World : CleanSpark Announces $1.6 Million Order for its Intelligent ATS Switchgear

 CleanSpark, Inc. (Nasdaq: CLSK), a software company with advanced engineering, software and controls for innovative microgrid and distributed energy resource management systems today announced that it has secured a $1.6 million 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 an end user with excess energy generation the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. The units are expected to be shipped over the next two fiscal quarters.

“Our customer will pair our ATS units in a microgrid configuration to provide resilient microgrid power for shopping centers. 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.” said Chairman of CleanSpark, Matthew Schultz.

“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.  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 in the next few years in order to meet the increasing demand for back-up energy solutions.” said CEO of CleanSpark, Zach Bradford.

 

Source : https://www.globenewswire.com/news-release/2020/02/04/1979528/0/en/CleanSpark-Announces-1-6-Million-Order-for-its-Intelligent-ATS-Switchgear.html

Smart Grid Bulletin June 2020


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