CleanSpark, Inc. (NASDAQ: CLSK) has revealed that it has decided to use its software on a new solar plus storage grid project in Central America. The software company has partnered with an energy developer to implement this new solution for Microtechnologies SA. This new project is for their factory which is located in San Jose.
This microgrid project between two companies will provide grid-tier solar and energy storage system to decrease the utility energy cost. Another function of the energy storage system is to provide backup power in case of an outage. CleanSpark is the main provider of energy software and control technology in the US. The company has already executed some microgrids projects in Latin America.
The software company is providing its patented mPulse controls with market-based forecasting and operation. It has announced that the company has acquired and decided to include the Tesla (TSLA) PowerPack 2 battery energy storage system. Tesla’s energy storage system has the ability to provide 558kW/1115kWh storage.
Shares of CleanSpark Inc went up 28.48% as it gained +3.29 during the trading session of Monday. It has a closing price of $14.84. In the past 52-weeks of trading, this company market stock has fluctuated between the low range of $0.97 and a high range of $13.98. It has moved up 1429.90% and 6.15% from its 52-weeks low and high, respectively. Looking at its profitability, its return on assets, equity, and investment is -125.40%, -168.30%, and -75.60%, respectively. This company’s market capitalization has remained high, hitting $227.94 million at the time of writing.
If we look at the collaborative project of CleanSpark and energy developer, it has also included the 480kW AC, 531kW DC of PV (photovoltaic) solar panels. This microgrid project is known for a mPlus controller paired with a Tesla energy storage solution. The mPlus controller of CleanSpark will provide an opportunity for Microtech to reduce the utility operating costs.
Previously, CleanSpark has announced that it has got a contract for multiple units of its intelligent switchgear equipment from a long-term energy development partner based in Houston, TX.