SALT LAKE CITY, May 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, is pleased to announce that the United States Patent and Trademark Office (USPTO) has approved for issuance an additional patent protecting the company's technology. The USPTO notification indicates that the application will issue as U.S. Patent No. 10,658,839 on May 19, 2020.
"Today's patent specifically protects our proprietary system and method for distributing energy between microgrids. It particularly addresses the challenge of determining when it is appropriate for one microgrid to share power with another microgrid. In the patented system and method, a microgrid forecasts its own future power needs, the microgrid then uses this forecast to determine if and when to share power with another microgrid," stated Zachary Bradford, CleanSpark's President and CEO.
"This patent further protects the technology and methods our platforms use to intelligently make decisions related to power sharing based on factors ranging from energy demand, utility rates, time-of-use, weather forecasting and others. The value of integrating multiple microgrids in concert to create an ecosystem of resources working together to achieve increased resiliency, efficiency for cost-avoidance, revenue generation or reduction in greenhouse gas emissions is significant. Our system flexibility allows these priorities to be set by the system owner," concluded Bradford.
Parties interested in learning more about CleanSpark's software platforms or services are encouraged to inquire by contacting the Company directly at [email protected], or visiting the Company's website at www.Cleanspark.com.
CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that 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. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.
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. 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: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, the ability for us to successfully protect and enforce our intellectual property rights, demand for our software products, the effect of COVID-19 on the economy and markets, generally, 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.