CleanSpark deploys mPulse software on off-grid installation system in California City

CleanSpark Inc (NASDAQ:CLSK) announced Tuesday the successful commissioning and deployment of its mPulse software on a comprehensive off-grid installation system in California City, California.  The Utah-based company is providing software and controls as well as a battery energy storage solution (BESS) for the system. Good Energy Solar is the lead project developer that provided the photovoltaic (PV) solar system and installation services. The system integrates 43 kilowatts (kW) of solar PV with 60 kW BESS and a 45 kW baseload generator, with 150 kW generator planned for future business growth. READ: CleanSpark upgrades its proprietary Microgrid Value Stream Optimizer software Engaged by Good Energy Solar, CleanSpark said it deployed its team of energy professionals to produce a project feasibility analysis of the system utilizing CleanSpark's microgrid Value Stream Optimizer (mVSO) platform, a SaaS-based software and industry-leading solution for energy project analysis and modeling.  Energy resiliency and savings were the primary factors in mVSO's modeling exercise for the end-user, a controlled-distribution agricultural facility. Based on this and a variety of factors, mVSO provided a 20-year economic model outlining the cash flows of the system and detailed cost-avoidance benefits.  In the end, mVSO was able to analyze and provide the end-user with a plan to deploy a full, off-grid system sized to meet its needs, which included recommendations for complete project specifications and implementation plans for the solution. "Given the remote location of the end-user's operation, local utility companies were unable to provide electrical grid service to the facility in a timeframe that supported their business plans,” said CleanSpark CEO Zach Bradford. “By going completely off-grid, CleanSpark and Good Energy Solar have allowed the customer to create and independently own their energy system to meet their current and future power requirements.”  Bradford noted that CleanSpark’s controls are designed to minimize fuel consumption to provide the lowest possible levelized cost of energy. It is also fully expandable and can integrate utility grid power as the business grows.  Increasing revenues In other company news, Bradford said the company expects to see revenues and margins improve as its mPulse software deployments increase.  “Deployments like these also create additional opportunities for CleanSpark to continue to add long-term SaaS revenues,” he said. “Our team is excited about this opportunity to again demonstrate the value of our controls software for a customer that would otherwise be subjected to high energy operating costs due to public utility constraints.”  Bradford said year-to-date revenues through mid-June are about $7.7 million and expected to exceed $8 million by the end of the current fiscal quarter.  The company’s stock recently traded up 1.9% to $2.10 a share in New York. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham