CleanSpark Inc (NASDAQ:CLSK), a Nevada-based energy technology and clean Bitcoin mining firm, has released its smart residential microgrid solution, mVoult to customers in California.
Designed for homes and small businesses, mVoult is built off of the same platform as CleanSpark's existing, patented mPulse product, which the firm says is “tough enough for the military and is also flexible enough to be used in commercial, industrial, and estate home applications.”
Users of mVoult can also use the accompanying mobile app available for download in both the Apple and Google Play app stores.
READ: CleanSpark posts results showing very strong revenue growth and a big boost to working capital
CleanSpark described its innovative mVoult technology as a single scalable solution for resilient, reliable, and cost-effective energy for residential properties of all sizes. mVoult enables a system to use power generated from multiple sources, including the main utility, solar, or battery.
The microgrid system also supports energy storage for use during utility disruptions or to offset energy costs during peak periods.
"We've anticipated using our microgrid technologies to create a cost-effective product offering which can add significant value to the residential energy sector by giving homeowners the choice of power so that they can determine the best application for their individual needs," Zach Bradford, CEO at CleanSpark said in the statement.
"The pandemic made it more apparent how important self-reliance can be, by giving our customers the opportunity to generate, use and store energy with a focus on renewable resources. CleanSpark is committed to supporting that process."
The companion mobile app allows users to monitor system performance in real time as well as gauge energy cost savings over time.
With the initial roll out happening in California, the company plans for national expansion down the road.
“The company is focusing on California for its first phase of installations as much of the state continues to face disastrous wildfires and power outages. mVoult provides resiliency and cost savings whether the traditional grid is up or down,” read the statement.
CleanSpark also addressed the ongoing supply chain challenges in the battery sector, confirming it has “a significant supply of batteries either in transit, or in the Carlsbad warehouse.”
"We are seeing positive improvements to the overall global supply chains and have been rapidly deploying batteries," said Amer Tadayon, chief revenue officer and energy division president. "We expect continued normalization, adding momentum to our residential energy initiative."
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