The American Energy Innovation Act Could be a Sizable Catalyst for Microgrids

PALM BEACH, Florida: The U.S. Senate is set to vote this week on an energy package that could increase federal funding for a number of energy technologies, including microgrids.

Known as The American Energy Innovation Act, introduced by Sens. Lisa Murkowski, R-Alaska, and Joe Manchin, D-West Virginia, who referred to it as our best chance to modernize our nation's energy policies in more than 12 years, as quoted by Green Tech Media. Reportedly, the bill contains hundreds of millions of funding for R&D into solar and wind power, energy storage, smart grid, electric vehicles, and other clean energy technology. Part of the bill includes $200 million per year for a series of Department of Energy programs aimed at demonstrating how energy storage, microgrids and distributed energy resources such as EV chargers and behind-the-meter batteries can be integrated into today's power grids. News such as this is creating sizable opportunity for companies such as CleanSpark, Inc. (NASDAQ CLSK), Generac Holdings Inc. (NYSE GNRC), Ballard Power Systems Inc. (NASDAQ BLDP), Duke Energy Corp (NYSE DUK), and Advanced Energy Industries Inc. (NASDAQ AEIS).

CleanSpark, Inc. (NASDAQ CLSK) BREAKING NEWS CleanSpark, Inc., a diversified software and intelligent energy services company today announced the shipment of it intelligent switchgear to support the new US Embassy located in Beirut, Lebanon and that its fiscal year to date revenues through February 29, 2020 exceeded $3.6 Million. CleanSpark's Chief Executive Officer, Zach Bradford stated We have achieved significant progress this quarter on meeting our stated objective to increase our revenue. Our current fiscal year-to-date revenues of $3.6 million represent an increase of 467% over the same fiscal period in 2018. We believe we are on track to meet our projected revenue of $10 million for our 2020 fiscal year and achieve our corporate goal of profitability by the end of this calendar year.

Mr. Bradford continued, These revenues include several significant orders including the shipment of the final components of an intelligent switchgear order, fulfilled by CleanSpark's Critical Power Division, for final delivery to the new US Embassy in Beirut, Lebanon.
(PRN)

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The American Energy Innovation Act Could be a Sizable Catalyst for Microgrids