CleanSpark Inc (NASDAQ:CLSK) said it has launched its mVoult residential solution, providing homeowners with a standalone energy management controller.
Designed for home microgrids, mVoult is capable of directing the operations of both existing and new energy assets. It will be offered as a smart controller and mobile app specifically built for residential applications.
mVoult.com was launched as an informational website with the opportunity for homeowners to request updates and get on the waiting list. The company expects to begin taking pre-orders for both the stand-alone controls and the fully integrated solution in April, with installations to follow this summer.
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The company also said it plans to launch a fully integrated mVoult battery energy storage and control solution. The home power solution will enable users to select optional add-ons, including solar integration or back-up generators.
The systems are expected to continue to support CleanSpark’s energy and vendor-agnostic solutions, the company said, and residential microgrids will be capable of integrating into new or existing energy management assets or systems.
CleanSpark's smart controls technology has been used in commercial applications and mission-critical military deployments for a number of years, and the company has already been offering mPulse to large and estate-sized residential microgrids.
Now, the company said it has identified a growing demand from homeowners and, to that end, has created and staffed a direct-to-consumer sales division over the past 30 days.
"With the massive power-outages across the country caused by both scheduled and unexpected utility disruptions over the President's Day weekend, the need for this solution has never been more critical,” CEO Zach Bradford said in a statement. “This is not our first foray into residential energy systems, but the focus on revenue growth in the home microgrid solutions is expected to make significant contributions to the company's revenue mix. mVoult is built upon the same foundation as our patented mPulse controls technology which has been used in critical military and commercial applications."
The company noted a significant increase in demand from homeowners, especially in California, to add solar and storage solutions to provide backup power in case of blackouts or utility outages caused by wildfires and to guard against high electricity usage rates during heat waves. A home microgrid with a smart controller can provide significant flexibility in managing cost savings and resilience for the homeowner, the company said.
"We have received significant interest in home microgrids and we are excited to offer a more affordable solution for both homeowners and small businesses,” Bradford added. "We expect that mVoult will open a host of new opportunities. The Company plans to announce further strategic expansion into the home microgrid sector over the coming weeks."
Additionally, CleanSpark said it expects an expansion of government incentive programs to come under the new administration of President Joe Biden. That, along with energy assets decreasing in costs, means a home microgrid has become an even more viable option for homeowners to consider, the company added.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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