3/18/2023 0 Comments Cleanspark commercial![]() ![]() We are committed to creating shareholder value and we believe our company is better positioned for improved performance with a more simplified offering. Our switchgear segment and its successful penetration of new and rapidly expanding markets such as distributed generation and energy storage, has created an exciting strategic opportunity. Nathan Mazurek, Pioneer’s Chairman and Chief Executive Officer, said, “The planned sale of our switchgear business is an important part of our strategy to simplify our portfolio, reduce costs and focus on our core transformer business. “Traditional ‘hardware only’ solutions will now have locally controlled, AI honed, cloud-based insights to improve energy-security, cyber-security and economic optimization.” “With the acquisition of Pioneer CEP, we’ve secured a specialized, vendor agnostic hardware solution, which, when coupled to our proprietary adaptive controls platform, allows for a simplified business development model, ease of deployment and opportunity for rapid growth,” stated Matt Schultz, CleanSpark’s Chief Executive Officer. The combined companies have more than $40 million in outstanding contract proposals issued for fulfillment prior to the end of 2019. Since January of 2016, Pioneer CEP has delivered in excess of $32 million in products and currently has a contracted backlog in excess of $5.6 million. Pioneer CEP is a designer and manufacturer of highly engineered custom electrical equipment, including, but not limited to high and medium voltage switchgear, automatic transfer switches, low and medium voltage control systems, switchboards and panelboards. an equipment lease agreement that provides for the lease of equipment from Pioneer to CleanSpark Ĭlosing is anticipated to occur on or before June 30, 2018.an 18-month promissory note equal to the net carrying value of the current assets and liabilities as of the date of closing and.a 5-year warrant to purchase 1,000,000 shares of CleanSpark common stock at an exercise price of $2.00 per share.7,000,000 shares of CleanSpark common stock a 5-year warrant to purchase 1,000,000 shares of CleanSpark common stock at an exercise price of $1.60 per share.(NASDAQ: PPSI), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment today announced that the two companies have signed a definitive agreement wherein CleanSpark will acquire substantially all of the assets and operations of Pioneer’s wholly owned subsidiary, Pioneer Custom Electrical Products (Pioneer CEP).Īs consideration for the assets, CleanSpark will provide Pioneer with the following: (OTC: CLSK), a microgrid company with advanced engineering, software and controls for innovative distributed energy resource management systems, and Pioneer Power Solutions, Inc. SALT LAKE CITY and FORT LEE, NJ – May 8, 2018, /PRNewswire/ – CleanSpark, Inc. We are very happy with our partnership with Webcor and CleanSpark and look forward to the continuing development of our power system,” said Becky Holeman, CFO of Rams Hill.CleanSpark to Accelerate Deployments by Acquiring Pioneer Custom Electrical Products Business “The system installed by the microgrid team has performed beyond our expectations. The return is expected to drop further in the coming six months as the intelligence platform is already delivering cost savings information. The installation at the Rams Hill took five months to complete and is expected to save approximately $300,000 per year with an eight-year return on investment from the project. It features a highly advanced monitoring intelligence platform which has been upgraded to consolidate property loads for a private behind-the-meter 12 kV infrastructure and to enable plug and play capabilities, such as energy storage integration and additional microgrid functionality. The 832 kW solar system with distributed controls is located at the Ram’s Hill Golf Course in Borrego Springs. ![]() We look forward to communicating future projects and developments in the near term.” We believe the ROI is extremely compelling for our customers not only as a result of solar energy generation, but also due to our superior intelligence platform that will deliver significant value on its own. Sungevity and Webcor are phenomenal partners. Matthew Schultz, CEO of Stratean said, “We are excited about completing the first phase of this project. Salt Lake City- CleanSpark, a subsidiary of Stratean, announced it has completed Phase I of its first commercial microgrid in partnership with San Francisco-based builder Webcor and solar service provider Sungevity. By Anca Gagiuc, Associate Editor CleanSpark Microgrid ![]()
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