The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Leading up to the 2020 U.S. elections, many policy issues regarding energy sustainability and innovation lay unaddressed, mostly due to a divided U.S. Congress.
Now, as polls are increasingly pointing to a Democratic majority, the conversation will turn to how to navigate forward.
That’s according to Zach Bradford, the CEO at the microgrid software and services company CleanSpark Inc CLSK, who caught up with Benzinga to discuss recent innovations and growth at his firm.
A Democratic House, Senate and White House would oversee the passage of more progressive legislation, helping fuel innovation in the energy sector, he said.
That’s good news for CleanSpark, which enables increased resiliency and economic optimization in energy generation, storage and distribution.
“I think CleanSpark wins either way,” the CEO said. Yet “with a largely Democrat win, in addition to there being more funding for green energy, we do expect overall incentives to improve.”
Product Growth: CleanSpark is an agnostic solution for energy resiliency, cost avoidance and emissions reduction.
Bradford talked about mPulse, mVSO and GridFabric, a few solutions from CleanSpark that he said take the uncertainty and volatility of energy costs off the table.
“mPulse, our energy controller, is an optimization engine,” the CEO said. “It acts as the conductor of the orchestra, telling things when to do what they do best.”
Simply put, mPulse leverages artificial intelligence principles to forecast usage and moderate grid behavior, helping companies save money on power.
Additionally, CleanSpark introduced energy-as-a-service agreements, allowing it to own and operate energy systems while selling power or savings to the end-users.
“We can provide the same power, or better, for a lower amount,” he said. “We pass a percentage of the savings, and we keep the rest.”
The agreements allow end users to get around the costly endeavor of deploying energy systems, such as installing solar panels and batteries, and facilitates a path to long-term profit generation.
Bradford on Innovation: CleanSpark recently executed multiple software subscriptions, assisting electric vehicle charging companies in their communication with utilities in order create revenue-generating mechanisms that balance their demand response programs.
“We turned our offering into a SaaS subscription model where somebody can get certified, then deploy the software [with] no substantial upfront fee,” the CEO said. “That allows somebody to deploy their business, to generate revenue, execute on strategy, and we grow with them as they scale.”
CleanSpark expects to double its business in the next 12 months to $20 million, Bradford said.
“In addition to the organic growth, we’re deploying an acquisition strategy,” he said, referencing CleanSpark’s recent purchase of GridFabric.
“We also closed on $40 million of funding and our intention is to take up to half of that, and point it towards acquisitions that are technology-focused and software-related.”
To learn more about CleanSpark's distributed energy solutions, click here.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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