Microgrids are Becoming the Most Sought After Solution to Energy Problems

Palm Beach, FL – February 4, 2020  – We’re seeing a groundswell of interest for microgrids.  All thanks to demand for resiliency, and far better energy security at all times.  Just over the last few days, Xcel Energy for example is seeking approval to move forward with microgrids at the Denver International Airport Automated Guideway Transit System; National Western Center; Denver Rescue Mission’s Lawrence Street Community Center; City of Arvada Center for the Arts and Humanities; Town of Nederland Community Center; Summit County Middle School; and Alamosa Family Recreation Center, as reported by Microgrid Knowledge. The Rhode Island Progressive Democrats have launched a project could make sure the city of Cranston, Rhode Island achieves 100% renewable energy by 2030 using a series of solar and wind microgrids, a central microgrid, a virtual power plant (VPP) and a municipal utility.  Better, the California Independent System Operator (CAISO) believes they’ll see planned microgrids and resiliency projects built before the next wildfire season.  News like that is creating sizable, exciting opportunity for top companies like CleanSpark, Inc. (NASDAQ:CLSK), General Electric Company (NYSE:GE), Eaton Corporation PLC (NYSE:ETN), Home Depot Inc. (NYSE:HD), and Walmart Inc. (NYSE:WMT).

 

CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc., a software company with advanced engineering, software and controls for innovative microgrid and distributed energy resource management systems today announced that it has secured a $1.6 million order for its intelligent automatic transfer switch (ATS) switchgear. The Company’s intelligent ATS switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage in the primary source, thus assuring uninterrupted power. It also allows an end user with excess energy generation the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. The units are expected to be shipped over the next two fiscal quarters. “Our customer will pair our ATS units in a microgrid configuration to provide resilient microgrid power for shopping centers. This new order will provide increased exposure of our products to shopping centers in upcoming quarters and contribute to our strong revenue growth outlook.  As grid related power outages become increasingly disruptive to business operations, we think the need for backup power sources will drive increased demand for our products.” said Chairman of CleanSpark, Matthew Schultz.

 

“CleanSpark’s new order is a result of a successful pilot project in 2019 by which our customer deployed multiple ATS units paired with generation assets at several locations of one of the nation’s largest retailers, with over 6,300 stores in the US.  As a result of the successful performance of the project this follow-on order was placed.  This follow-on order was approximately four times larger than the pilot order and we expect to continue to receive orders for a significant number of additional units during in the next few years in order to meet the increasing demand for back-up energy solutions.” said CEO of CleanSpark, Zach Bradford.

 

Other related developments from around the markets include:

 

General Electric Company (NYSE:GE) announced results for the fourth quarter ending December 31, 2019. GE Chairman and CEO H. Lawrence Culp, Jr. said, “The fourth quarter marked a strong close to the year for GE. We met or exceeded our full-year financial targets and are on a positive trajectory for 2020. We’re proud of our progress in 2019, including decisive actions to reduce our leverage and strengthen our businesses. Our work continues, but GE’s committed team, exceptional technology, and global network make me more confident than ever that we can deliver.” Culp continued, “Our priorities looking forward are clear. We are solidifying our financial position, continuing to strengthen our businesses as improvement efforts build momentum, and driving long-term profitable growth. We remain committed to creating value as we continue our multi-year transformation.”

 

Eaton Corporation PLC (NYSE:ETN) announced today it is working with utilities to fortify the grid against the wildfire threats. The company’s comprehensive approach includes immediate methods for reducing risk over wide areas, cutting-edge technologies to support smarter and more resilient power distribution, and research and development investments that will advance modernization through innovative and field-proven strategies.  Fortifying the electric grid against the threat of wildfires has never been more important. Research shows wildfires impacted an average of 7.6 million acres across the U.S. each year  from 2014 to 2018. Utilities are accelerating wildfire prevention efforts. Speed, intelligence and cost-efficiency are critical enablers of a more resilient grid. “Combatting wildfires is a critical concern across the U.S. and around the world,” said Jon Wehrli, president, Power Systems, Eaton. “To help address this challenge, we’re working directly with utilities to implement site-ready solutions that strengthen the electric grid.”

 

Home Depot Inc. (NYSE:HD) has been recognized as a global leader on corporate climate action for its efforts to reduce its environmental impact and build a more sustainable future for consumers and their homes. CDP, an environmental impact non-profit, named The Home Depot to its Climate Change “A List” for its actions to cut carbon emissions and mitigate climate risks.  Every year, thousands of companies disclose data about their environmental impacts to CDP for independent assessment and receive scores ranging from A to D- for how effectively they are tackling climate risks and building toward a future zero-carbon economy. The Home Depot is focused on reducing carbon emissions by continually improving energy efficiency in its operations and expanding investments in renewable and alternative energy. As a result, the company has reduced absolute carbon emissions by over 3 million metric tonnes since 2009. This was achieved amid significant growth – from $66 billion in sales in 2008 to $108 billion in 2018. The company also set science-based targets in 2018 to achieve a 40 percent reduction in its carbon emissions by 2030 and a 50 percent reduction by 2035.

 

Walmart Inc. (NYSE:WMT) just announced  the USDA made their SNAP Online Purchase Pilot live in Washington. “We continue to be excited to be part of the USDA’s pilot program and to be able to make our Grocery Pickup and Delivery service available to more and more people, regardless of their payment method. Access to convenience, quality and fresh groceries shouldn’t be dictated by how you pay. We have a strong presence in the states in which the pilot is live and we look forward to expanding.” The SNAP Online Purchase Pilot makes the offer even more convenient and comes in addition to the chain-wide availability of SNAP at Pickup – a program that allows customers to place their grocery order online with Walmart and transact using their EBT benefit card.

 

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