CleanSpark, Inc. and International Land Alliance Announce Microgrid Development Agreement
SALT LAKE CITY, Aug. 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("the Company") a diversified software and services company and, International Land Alliance (OTCQB:ILAL), ("ILAL" or "International") an international land investment and development firm based in San Diego, California, are pleased to announce project deployments to be executed as part their exclusive agreement. According to the latest agreement, CleanSpark will provide sustainable power solutions to ILAL's portfolio of properties. Under this phase International has agreed that CleanSpark will provide microgrid power solutions to more than 400 unique residential resort properties.
The phase is expected to be executed as follows; CleanSpark will provide microgrid solutions which will deliver power to 252 fully 'off-grid' cabins in the exclusive Valle Divino development in Ensenada, Baja, Mexico. CleanSpark will also provide sustainable power solutions to 152 luxury villas within the Plaza Bajamar project in conjunction with local grid power. It is anticipated that these projects will be deployed over the next 36 months as the residences are constructed.
In addition, CleanSpark will also provide microgrid power to all commercial facilities within both developments, including professional, retail and restaurant locations. The plans for these commercial locations are still under development and the companies will release additional information as construction timelines are released.
CleanSpark will continue to provide all energy project analysis, modeling, sizing, energy storage procurement and consulting for ILAL through each phase of development. Upon deployment, the microgrid installations will operate under a long-term software license agreement for CleanSpark's patented mPulse controls platform.
The first energy systems deployed within the unique development will be located on two residential villas currently in the final stages of construction. Commissioning of these initial energy projects is expected to occur on or before September 30, 2020.
"This phase is a significant milestone under our exclusive agreement with ILAL. International has master-planned a beautiful project in Ensenada, Baja Mexico, located just 45 minutes south of San Diego, California. Our microgrid solution will provide Valle Divino with the otherwise unavailable energy infrastructure it needs in a cost-effective manner. This project will help ILAL achieve their stated goal of providing affordable environmentally friendly housing. These residential projects collectively represent significant revenue development for CleanSpark." stated Zachary Bradford, the Company's President and CEO.
Jason Sunstein, CFO of International Land Alliance said; "Developing luxury communities that are both affordable and sustainable is core to our business. With the lack of a predictable electric grid connection, these homes would potentially be years away from a reality, but with the CleanSpark partnership, our residents can begin to call Ensenada 'home' in the very near future. Not only will we realize a significant acceleration in our development schedule, but the resilient energy and cost-savings will provide even greater security and value to our homeowners. Sales and buyer interest has increased as border restrictions have been lifted increasing access to our secure, safe and desirable locations."
Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.
Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/ where recent presentations and case studies are available to view.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. ILAL is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The ILAL serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
About CleanSpark:
CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.
Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, our reliance on International Land Alliance to complete its development of the two sites, the successful deployment of the projects with International Land Alliance and its integration with the residential and commercial facilities at the development sites, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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SOURCE CleanSpark, Inc.
