In a recent Deloitte report, up to 44% of surveyed businesses said they are considering microgrids. That’s an improvement of nine percentage points year over year, says Microgrid Knowledge. “In ‘Deloitte Resources 2020 Study,’ 54% of those considering microgrids said they have critical operations that require uninterrupted power supply, said Marlene Motyka, principal, Deloitte Transactions and Business Analytics. Fifty-one percent said they have experienced increases in the number of outages.” One of the leading reasons why more companies and people are demanding microgrids is its resiliency. Up to 52% of businesses said they are concerned about disruption to their power supply with cybersecurity concerns. Up to 37% of consumers agreed with that concern. With microgrid demand only increasing, some of the top companies to watch on such news include CleanSpark, Inc. (NASDAQ:CLSK), Plug Power Inc. (NASDAQ:PLUG), Ballard Power Systems Inc. (NASDAQ:BLDP), Blink Charging Co. (NASDAQ:BLNK), and Eaton Corporation (NYSE:ETN).
CleanSpark, Inc. (NASDAQ:CLSK) BREAKING NEWS: CleanSpark, Inc. a diversified software and services company and Sunshine Energy Corp., (Sunshine) are pleased to announce the consummation of an exclusive partnership. The agreement allows Sunshine the exclusive right to market and sell CleanSpark’s products and services throughout the country of Costa Rica. As part of the agreement, Sunshine will license mVSO (microgrid Value Stream Optimizer) energy modeling software for exclusive use in Costa Rica. Additionally, Sunshine agrees to procure all energy controls and energy storage systems directly through the Company. CleanSpark agrees to provide designated sales and consulting support to Sunshine, as well as favorable pricing for technical support services on all relevant projects.
Sunshine Energy is one of the largest energy developers in the Country and is a subsidiary of Losko Costa Rica. Sunshine’s goal is to provide new energy innovation through technology, as a result they are actively pursuing new microgrid development throughout the region. Norfund, the Norwegian Fund for Developing Countries and Sunshine have a strategic alliance that will facilitate the financing of energy projects. Costa Rica has one of the cleanest electric matrixes in the world. In 2018, the country managed to produce 98.6% of its energy from renewable sources.
Eduardo Kopper, CEO of Sunshine Energy said about the partnership, “We are excited to have CleanSpark as a partner to support and enhance Sunshine’s vision for delivering energy solutions to the people of Costa Rica by providing predictable resiliency through microgrids. After completing extensive due diligence on microgrid control providers, we found CleanSpark’s solutions far superior to their competitors. The platform’s flexibility allows us to pursue a best-in-class approach as technology changes or improves over time which will bring the greatest value to our customers.”
Zach Bradford, CEO of CleanSpark added, “To have a company like Sunshine choose us as their exclusive microgrid partner is a significant win for CleanSpark and further validation of our superior platform capability. Because a large number of S&P 500 companies have operations in Costa Rica, we recognize the unique opportunity presented by this exclusive partnership. Our work with Sunshine thus far has shown them to be a leader in the solar and energy markets in Costa Rica. Strong partnerships are paramount to our continued success, especially as part of our international expansion strategy. Supporting Sunshine’s existing $20 million (USD) microgrid sales pipeline will be a priority for our team.”
Other related developments from around the markets include:
Plug Power Inc. (NASDAQ:PLUG) a leading provider of zero emission hydrogen engines and fueling solutions enabling e-mobility, is providing UK-based supermarket Asda with hydrogen fuel cell solutions to power the lift truck fleet within the retail giant’s extensive supply chain network. Asda’s partnership with Plug Power includes a purchase order agreement for Plug Power’s full-service GenKey solution, beginning at the UK facility in Skelmersdale. The turnkey solution includes fuel cells, hydrogen fueling equipment, hydrogen and service. This new customer continues Plug Power’s growth in Europe and represents the first deployment at scale of hydrogen fuel cell technology for material handling within the United Kingdom. The effort reduces Asda’s reliance on traditional lead acid batteries for power in their material handling fleet and is part of a broader initiative designed to make the company’s operations more environmentally-friendly. “Each new opportunity to expand the adoption of hydrogen fuel cells is an important step to building the hydrogen economy,” said Andy Marsh, CEO of Plug Power. “We’re especially excited to be partnering with an organization like Asda, which has such a proud heritage and sterling reputation. Their focus on making their organization more environmentally-friendly makes Asda an ideal partner, and we’re optimistic that this deployment is just the start of a long and fruitful relationship.”
Ballard Power Systems Inc. (NASDAQ:BLDP) announced consolidated financial results for the second quarter ended June 30, 2020. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). “While the COVID-19 pandemic continues to cause some delays in customer orders, it has not had an appreciable impact on Ballard operations to this point and we continue to take important precautions to mitigate its impact on our people and our business,” said Randy MacEwen, President and CEO. “In Q2 Ballard delivered revenue of $25.8 million, gross margin of 21% and ending cash reserves of $170.3 million.”
Blink Charging Co. (NASDAQ:BLNK), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, and SemaConnect, a leading provider of EV solutions to the North American commercial market, announced the signing of an interoperability agreement. The two-year, renewable deal will commence in 2021. Blink and SemaConnect customers will be able to seamlessly roam between charging networks without the need for additional cards or accounts. The agreement will serve to increase range confidence for Blink and SemaConnect members by expanding available charging infrastructure utilizing the interoperability agreement, to more than 15,000 units, located at apartment buildings, workplaces, hospitals, universities, municipalities, and retailers. The interoperability between two leading EV charging providers will create a seamless charging experience for the companies’ members. “This is an important milestone for Blink,” said Brendan Jones, COO of Blink. “We have long advocated for the adoption of equipment and network interoperability to create a nationwide infrastructure of chargers that are more convenient and reliable for customers. We believe this partnership will be beneficial to our members and customers and we look forward to building on this collaboration to further expand our EV charging footprint.”
Eaton Corporation (NYSE:ETN) announced that earnings per share were $0.13 for the second quarter of 2020. Excluding charges of $0.20 per share related to acquisitions and divestitures and $0.37 per share related to a multi-year restructuring program, adjusted earnings per share were $0.70. Sales in the second quarter of 2020 were $3.9 billion, down 30 percent from the second quarter of 2019. Organic sales were down 22 percent. Acquisitions added 2 percent to sales, which was more than offset by 8 percent from the divestitures of the Lighting and Automotive Fluid Conveyance businesses and 2 percent from negative currency translation. Craig Arnold, Eaton chairman and chief executive officer, said, “We were pleased with how our teams dealt with the difficult environment during the quarter. Despite several of our end markets facing dramatic declines, we were able to post better-than-expected financial results and very strong cash flow.”
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