CleanSpark Inc (NASDAQ:CLSK) announced Thursday that it has received a contract for multiple units of its intelligent switchgear equipment from a long-term energy development partner based in Houston.
The two companies have now collaborated on over 100 unique microgrid projects for which CleanSpark has provided its custom intelligent switchgear.
CleanSpark said its ATS solutions have previously been installed by the same partner to provide resilient microgrids for a large grocery store chain and for the world's largest retailer.
CleanSpark added it expects additional units to be ordered in the coming months in continued support of these end-use clients.
The most recent orders are for five Switchgear units, three of which will be installed on a surface water pumping station in the Houston area. The two additional units were ordered for a Texas-based grocery chain that has CleanSpark Switchgear currently deployed on several of their locations.
The microgrids that incorporate the intelligent ATS solutions not only monitor increasing demand intervals from the utility in order to optimize energy consumption, but also provide a reliable back-up energy solution. This 'baked-in' resiliency keeps the site operational even during extended utility outages caused by events such as hurricanes.
The latest orders are expected to add additional revenue that CleanSpark will recognize during the coming quarter. CleanSpark has shipped in excess of $7.4 million in Switchgear during the current fiscal year.
"Providing our intelligent switchgear solutions for a microgrid on a critical water pumping facility represents an entirely new market segment for the company," said CleanSpark CEO Zachary Bradford.
"The continuing, successful deployments of CleanSpark's unique hardware and software technologies in mission-critical environments have expanded the applications for our offerings. We are pleased that we can leverage our vast experience in military, commercial and industrial energy systems to support our customers as they expand into new business segments.”
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