Over the next six years, the global microgrid market could be worth up to $26 billion, according to Global Market Insights. All thanks to increased power failures and inadequacies of power grids, coupled with increased demand for energy. That’s in addition to rising demand for “clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable and secure global power supply, and rising global deployment of microgrids for rural electrification,” as noted by Research and Markets. In California, for example, several cities are now pursuing microgrid projects, which has been fueled by wildfire-related shutoffs, and a desire to lower energy costs. As demand grows, some of the top companies to watch include CleanSpark, Inc. (NASDAQ:CLSK), Enphase Energy Inc. (NASDAQ:ENPH), Honeywell International Inc. (NYSE:HON), Tesla Inc. (NASDAQ:TSLA), and Ballard Power Systems Inc. (NASDAQ:BLDP).
CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc., a diversified software and services company today announced that it has recently added Rachel Silverstein and Owen Cadwalader to its management team. Mrs. Silverstein is former Corporate Counsel at Zappos, a company owned by Amazon, Inc. Silverstein’s role at CleanSpark is to serve as the Vice President of Compliance and General Counsel where she will be assisting in compliance, mergers and acquisitions, as well as all general legal matters. Mr. Cadwalader was most recently an executive with Molekule, a clean-air technology company. Prior to Molekule, Owen served as VP/Co-founder of OptiRTC a cloud software platform for smart water management. As VP of Operations, Cadwalader will oversee product delivery, customer experience, and help align multiple virtual office teams to further streamline operations.
These are the first significant additions to the team as part of a larger growth plan following the Company’s recent $40M institutional investment. CleanSpark has stated that it intends to focus on growth through accretive opportunities and expansion of the Company’s product offerings, in addition to adding to sales and marketing efforts. CleanSpark expects to add to its existing professional engineering teams in addition to sales and business development personnel.
Zachary Bradford, CleanSpark’s CEO said, “We are very excited to have Mrs. Silverstein join the management team as it will provide increased efficiencies in all areas of our operations and compliance. We expect that by adding such experienced inside General Counsel we can streamline many processes and procedures, ultimately creating greater value for all stakeholders.” Bradford then added, “Mr. Cadwalader’s experience should begin to pay dividends to CleanSpark almost immediately. Previously, as VP/Co-founder of OptiRTC, Owen developed an expertise in monitoring and adaptive control of stormwater systems which makes him a great fit for CleanSpark’s energy control technology. Essentially, critical water flow is managed through opening and closing water distribution valves and systems, similarly electrical energy is controlled by opening and closing critical circuit breakers.”
Matthew Schultz, CleanSpark’s recently-named Executive Chairman stated, “We expect these additions to represent the beginning of a new phase for the Company that will feature personnel expansion, product enhancements, and strategic acquisitions. We recently announced the development of the GridFabric SaaS (Software-as-a-Service) option, and plan to soon provide an EaaS (Energy-as-a-Service) offering as well. These initiatives will be supported by additional staff on the CleanSpark product and sales teams and through CleanSpark’s wholly owned subsidiaries.”
CleanSpark recently participated in Solar Power International, part of Smart Energy Week, where the Company’s CTO Amanda Kabak was featured as a Presenter. CEO Zachary Bradford also provided additional updates to investors on the company’s funding via a presentation through the RenMark Investor Roadshow. Both recordings can be found on the events page at https://ir.cleanspark.com.
Other related developments from around the markets include:
Enphase Energy Inc. (NASDAQ:ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced that Cutler Bay Solar Solutions, Florida’s largest family-owned solar-plus-storage installation company and a Platinum tier member of the Enphase Installer Network, has deployed more than 1.5 MWh of Enphase Encharge™ storage systems. Cutler Bay Solar Solutions was a lead installer in the Enphase Encharge storage system field testing program, providing technical and useability feedback directly to Enphase. Since its public release in late July 2020, Cutler Bay Solar Solutions has deployed more than 1.5 MWh of Encharge storage systems across 80 homes in the South Florida market. The installations include a combination of Enphase Encharge 10™ and Encharge 3™ storage systems, which offer usable and scalable battery storage capacities of approximately 10.1 kWh and 3.4 kWh, respectively. The Encharge storage system is modular, allowing installers the flexibility for either backing up the whole home or starting small and growing over time, depending on homeowner needs.
Honeywell International Inc. (NYSE:HON) announced that Vimal Kapur, president and chief executive officer of Honeywell Building Technologies, will present at the Morgan Stanley Life After COVID Thematic Conference on Tuesday, Nov. 10, 2020, from 9:45 a.m.-10:15 a.m. EST.
Tesla Inc. (NASDAQ:TSLA) we produced just over 145,000 vehicles and delivered nearly 140,000 vehicles in the third quarter. As noted in its press release, “In terms of days of sales, new vehicle inventory declined further in Q3 as we continue to improve our delivery efficiency.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.”
Ballard Power Systems Inc. (NASDAQ:BLDP) announced consolidated financial results for the third quarter ended September 30, 2020. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). “While Ballard’s employees and operations have not been appreciably impacted by COVID-19 to this point, as previously communicated, delays in end market deployments and customer orders are nonetheless impacting our 2020 revenue and results,” said Randy MacEwan, President and CEO. “In Q3, Ballard delivered revenue of $25.6 million, gross margin of 19% and ending cash reserves of $361.7 million.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for CleanSpark, Inc. by a third party. We own ZERO shares of CleanSpark, Inc. Please click here for full disclaimer.
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