Demand for microgrids has been explosive. With fires, storms, and other emergency situations, businesses and consumers are rushing to obtain a better source of energy. Home microgrid demand in California skyrocketed 1,000% over the last month, according to Microgrid Knowledge. All in response to the wildfires and power shutoffs. “Not only has demand increased; so has the pressure to install home microgrids as quickly as possible, and some companies say they can’t move quickly enough to satisfy customers’ requests.” There’s so much demand around the world at the moment, the industry could reach $47.4 billion over the next five years. Not only could further growth be driven by the energy issues in California, but also the rising demand for “clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable and secure global power supply, and rising global deployment of microgrids for rural electrification,” as noted by Research and Markets. As demand grows, some of the top companies to watch include CleanSpark, Inc. (NASDAQ:CLSK), Enphase Energy Inc. (NASDAQ:ENPH), Walmart Inc. (NYSE:WMT), Tesla Inc. (NASDAQ:TSLA), and Ballard Power Systems Inc. (NASDAQ:BLDP).
CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc., a diversified software and services company today announced that it has been awarded a $370,000 order for its intelligent automatic transfer switch (ATS) switchgear. The Company’s intelligent switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage, thus assuring uninterrupted power. These intelligent units also allow the system owner the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. This order represents a follow-on order for a Houston, TX based energy developer specializing in natural gas turbine powered microgrids. The final deployments of these units are expected to be on multiple Texas locations of the nation’s largest retail chain.
“This intelligent switchgear order further validates CleanSpark’s unique energy solutions and strengthens our strong revenue outlook to begin our new fiscal year. Increasing frequency of power outages due to grid instability, natural disasters and wildfires is expected to result in significant continued interest for both our hardware and software solutions” stated Zachary Bradford, CleanSpark’s Chief Executive Officer.
Other related developments from around the markets include:
Enphase Energy Inc. (NASDAQ:ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced that the Company will host a conference call and webcast on Tuesday, Oct. 27, 2020 at 4:30 p.m. Eastern Time to discuss its third quarter 2020 financial results for the period ended Sept. 30, 2020. The live webcast can be accessed on the Enphase Energy Investor Relations website.
Walmart Inc. (NYSE:WMT) announced that it is adapting to meet the evolving needs of its customers this holiday season. The biggest and most exciting shopping day of the year – Black Friday – will be no exception. That’s why today, Walmart is announcing a revamped Black Friday savings event that will deliver the incredible prices customers expect from the retailer in an entirely new way to help provide a safer and more convenient shopping experience. Walmart will spread out its Black Friday savings this year from one single day to three events to bring customers “Black Friday Deals for Days.” This reinvented Black Friday experience will offer customers the retailer’s best prices of the season on the most sought-after items on 2020 holiday wish lists during three separate savings events across the month of November. Each savings event will begin online at Walmart.com and continue in Walmart stores. And new this year, customers will have the option to pick up their online Black Friday order through Walmart’s contact-free curbside pickup service.
Tesla Inc. (NASDAQ:TSLA) will post its financial results for the third quarter of 2020 after market close on Wednesday, October 21, 2020. At that time, Tesla will issue a brief advisory containing a link to the Q3 2020 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
Ballard Power Systems Inc. (NASDAQ:BLDP) announced that it has completed an at-the-market equity program and entered into on September 1, 2020, raising total gross proceeds of US$250 million. Since the ATM Program was announced, the company has issued a total of 16,450,623 common shares from treasury, including 3,680,690 Common Shares on the Toronto Stock Exchange and 12,769,933 Common Shares on the Nasdaq stock exchange. The Common Shares were sold at prevailing market prices at the time of sale, for total gross proceeds of approximately US$250 million. Total net proceeds from the ATM Program of approximately US$245 million will be used for general corporate purposes.
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