CleanSpark Inc (NASDAQ:CLSK) announced Tuesday that it won additional US patent protection for its proprietary energy microgrid distribution system.
The Utah-based company makes software that allows an energy microgrid to be scaled to the user's specific needs and implemented across commercial, industrial, military, and agricultural sectors.
"Today's patent specifically protects our proprietary system and method for distributing energy between microgrids,” said CEO Zachary Bradford in a statement.
READ: CleanSpark sports record quarterly revenue spearheaded by switchgear sales, energy storage
“It particularly addresses the challenge of determining when it is appropriate for one microgrid to share power with another microgrid. In the patented system and method, a microgrid forecasts its own future power needs, the microgrid then uses this forecast to determine if and when to share power with another microgrid," he added.
Bradford said the patent further protects the technology and methods its system uses to make decisions related to power-sharing based on factors such as energy demand, utility rates, time-of-use, and weather forecasting.
“The value of integrating multiple microgrids in concert to create an ecosystem of resources working together to achieve increased resiliency, efficiency for cost-avoidance, revenue generation or reduction in greenhouse gas emissions is significant," he said. "Our system flexibility allows these priorities to be set by the system owner.”
CleanSpark’s stock recently traded up 13.5% to $1.93 a share in New York.
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