CleanSpark wins $1.6M order for intelligent power-transferring technology

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CleanSpark wins $1.6M order for intelligent power-transferring technology

The technology ensures uninterrupted power by automatically transferring power supply from a primary source to a backup source.

ATS is a mechanism that ensures uninterrupted power by automatically transferring power supply from a primary source to a backup source when it senses a failure or outage in the primary source. 

The units are expected to ship over the next two fiscal quarters. 

READ: CleanSpark to provide software controls and energy storage for California retail facility

“Our customer will pair our ATS units in a microgrid configuration to provide resilient microgrid power for shopping centers,” Chairman Matthew Schultz said in a statement. “This new order will provide increased exposure of our products to shopping centers in upcoming quarters and contribute to our strong revenue growth outlook.  As grid-related power outages become increasingly disruptive to business operations, we think the need for backup power sources will drive increased demand for our products.”

The company’s ATS switchgear also allows an end-user with excess energy generation to participate in regional energy markets by selling surplus power back to the grid. 

“CleanSpark’s new order is a result of a successful pilot project in 2019 by which our customer deployed multiple ATS units paired with generation assets at several locations of one of the nation’s largest retailers, with over 6,300 stores in the US,” CEO Zach Bradford said. “As a result of the successful performance of the project this follow-on order was placed. 

This follow-on order was approximately four times larger than the pilot order and we expect to continue to receive orders for a significant number of additional units during the next few years in order to meet the increasing demand for back-up energy solutions.”

CleanSpark, based in Salt Lake City, Utah, makes software that allows an energy microgrid to be scaled to the user’s specific needs and implemented across commercial, industrial, military and agricultural sectors.

Shares added 4.73% in New York to US$5.09.