- CleanSpark Technologies (CLSK +6.5%) completed a strategic acquisition of GridFabric; principals of the latter - Mr. Ben Dupont and Mr. Matt Hale will join CleanSpark team.
- GridFabric creates software solutions that help power utilities and IoT products that manage energy loads.
- Utilizing GridFabric's communications protocols as an integral part of CleanSpark's Demand Response offerings integrated into mPulse, the two companies will be launching a solution for the Standard for Smart Energy Profile Application known as IEEE 2030.5.
- "We anticipate that the acquisition alone will add close to $1M in revenue over the span of the coming year, and significantly more in the following years as we provide resources to the GridFabric team to grow. Perhaps more importantly, this acquisition brings existing, recurring revenue and positive cash-flows immediately," CFO Lori Love commented.