Microgrids are Quickly Becoming a Top Solution to Energy Problems

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Jan 23, 2020, 09:15 ET

PALM BEACH, Florida, Jan. 23, 2020 /PRNewswire/ -- Microgrids are becoming essential for millions of people around the world. After earthquakes and aftershocks left Puerto Rico without power, microgrids installed at 10 schools continue to run, providing power to residents. When PG&E shut off power in California to battle high winds and fires, Northern California's Blue Lake Rancheria tribe helped thousands of people with its microgrid. Companies such as CleanSpark Inc. are conducting feasibility studies on how microgrids can power the Shoreline United School District and its surrounding communities. While no one keeps count of how many microgrids operate in the state, notes The Washington Post, many large universities, medical centers, and public safety operators have them. "The idea is simple. Microgrids are connected to the larger utility system when the electricity is on, contributing power in some cases. When there is a power cut, microgrids can become 'islands' — disconnect from the system and use solar-generated energy stored in batteries to operate independently." Over time, microgrids may just change the way the world generates energy altogether. That's creating sizable multi-billion-dollar opportunity for top companies like CleanSpark, Inc. (OTCQB:CLSK), Eaton Corporation PLC (NYSE:ETN), General Electric Company (NYSE:GE), Lockheed Martin Corporation (NYSE:LMT), and FuelCell Energy Inc. (NASDAQ:FCEL).

CleanSpark, Inc. (OTCQB:CLSK) BREAKING NEWS: CleanSpark, Inc. announced today that Nasdaq has approved its application to have its common stock listed on the Nasdaq Capital Market. CleanSpark expects to commence trading on Nasdaq under the symbol "CLSK" at the opening of trading on Friday, January 24, 2020. "We are very excited with the listing of our shares on the Nasdaq, as this represents another significant milestone for CleanSpark. This up-listing to Nasdaq is a major corporate achievement reflecting growing momentum and financial performance throughout 2019. We are continuing to leverage our software portfolio and cutting-edge products throughout the distributed energy market and positioning the Company for continued revenue growth in 2020 and beyond. We believe our Nasdaq listing will help to increase long-term shareholder value by improving awareness, liquidity, and expanding our investor base to include more institutional investors" said Zachary Bradford, CEO of CleanSpark Inc.

Other related developments from around the markets include:

Eaton Corporation PLC (NYSE:ETN) will announce fourth quarter 2019 earnings on Tuesday, February 4, 2020, before the opening of the New York Stock Exchange. The company will host a conference call at 11 a.m. Eastern time that day to discuss fourth quarter 2019 earnings results with securities analysts and institutional investors. The conference call will be available through a live webcast that can be accessed via the Eaton Fourth Quarter 2019 Earnings Results link on Eaton's home page, which is www.eaton.com. The call replay and news release will also be available from this web link.

General Electric Company (NYSE:GE) Renewable Energy's Grid Solutions business has been awarded a multi-million dollar project for the design, supply, construction and commissioning of onshore and offshore wind substations for the Neart na Gaoithe (NnG) offshore wind farm, 12 miles off the Fife coast in Scotland. The offshore wind farm project is jointly owned by EDF Renewables and ESB. EDF Renewables is one of the UK's leading renewable energy companies and ESB is an Irish Energy Company operating across the electricity market on the island of Ireland, with an established and growing presence in Great Britain. GE is responsible for the turnkey delivery of all infrastructure within the perimeter, including ground works and civil construction.

Lockheed Martin Corporation (NYSE:LMT) will webcast live its fourth quarter and full year 2019 earnings results conference call on Tuesday, January 28, 2020, at 11:00 a.m. EST. Marillyn Hewson, chairman, president and chief executive officer; Ken Possenriede, executive vice president and chief financial officer; and Greg Gardner, vice president of investor relations, will discuss fourth quarter and full year 2019 financial results, provide updates on key topics and answer questions. Fourth quarter and full year 2019 results will be published prior to the market opening on Tuesday, January 28.

FuelCell Energy Inc. (NASDAQ:FCEL) announced the details of its new "Powerhouse" business strategy, which is focused on the fundamental pillars of Transform, Strengthen, and Grow. "Building on our 50-year history of innovation and our leadership in the advancement of fuel cell technology, we are embarking on a new "Powerhouse" business strategy focused on strengthening our operations and industry positioning to enable the delivery of sustained profitable growth to benefit all of our stakeholders," said Jason Few, President and Chief Executive Officer. "In 2019, we largely completed the restructuring necessary to support our new business strategy, including accomplishing several foundational milestones toward achieving profitable growth and reestablishing our position of industry leadership. We are now able to focus fully on execution of our strategy and both growing our existing business and expanding into new products, markets and geographies."

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