CleanSpark Inc (NASDAQ:CLSK), a diversified software and services company, announced Wednesday that it has been awarded a contract to provide controls and storage for a commercial microgrid in Southern California.
The Utah-based company said it expects to realize in excess of $300,000 in initial revenues from the project as well as a long-term software subscription.
The microgrid project is designed to provide economic optimization and cost avoidance, as well as energy resiliency for the facility. CleanSpark's patented mPulse controls platform will manage a Battery Energy Storage System paired with photovoltaic rooftop solar panels.
"Our mPulse controller will optimally manage all of the distributed energy assets to ensure the customer will realize the strongest ROI while maintaining resiliency in the event of a grid disruption,” said CEO Zach Bradford in a statement.
“This project requires a particularly short execution timeline due to the client's urgent needs. CleanSpark's flexible software architecture and ease of deployment enabled us to commit to the required timelines. The ability to meet this rapid deployment schedule is yet another example of how CleanSpark's disruptive approach to energy management is a significant competitive advantage.”
CleanSpark’s stock recently traded up by 23% to $6.92 a share in New York.
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