SALT LAKE CITY, April 01, 2020 (GLOBE NEWSWIRE) — CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and intelligent energy services company today announced that it has secured a $577,000 purchase order for its intelligent automatic transfer switch (ATS) switchgear. The Company’s intelligent ATS switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage in the primary source, thus assuring uninterrupted power. It also allows the end user with surplus energy generation the opportunity to participate in regional energy markets when it makes financial sense to sell power back to the grid. The units underlying this purchase order are expected to be shipped over the next two fiscal quarters.
“CleanSpark’s units will be integrated into natural gas powered microgrids to provide resilient power to grocery stores. Resilient power to support essential businesses is critical now more than ever in the face of the COVID-19 outbreak. Grid related power outages can be increasingly disruptive to business operations and have drastic impact on essential customer access. The client issuing today’s purchase order is the same organization that contracted with CleanSpark in January for more than $1.6 million in ATS switchgear. We expect to continue to receive a significant number of orders for additional units during the next few years in order to meet the increasing demand for resilient back-up energy solutions.” said CEO of CleanSpark, Zach Bradford.
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.
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 expectations of future growth may not be realized, timing of deliveries, demand for our software products; 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.
Investor Relations CleanSpark, Inc. (801)-244-4405
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