CleanSpark Announces $2.5 Million in Order for its Intelligent ATS Switchgear

SALT LAKE CITY — CleanSpark, Inc., a microgrid company with advanced engineering, software and controls for innovative distributed energy resource (DER) and microgrid deployments today announced that it has secured a $2.5 million in orders for its intelligent automatic transfer switch (ATS) switchgear. The Company’s Intelligent ATS switchgear is used to automatically transfer power supply from its primary source to a backup source when it senses a failure or outage in the primary source, thus assuring uninterrupted power. It also allows the end user the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid.

CleanSpark’s new order is to a current customer that provides back-up power solutions and microgrids to its clients.  The end user of the Company’s intelligent ATS switchgear from this order is a regional grocer located in the state of Texas.  In addition to the $2.5 million order, this week, the Company also shipped the first units of a limited trial contract for an order of its intelligent ATS switchgear for end use by one of the nation’s largest retailers, with over 6,300 stores in the US.  If successful, this trial could result in a significant number of additional units during the next couple of years.

“Our continued order wins are the result of the high quality of our products and the close relationships that we have with our customers. This new order will provide improved visibility in upcoming quarters and contribute to our strong growth outlook.” said CEO of CleanSpark, Matthew Schultz.

Mr. Schultz continued, “We are particularly excited about the trial that is taking place with a large national retailer and are optimistic of a successful outcome.  If successful, this would result in very significant orders having a positive impact on our business for the next several years.  As grid related power outages become disruptive to business operations, we think the need for backup power sources will drive increased demand for our products.”