CleanSpark (CLSK) Announces Proprietary Energy Storage Equipment Software Integration

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SALT LAKE CITY, Dec. 03, 2019 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (OTCQB: CLSK), a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, today announced the addition of advanced, multi-year modeling of energy storage equipment to its Microgrid Value Stream Optimizer (mVSO) modeling solution.

mVSO’s proprietary microgrid optimization logic has been extended to model detailed vendor specific operating characteristics over full project lifetimes for a variety of energy storage solutions. This advanced modeling provides the foundation to incorporate specific energy storage solutions across a variety of industry-leading vendors as equipment options within mVSO.

Amanda Kabak, CleanSpark’s CTO and Principal Software Architect stated, “The latest iteration of our software significantly enhances our software’s capabilities to deliver accurate and optimized microgrid performance models to our customers.  While other solutions may use only generalized energy storage performance metrics to project energy storage needs for microgrid applications. This latest release of our software will enable the integration of energy-storage models across specific vendors. This goes well beyond merely ingesting specifications available on public websites. For each energy storage performance model to be released to our Customers within mVSO, CleanSpark’s engineers will review and validate vendor and product specific detailed operating performance characteristics, costs, overall vendor ecosystem and company health. As a result, users of mVSO can be sure that the performance and pricing information within the system has been rigorously reviewed to ensure it is accurate, complete, up-to-date, and that all equipment will integrate well in a CleanSpark-controlled microgrid to provide optimal economics and performance.”

Kabak continued, “One of the biggest challenges in modeling a microgrid is accurately modeling the specific operating performance of the various components. mVSO’s unique optimization approach enables customers to select a number of different vendors and energy storage solutions and apply them to a single project in order to identify the specific energy storage equipment that will produce the optimal result when paired with solar and taking into account a project’s location, utility interconnection, and specific energy use profile. To be guided to the specific storage model and sizing that is right for a project eliminates the time and guesswork most other modeling solutions require.”

Zach Bradford, CleanSpark’s CEO and President further stated, “Because mVSO will allow customers to model vendor specific product performance we expect this release to not only enhance the user experience, but also attract additional channel partners expanding our reach and selling network.  Often an energy system is a multi-million-dollar investment decision and we want to provide our customers the most accurate data available in the market.  This release will allow customers to compare multiple vendors costs and performance under project specific parameters enhancing their ability to make sound decisions based upon accurately modeled system performance and costs to determine savings that may be derived from the final system.  In addition, we will also offer a white label solution to interested vendors. The white label solution will provide the vendor’s internal and external sales teams a tool that will model only their solution thereby enhancing their ability to quickly create customer proposals.” 

Parties interested in using CleanSpark’s platform are encouraged to inquire by contacting the Company directly at  or visiting the Company’s website at

 

 

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. These forward-looking statements include statements regarding the potential future profitability and the performance standards of CleanSpark's software and enterprise solutions. 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: risks associated with the performance of CleanSpark's technology, the number of items delivered to customers and the timing of the shipments may not develop as we expect; 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.

Shawn Severson
Integra Investor Relations
(415) 233-7094
info@integra-ir.com

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Globe Newswire: 14:00 GMT Tuesday 3rd December 2019

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