CleanSpark Awarded $287,000 Software Controls and Energy Storage Contract

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Aug 06, 2019, 08:30 ET

SALT LAKE CITY, Aug. 6, 2019 /PRNewswire/ -- CleanSpark, Inc. (OTCQB: CLSK), a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, today announced an award of $287,000 to provide software controls and energy storage for an industrial equipment sales facility in San Jose Costa Rica.

CleanSpark's solution will integrate a scalable 223-kilowatt hours of battery storage paired with a 221-kilowatt solar photovoltaic system, and a back-up generator for use during extended utility outages, all driven by CleanSpark's mPulse controls platform. The project is expected to be delivered and commissioned in November 2019. The mPulse Software as a Service (SaaS) agreement supporting the system will have an initial term of 10 years with software license fees to be paid annually.

"Our system continues to beat out competition in head to head project bids," said Zach Bradford, President of CleanSpark. "This is the second significant customer win we've announced in less than two weeks, and we expect that our business will continue its accelerated growth trajectory as we accumulate more customers. This is also a significant milestone for the Company as it further demonstrates the value of our software-based controls solution. As we continue to develop our SaaS revenue streams our profitability is expected to increase significantly over time. The projects we complete and commission in the near future will continue to provide our shareholders value for many years in the future."

About CleanSpark, Inc.:
CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Our services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services, and turn-key microgrid implementation services. CleanSpark's software allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal, deployment.

For more information on CleanSpark, please visit http://www.cleanspark.com.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. These forward-looking statements include statements regarding the potential financial impact of its new contract and the performance standards of CleanSpark's software and enterprise solutions. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: risks associated with the performance of CleanSpark's technology, the number of items delivered to customers and the timing of the shipments may not develop as we expect; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
[email protected]

SOURCE CleanSpark, Inc.