Pioneer Electric Custom Electrical Products – CEP being acquired by Cleanspark, is a key event that allows Cleanspark – (symbol: CLSK) to expand its customer base to utilities and T&D globally. The combination will give entree to a sector that will soon be in dire need. Wind and Solar power is growing rapidly; as of 2017 all renewable generation (including Hydro) was at 17%. As of March 2018 it leaped to 21%, showing accelerating growth. Utilities need to tame green energy before it overwhelms an essentially 100-year-old infrastructure. CleanSpark leverages Machine Learning powered/cloud software to anticipate usage and intermittency whether the wind is blowing and the sun is shining-or not, and manages conventional baseload power autonomously as well; CleanSpark will have a unified product that offers more that the sum of its new parts.
CleanSpark has proven smart-grid technology, and has sold Microgrid, DER solutions and services to the US Marine Corp, US Consulate in Lebanon, and Macerich (one of the largest commercial REITs in the country), as well as colleges, factories and consulates worldwide. CleanSpark’s DER and microgrid systems are optimized via its mPulse software and controls package, to collect, archive, and analyze data in real-time.
Cleanspark’s acquisition of Pioneer Electric’s Custom Electrical Products – CEP, gives the pending combination existing relationships in the Utility & Industrial market, The CEP division has previously sold product to major manufactures, utilities and energy companies: BP. Philips66 (PSX), Volaro (VLO), Jacobs Engineering (JEC), Pacific Gas & Electric (PGE), LA Water & Power, Pacificorp, Port Authority NY NJ, Chugatch Electric. Black and Veatch.
CleanSpark with CEP can provide:
A designer and manufacturer of highly engineered custom electrical equipment, including, high and medium voltage switchgear, and automatic transfer switches.
Providing an integrated solution from CLSK’s cloud based software, using Machine Learning to anticipate usage patterns instructing CEP electrical switches via their mPulse DER Energy microcontroller to manage potentially scores of inputs and outputs, including bidirectional charge and discharge of multiple battery arrays.
The combination can provide the intelligence and hardware to select from conventional, Wind/Solar or storage energy for the most cost effective delivery of power autonomously.
Such a compelling integrated solution should appeal to utilities by providing a brand neutral/universal battery/energy storage “on-ramp” combined with autonomous fast acting switches while reducing risk of battery technology lock in.
Being vendor and power source agnostic CleanSpark and CEP can create a heterogeneous solution customized to best serve each utility’s different geographies, resources and capabilities.
CleanSpark is a small cap company (Symbol: CLSK) yet it is competing with huge conglomerates, CleanSpark achieved top 10 in Navigant’s Microgrid controls leaderboard, beating out GE, ABB, Eaton (ETN) and Lockheed Martin (LMT). CLSK is a tech disrupter in this space.
Matt Schultz, CleanSpark’s Chief Executive Officer, states:”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,” Traditional ‘hardware only’ solutions will now have locally controlled, AI honed, cloud-based insights to improve energy-security, cyber-security and economic optimization.”
Matt Shultz is available for a phone interview at your convenience. Please call me at the above number to arrange or if you have any questions regarding the above.