12/25/2023 0 Comments Stratean cleansparkCleanSpark and its wholly owned subsidiaries generated over USD 14m in revenue since inception in late 2013, and currently have more than USD 2.6m in executed long-term agreements including exercisable options and potential contract extensions, along with a growing pipeline of opportunities.By Anca Gagiuc, Associate Editor CleanSpark Microgrid In the event of an outage or other energy surety threat, the software demonstrated its ability to autonomously separate the microgrids from the utility and operate them independently in "island" mode. The system can provide a 100% renewable and sustainable solution to energy security. CleanSpark's distributed controls combine the generation and storage technologies to create four separate microgrids that self-align together to create a larger microgrid that ties directly into the larger utility grid at the 12kV level, allowing the base to consume energy from the most reliable, affordable source at any given time. In 2013, CleanSpark was subcontracted to provide design, development, integration and installation services for the FractalGrid at Camp Pendleton. CleanSpark offers advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. The acquisition has been approved by the board of directors of Stratean, Inc. Assuming CleanSpark's owners exercise the warrants and the vesting of the shares at the conclusion of the lock-up period, the Group may hold up to 39.1% of the issued and outstanding Stratean shares. At closing, CleanSpark holders will own approximately 22.3% of the issued and outstanding Stratean shares (after giving effect to the acquisition). The shares are subject to a one-year lock-up period designated by the agreement. As consideration, CleanSpark's existing unit holders "CleanSpark" are entitled to 6m Stratean common shares and 4.5m warrants at a strike price of USD 1.50 with a five-year expiration. Stratean's gasifier is capable of providing a baseload energy source to augment CleanSpark's energy management software and control platform technology, sold under the mPulse brand, enabling customers to gain further independence from the energy grid. CleanSpark has existing, executed contracts with a military base, a golf course, and other campuses to deploy and maintain solar microgrids, utilising its software to manage energy consumption and production. The acquisition transfers ownership of CleanSpark's operational subsidiaries, patent-pending fractal grid software technology, contracts, patents, other software and related assets to Stratean. Stratean said that the acquisition provides it with a revenue-generating platform and significantly expands the capabilities of Stratean in the rapidly growing renewable energy sector. (OTC: SRTN) has acquired distributed energy resource management systems specialist CleanSpark in an all-equity transaction valued at approximately USD 36m, the company said CleanSpark is a provider of engineering, software and controls for innovative distributed energy resource management systems. 12 July 2016 - US-based downdraft gasifier developer Stratean, Inc.
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