Financialnewsmedia.com News Commentary

PALM BEACH, Florida, Jan. 21, 2020 /PRNewswire/ -- When a 6.4-magnitude earthquake struck Puerto Rico in early January 2020, and a 5.9-magnitude earthquake days later, Puerto Rico was left without electricity. However, microgrids installed at 10 schools continued to run. While "the grid is down but the systems are working," Roy Torbert, principal at RMI Islands Energy Program, as quoted by Environmental Leader. "I think what you can learn from the microgrids and the way they've performed is that so much of community resilience is happening from the bottom up." Microgrids could have even helped California after PG&E deliberately shut off power, as the company battled high winds, and wildfire conditions. The best part – in times of crisis and outages such as these, microgrids can operate on their own, and can run indefinitely depending on how their fueled. That's creating sizable multi-billion-dollar opportunity for top companies like CleanSpark, Inc. (OTCQB:CLSK), Honeywell International Inc. (NYSE:HON), Eaton Corporation PLC (NYSE:ETN), General Electric Company (NYSE:GE), and Raytheon Company (NYSE:RTN).

CleanSpark, Inc. (OTCQB:CLSK) BREAKING NEWS: CleanSpark, Inc. announced that it has received $238,000 in new orders for its intelligent automatic transfer switch (ATS) since the first of the year. The Company's Intelligent ATS switchgear is used to automatically transfer power supply from its primary source to a backup source when it senses a failure or outage in the primary source, thus assuring uninterrupted power. It also allows the end user the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. CleanSpark's new orders were composed of a total of four units ordered by two customers with one being a new customer and the other a current customer. The follow on order placed by our current customer is on the back of a previously announced $2.5 million order in May 2019 and $359,000 order announced on December 20, 2019. The Company has already shipped $302,000 of previous equipment orders during the first 20 days of 2020. Based on continued positive demand trends, the Company anticipates receiving additional follow-on orders before the end of January.

"Our Automatic Transfer Switch Solutions are designed to serve critical microgrid deployments and we are seeing indications of notable increase in demand of these solutions in 2020," said Zach Bradford, Cleanspark's CEO. "These deployments provide economic benefits to their owners on an ongoing basis, but also provide our customers and the surrounding communities with secure power sources in times of grid disruption including those resulting from natural disasters. On January 10, 2020 The New York Times reported on the precarious situation in Puerto Rico resulting from the January 7^th earthquakes and said, "The facility that produces the most electricity on the island, the Costa Sur power plant, may not return to service for up to a year". As a result, Puerto Rico is now contending with brownouts and rolling black outs across the grid due to it's a weakened infrastructure. While the conventual grid is failing across the country, microgrids, such as those supporting a Boys and Girls Club and a children's hospital, have become a staging center for the Community due to their reliable power sources being provided by microgrids. These facilities  once again prove that microgrids are a critical future part of energy infrastructure as they provide more sustainable and secure energy solutions relative to large centralized grids." 

Mr. Bradford concluded, "Our microgrid solutions have already successfully proven the ability to provide secure power supplies to Texas communities after hurricanes and we are now in the process of developing solutions for school districts in California communities plagued by fires. As part of growing global demand for distributed energy generation (DEG)we are seeking to expand our network of external sales representative to include Puerto Rica. These large-scale problems affecting millions of people around the globe with the problem being exacerbated by natural and manmade disasters and an aging grid infrastructure worldwide. We believe this inflection point in favor of microgrids is creating a significant market for CleanSpark's energy solutions and will have a positive impact no on our operations but also the effected communities. "

Other related developments from around the markets include:

Honeywell International Inc. (NYSE:HON) announced financial results for the second quarter of 2019 and raised its full-year organic sales, earnings per share, and adjusted free cash flow guidance. "Honeywell delivered another strong quarter of top-line growth, margin expansion, and adjusted free cash flow. Organic sales grew 5% led by our long-cycle businesses including U.S. and international defense, business and general aviation, and oil and gas. Our long-cycle backlog was up over 10%, which positions us well for the second half of 2019. We also saw robust demand in our short-cycle commercial fire, process automation services and software, and aerospace aftermarket businesses. Segment margin expanded 170 basis points year-over-year, which was 30 basis points above the high end of our guidance. We delivered earnings per share of $2.10, which was up 9% adjusted, excluding the impact of the spin-offs, and at the high end of our second-quarter guidance," said Darius Adamczyk, chairman and chief executive officer of Honeywell. "In the quarter, we repurchased approximately $1.9 billion in Honeywell shares and generated $1.5 billion of adjusted free cash flow¹, with conversion of 100%. We remain on a path to deliver approximately 100% conversion for the full year."

Eaton Corporation PLC (NYSE:ETN) will announce fourth quarter 2019 earnings on Tuesday, February 4, 2020, before the opening of the New York Stock Exchange. The company will host a conference call at 11 a.m. Eastern time that day to discuss fourth quarter 2019 earnings results with securities analysts and institutional investors. The conference call will be available through a live webcast that can be accessed via the Eaton Fourth Quarter 2019 Earnings Results link on Eaton's home page, which is www.eaton.com . The call replay and news release will also be available from this web link.

General Electric Company (NYSE:GE) Renewable Energy's Grid Solutions business has been awarded a multi-million dollar project for the design, supply, construction and commissioning of onshore and offshore wind substations for the Neart na Gaoithe (NnG) offshore wind farm, 12 miles off the Fife coast in Scotland. The offshore wind farm project is jointly owned by EDF Renewables and ESB. EDF Renewables is one of the UK's leading renewable energy companies and ESB is an Irish Energy Company operating across the electricity market on the island of Ireland, with an established and growing presence in Great Britain. GE is responsible for the turnkey delivery of all infrastructure within the perimeter, including ground works and civil construction.

Raytheon Company (NYSE:RTN) delivered its 10^th AN/AQS-20C minehunting sonar system to the U.S. Navy. The sonar-towed body was officially transferred to the Naval Surface Warfare Center, Panama City Division. The system – which is the program of record for the Navy's Littoral Combat Ship mine countermeasure mission package – is now fully qualified and will move toward initial operating capability.  he AN/AQS-20C comprises five distinct sonars, including a synthetic aperture sonar that provides the highest possible resolution for acoustic identification. The system detects, classifies, localizes, and identifies mines on the seabed, near-bottom moored mines, volume mines, and near-surface mines. "AQS-20C is capable of enabling true single-pass, minehunting when paired with the Barracuda mine neutralizer," said Wade Knudson, senior director of Raytheon's Undersea Warfare Systems business area. "Delivery of the 10^th towed body brings this critical autonomous technology one step closer to IOC." The AQS-20C system is platform agnostic and can be integrated onto various tow vehicles. It is a key element in single sortie detect-to-engage capability, which combines the search-detect-identify and neutralize elements of an MCM mission on a single platform. The program completed developmental testing in February 2019, and will undergo further integration on the MCM Unmanned Surface Vehicle in early 2020 and ultimately aboard the LCS.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated thirty five hundred dollars for news coverage of current press releases issued by CleanSpark Inc., by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Email: editor@financialnewsmedia.com
+1(561)325-8757

SOURCE Financialnewsmedia.com