Benzinga | Jun 3, 2021 10:19AM EDT

Cleanspark, Pioneer Power Expand Contract Manufacturing Partnership; Cleanspark Becomes Think Microgrid Member

* Cleanspark Inc (NASDAQ:CLSK) has extended its contract manufacturing agreement with Pioneer Power Solutions, Inc (NASDAQ:PPSI).

* Pioneer Power can utilize Cleanspark's proprietary software products, including mPulse and GridFabric's OpenADR solutions under the arrangement. Pioneer plans to bundle the solutions with PowerBloc, PPSI's integrated charging and power solution for EV (electric vehicle) infrastructure. Additionally, Cleanspark became a preferred distributor of the PowerBloc solution.

* Cleanspark also became a Think Microgrid group member consisting of Microgrid and Energy companies to drive state and federal policies.

* The expanded partnership will enable Cleanspark to combine mPulse and GridFabric within multiple EV integrations for Pioneer Power, Cleanspark's Chief Revenue Officer, Amer Tadayon, said.

* Cleanspark will also add PowerBloc to its microgrid solutions to assist both customers to affordably add EV charging across all of their targeted portfolio locations. Both initiatives are expected to drive new sales revenue for Cleanspark, Tadayon added.

* Price action: CLSK shares traded lower by 1.17% at $16.95 on the last check Thursday.