September 27, 2018 - 9:00 AM EDT
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CleanSpark Releases Best-in-Class Distributed Energy Modeling Tool

SALT LAKE CITY, Sept. 27, 2018 /PRNewswire/ -- CleanSpark, Inc. (OTC: CLSK), (The Company), a microgrid company with advanced engineering, patented software and controls for innovative distributed energy resource management systems, today announced that it has released the advanced beta of version 2.0 of the company's proprietary mVSO system.

CleanSpark's mVSO, (Microgrid Value Stream Optimizer) is a modeling and optimization tool designed to assist in the selection, sizing, interconnection, and dispatch of a wide spectrum of cutting edge DER (Distributed Energy Resource) systems. The Company's mVSO 2.0 delivers flexible system optimization using advanced analytics and big data principles including mixed-integer linear programming, predictive analytics and parallel computing to provide the ideal mix of the distributed energy benefits the Company's customers care about, including:

  • Cost Savings / Revenue Generation
  • Sustainability / GHG Reduction
  • Energy Security / Resiliency

The industry knows that optimizing a single DER technology on a single meter generally requires an expert. Optimizing multiple DERs requires deep industry knowledge and substantial effort.  Optimizing multiple DERs across multiple meters and tariffs is exponentially more challenging and requires advanced algorithms to navigate the myriad of potential solutions. This is why the Company developed mVSO 2.0 and currently utilizes it inhouse to design its current and future projects.

The Company's mVSO 2.0 software can model both simple and extremely complex systems and significantly reduce the time and capital required for initial engineering and modeling. The Company is seeking to identity advanced users such as engineering firms and energy developers with an interest in licensing the software to streamline their processes and increase profitability. The Company expects to release the final version to its customers once Beta testing is completed, which it expects to conclude during the first quarter of 2019. The platform is flexible enough to design systems for almost any application but industries that will gain the largest benefits include:

  • Commercial and Industrial Campuses
  • Retail Shopping Centers
  • Multi-Family Developments
  • Neighborhoods
  • Energy-intensive indoor and outdoor controlled distribution agricultural facilities

"The ability to accurately model the long-term economics, system optimization, detailed incentive analysis and integration of multiple nodes into a single, distributed energy ecosystem has been very problematic and time consuming if not impossible to this point within our industry." Stated Billy Gamboa, CleanSpark's Director of Analytics. "Properly sizing systems to meet the exacting standards of our clients regarding energy security, sustainability and cost-savings or revenue generation has allowed us to create strategic relationships throughout a broad cross-section of both vendors and end-users. These relationships should ultimately generate long-term revenue streams for the company within all divisions of our business, including operational software license and shared savings revenues," concluded Gamboa.

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.

Safe Harbor Statement:
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.

Contact - Investor Relations:
S. Matthew Schultz
Chief Executive Officer
(801) 244-4405
[email protected]

 

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SOURCE CleanSpark, Inc.


Source: PR Newswire (September 27, 2018 - 9:00 AM EDT)

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