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CleanSpark seeing increased demand for its energy solutions as power outages hit communities worldwide

Since January 1, it has received new orders worth US$238,000 for its intelligent automatic transfer switch

Cleanspark, Inc. -
"These large-scale problems are affecting millions of people around the globe with the problem being exacerbated by natural and manmade disasters and an aging grid infrastructure worldwide"

CleanSpark Inc (OTCMKTS:CLSK) says it's seeing increased demand for the group's energy solutions as the new year begins, while its microgrids are becoming increasingly more important amid natural and manmade disasters and an ageing grid network. 

Since January 1, the firm has received new orders worth US$238,000 for its intelligent automatic transfer switch (ATS) which serve microgrid deployments, the company said.

READ: CleanSpark executes pact with Shoreline Unified School District to establish energy grid resiliency

These consist of four units ordered by two customers - one current and one new. The current customer's order follows one made last May for US$2.5 million and one for US$359,000 last month.

Based on continued positive demand trends, CleanSpark expects to receive additional follow-on orders before the end of January, the company added.

"These deployments provide economic benefits to their owners on an ongoing basis, but also provide our customers and the surrounding communities with secure power sources in times of grid disruption including those resulting from natural disasters," said  Zach Bradford, CleanSpark’s CEO, who cited the Puerto Rico earthquakes this month.

He said Puerto Rico is now contending with brownouts and rolling blackouts across the grid due to its weakened infrastructure. While the conventional grid is failing across the country, microgrids, such as those supporting a Boys and Girls Club and a children’s hospital, have become a staging center for the community due to their reliable power sources being provided by microgrids. 

Bradford said the group was now looking to expand its network of external sales representatives to include Puerto Rico. 

"Our microgrid solutions have already successfully proven the ability to provide secure power supplies to Texas communities after hurricanes and we are now in the process of developing solutions for school districts in California communities plagued by fires," he added.

Large-scale problems

"These large-scale problems are affecting millions of people around the globe with the problem being exacerbated by natural and manmade disasters and an aging grid infrastructure worldwide. 

"We believe this inflection point in favor of microgrids is creating a significant market for CleanSpark’s energy solutions," he said, adding that it will not only have a positive impact on the company's operations but also the affected communities.

CleanSpark's software allows a microgrid to be scaled to the user's specific needs and can be implemented across commercial, industrial, military and agricultural sectors.

Shares nudged up in New York 1.52% to $5 each.

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Price: 8.88 USD

NASDAQ:CLSK
Market: NASDAQ
Market Cap: $193.9 m
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