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CleanSpark receives a new purchase order from a Houston, Texas-based microgrid developer

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CleanSpark Inc (NASDAQ:CLSK) announced Tuesday that it has received a new purchase order from a Houston, Texas-based microgrid developer. 

CleanSpark noted that it has provided its ATS (automatic transfer switch) solutions to the developer and its customers for several years.

The company said its switchgear units will be deployed alongside energy generation assets to provide resilient power and cost savings. 

READ: CleanSpark subsidiary GridFabric completes OpenADR certification for electric vehicle charging company KIGT

The end-use customer is the world’s largest retail chain, operating more than 11,500 locations worldwide. CleanSpark’s ATS paired with other microgrid assets will help keep stores operational during utility outages.

This purchase order is expected to result in more than $1,500,000 of additional revenue for the company.

“We are excited to continue to provide switchgear to support custom microgrid solutions for critical back-up power,” said CleanSpark CEO Zach Bradford in a statement.

“With the increasing frequency of grid disruptions, natural disasters and scheduled power-outages, the number of businesses relying on microgrids continues to rise. We anticipate additional switchgear orders from this customer and other partners, both as a result of the aforementioned events, as well as ‘green’ initiatives supported by the new administration that should pave the way for increased microgrid development.”

Bradford added: “We believe the combination of our patented energy solutions together with our Bitcoin mining division, make us a true ‘dual-threat’ as we continue our rapid growth across all of our divisions. This order is a result of our focus on ‘best-in-class’ solutions, whether they result from hardware, software, residential or commercial initiatives. CleanSpark’s unique approach to energy solutions are expected to continue to drive strong demand throughout our partnership networks. Recent announcements discussing our platform upgrades and additional distribution of our GridFabric software solutions are examples of this increased demand for our products and services.”

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Story by ProactiveInvestors


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