Benzinga | Aug 19, 2021 09:26AM EDT

CleanSpark Rolls Out Smart Residential Microgrid Solution, Mobile App, mVoult

CleanSpark, Inc. (NASDAQ:CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced an update to ongoing roll-out of mVoult, the Company's smart energy system and companion mobile app designed specifically for homes and small businesses.

CleanSpark's Residential Microgrid Solution, mVoult Available for California Customers. National Expansion to Follow.

mVoult is built off of the same platform as CleanSpark's existing, patented mPulse product, which is tough enough for the military and is also flexible enough to be used in commercial, industrial, and estate home applications.

mVoult is a single solution for resilient, reliable, and cost-effective energy for residential properties of all sizes. The system is fully configurable according to the user's needs. Homeowners can start small and expand the modular system without significant design changes as their goals or requirements grow. mVoult enables a system to use power generated from multiple sources, including the main utility, solar, or battery. It also supports storing energy for use during utility disruptions or when economic opportunities exist to lower utility bills.

"We've anticipated using our microgrid technologies to create a cost-effective product offering which can add significant value to the residential energy sector by giving homeowners the choice of power so that they can determine the best application for their individual needs," said CleanSpark President and CEO Zach Bradford. "The pandemic made it more apparent how important self-reliance can be, by giving our customers the opportunity to generate, use and store energy with a focus on renewable resources. CleanSpark is committed to supporting that process."

The companion mobile app connects to the mVoult smart power system and is the window into the homeowner's power system. With the app, users can see how their systems are performing, understand all-time and month-to-date energy cost savings, and view and change system settings, including battery reserve, and monitor the system's energy usage in real-time. The mobile app is available for download in both the Apple and Google Play app stores.

The Company is focusing on California for its first phase of installations as much of the state continues to face disastrous wildfires and power outages. mVoult provides resiliency and cost savings whether the traditional grid is up or down.

The Company has a significant supply of batteries either in transit, or in the Carlsbad warehouse, which are continuing to be deployed as quickly as permitting and personnel allow.

Despite global battery supply shortages, CleanSpark has solidified partnerships with multiple top-tier residential battery manufacturers providing ample supply to meet our growing customer demand.

"We are seeing positive improvements to the overall global supply chains and have been rapidly deploying batteries," said Amer Tadayon, CleanSpark Chief Revenue Officer and Energy Division President. "We expect continued normalization, adding momentum to our residential energy initiative."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .