide software controls and energy storage for an industrial equipment sales facility in San Jose Costa Rica.

CleanSpark's solution will integrate a scalable 223-kilowatt hours of battery storage paired with a 221-kilowatt solar photovoltaic system, and a back-up generator for use during extended utility outages, all driven by CleanSpark's mPulse controls platform.  The project is expected to be delivered and commissioned in November 2019.  The mPulse Software as a Service (SaaS) agreement supporting the system will have an initial term of 10 years with software license fees to be paid annually.

"Our system continues to beat out competition in head to head project bids," said Zach Bradford, President of CleanSpark.  "This is the second significant customer win we've announced in less than two weeks, and we expect that our business will continue its accelerated growth trajectory as we accumulate more customers.  This is also a significant milestone for the Company as it further demonstrates the value of our software-based controls solution.  As we continue to develop our SaaS revenue streams our profitability is expected to increase significantly over time.  The projects we complete and commission in the near future will continue to provide our shareholders value for many years in the future."

Source: CleanSpark, Inc.
Date: Aug 6, 2019