CleanSpark, Inc., a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems announced execution of agreements for new users of its proprietary, subscription-based modeling solution, mVSO.
CleanSpark’s Chief Executive Officer Zach Bradford stated, “In May, we announced the release of the production version of our revolutionary mVSO platform. Since that time, we have completed extensive beta testing and succeeded in providing the software as a tool for development of complex projects on a case-by-case basis. We are excited to announce that we have just released improvements to the user interface making the system even more user friendly. In conjunction with this release we have launched a software subscription offering mVSO for Engineering, Procurement and Construction (EPC) firms. Subscription users can now utilize our mVSO platform which uses proprietary algorithms and machine learning to assist in the sizing and design of systems that require advanced controls. Users are now able to access the platform to model multiple projects for a reoccurring monthly fee.”
Bradford continued, “Our tool is capable of significantly decreasing the time it takes to precisely model and accurately project the economic returns of an advanced distributed Energy system. As a result, our solution provides a tangible return on investment (ROI) for our customers by improving efficiency and optimization of a project’s engineering and design. Although we are only a few days into the launch of this offering we are already seeing positive adoption of this subscription offering. The increase in Software as a Service (SaaS) revenue will be our focus for 2020 and key to our profitability goals. We believe our technology is superior in the market and as we continue to increase our market share, we expect to see significant growth in SaaS revenue beginning in the first quarter of our fiscal year ending 2020. Further, we plan to begin reporting this as Key Performance Indicator to the market at the conclusion of the quarter.”
CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Our services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services and turn-key microgrid implementation services. CleanSpark’s software allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user’s specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment.
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