May 31, 2017 - 8:00 AM EDT
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CleanSpark Completes Installation of Comprehensive Residential Microgrid

100% Off-Grid System Powers Utility and Water Systems at a Private Residence

SALT LAKE CITY, May 31, 2017 /PRNewswire/ -- CleanSpark, Inc. (OTC: CLSK), a microgrid company that is combining a patented "stratified" downdraft gasifier along with advanced engineering, software and controls for innovative distributed energy resource management systems, today announced it has engineered, designed and installed a fully off-grid, triple-redundant power system at a private, residential estate in Southern California.

Matthew Schultz, Chief Executive Officer of CleanSpark, Inc., commented, "This residential installation is a perfect example of a clean, sustainable, smart energy solution that will provide a quick payback, significantly reduce ongoing operational costs, provide self-sustaining, independent power and reduce the usage of fossil fuel. At the heart of the system is our flex Power System™, an advanced energy software and control technology, that enables the owners to meet their around-the-clock power needs and manage the capture, storage and utilization of clean solar power to operate the residence efficiently and at much lower cost than traditional power sources over the life of the system."

"The advanced engineering and seamless integration of our system overcomes the obstacle of combining the capture of solar energy with efficient storage and envelopes them in a user-friendly, icon-driven management system," continued Schulz. "As the cost of energy storage continues to come down, we believe the application of microgrid solutions to the residential market will continue to increase, and we are well-positioned with a robust offering to capture a fair share of the opportunities."

The company's flex Power System will store and provide energy generated from a large on-site solar installation, enabling the residence to operate entirely from solar-generated battery power. The smart system will monitor load capacity and energy generation and utilize battery heuristics to optimize the operation of heating and cooling systems and the filling of water tanks that supply the home. Over time, the system will continuously adapt and modify its algorithms to achieve optimal operational results and peak performance. The microgrid uses 12.4kW of mounted solar photovoltaic (PV) cells and 20.4kW of lithium ferrous phosphate energy storage, supplied by SimpliPhi Power, and an 11kW natural gas emergency backup genset, supplied by Generac. The cost of the system, when compared to the cost of utility installation and on-going operation by the local utility provider, is expected to achieve a payback to the customer in approximately one year and provide significant savings in utility costs over the life of the system. In addition to the estimated hundreds of thousands of dollars in savings, the system also eliminates the operational risk of any grid disruption from the local utility provider.

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 solar monitoring solutions, microgrid design and engineering, project development consulting services, system installation and consulting, and turn-key microgrid implementation services. We also combine our microgrid services with its revolutionary and patented stratified downdraft gasifier. The gasifier was developed with partners such as Petersen, Inc., ICON Renewables, Combustion Resources and others to create a logical solution for profitably handling MSW, Coal, Plastics, Municipal Sewage and many other feedstocks. All with ZERO airborne emissions. We've aligned ourselves with research universities such as Utah State University, The University of Utah, and BYU to certify and maximize the efficiencies and production of our technology. By integrating new and existing energy generation and storage assets with advanced load management capacities, CleanSpark's software allows energy generated locally to be shared with other interconnected microgrids. This unique capability enables microgrids to be scaled and widely adopted for commercial, industrial, military, municipal, and remote community deployment.

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

About SimpliPhi Power

Founded in 2002 as LibertyPak/Optimized Energy Storage, SimpliPhi Power designs and manufactures efficient, non-toxic and enduring energy storage and management systems that utilize lithium ferro phosphate (LFP). Based in Ojai, California, SimpliPhi combines the non-hazardous LFP energy storage chemistry with its proprietary cell and battery architecture, power electronics, Battery Management System (BMS) and assembly methods to create safe, reliable, durable and highly scalable on-demand power solutions for the residential, commercial, military, emergency response and film industries. Integral to all SimpliPhi Power solutions is a proprietary management system that further optimizes the life-cycle, performance and durability of its batteries. SimpliPhi Power storage system components are UL certified and have been rigorously tested and passed requirements by the U.S. Army and Marine Corps. For more information, please visit SimpliPhipower.com and follow us @SimpliPhiPower or Facebook and LinkedIn.

About Generac

Since 1959, Generac has been a leading designer and manufacturer of a wide range of power generation equipment and other engine powered products.  As a leader in power equipment serving residential, light commercial, and industrial markets, Generac's power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers. 

Information about Forward-Looking Statements

Statements in this press release relating to plans, strategies, testing and operational performance, projections of results of specific activities and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission (the "SEC").  For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent SEC filings, which are available at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Website: http://www.cleanspark.com  

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

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cleanspark-completes-installation-of-comprehensive-residential-microgrid-300465372.html

SOURCE CleanSpark, Inc.


Source: PR Newswire (May 31, 2017 - 8:00 AM EDT)

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