HENDERSON, NV / ACCESSWIRE / March 18, 2019 / Anxiety over solar panel tariffs in the United States and policy decisions in China to slow down renewable power development have negatively affected the renewable power industry. However, the long- term outlook is bright. Moreover, with a potential deal between US and China to be announced within 3-4 weeks, it is expected that these anxieties may be put to rest.
After all, the United States sourced nearly 15% of its electricity from solar panels, wind farms and hydroelectric dams last year and this trend is expected to continue north. One power hungry industry that is growing fast and will lean on renewable energy in the coming years is legal cannabis.
With legal cannabis cultivation in the U.S. consuming an estimated 1.1 terawatt-hours of electricity a year, according to the 2018 Cannabis Energy Report, published by Scale Microgrid Solutions along with New Frontier Data and the Resource Innovation Institute, indoor growers are looking to cut spiraling electricity consumption with custom-built microgrids in U.S. states where cannabis cultivation is legal.
While several microgrid companies are working towards a solution, there is one company that already has it. CleanSpark, Inc. (CLSK) has developed a custom power solution and mPulse software for cannabis producers that cuts the monthly electricity bill of indoor grow-houses by up to 82%. Their latest press release stated, "(The company) is currently focusing our marketing efforts on the largest users in the cannabis market, the agricultural (grow) facilities." CEO S. Matthew Schultz also stated, "opportunity in the cannabis market is unprecedented due to the high energy usage of these facilities in both the US and Canada. In many cases our solution is capable of virtually eliminating the demand charges that can account for almost 50% of the utility charges for such a facility. The cannabis market continues to grow at a rapid rate, and as a result the significant and growing energy demands of the industry also continue to increase. We are currently focusing our marketing efforts on the largest users in the cannabis market, the agricultural (grow) facilities. In addition to cost savings, the loss of power can be extremely detrimental to an agricultural (grow) facility's production, and an extended outage can even cause a full loss, especially when the facility is growing a medically-certified crop. Energy resiliency is critical for these operations. We believe our solution will find a strong foothold in the market as many solutions currently available to the market provide either resiliency or energy savings but very few provide both."
Today we are highlighting: CleanSpark, Inc. (CLSK), Cresco Labs Inc. (CRLBF), Green Growth Brands (GGBXF), NextEra Energy, Inc. (NEE), and TerraForm Power, Inc. (TERP).
CleanSpark, Inc. (CLSK) (Market Cap: $165.547M; Share Price: $3.99) just dropped a major update, giving shareholders guidance on several initiatives.
Highlights from CLSK's latest update include:
- Closing a $5 million round of funding
- Engaging a firm to navigate the company's up listing
- Announced the near completion of a $900k contract to install a CLSK microgrid at a U.S. Marine Corps Base
- Continued progress on their $18.3 million deal with NYSE company MAC
- Closing of an acquisition adding $3.6 million in gross sales to CLSK's bottom line during early 2019 alone
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Another cannabis operator worth noticing is Cresco Labs Inc. (CRLBF) (Market Cap: $316.905M; Share Price: $8.7728). It is one of the largest vertically integrated multistate cannabis operators in the United States. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. It recently announced that its founders would be attending the 31st Annual ROTH Conference, taking place March 17-19, 2019 in Orange County, CA this week.
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This past weekend, Green Growth Brands (GGBXF) (Market Cap: $657.987M; Share Price: $3.61) opened two new CBD shops, located in Castleton Square, Indianapolis, Indiana and in Oxmoor Center, Louisville, Kentucky. Green Growth Brands expects to dominate the cannabis and CBD market with a portfolio of emotion-driven brands that people love.
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NextEra Energy, Inc. (NEE) (Market Cap: $91.445B; Share Price: $191.24) subsidiary Florida Power & Light Co. announced on Thursday a plan expected to become the "largest community solar program in the U.S." FPL SolarTogether would ask its business and residential customers to opt into the expansion of its solar power capabilities in exchange for credits that could reduce their monthly bills over time. The plan is subject to approval by the Florida Public Service Commission. The announcement follows the groundbreaking FPL's "30-by-30" plan to install more than 30 million solar panels across Florida by 2030. FPL and its sister company, NextEra Energy Resources, are already the world's largest producer of renewable energy from the wind and sun and, when this "30-by-30" plan is completed, FPL expects to be the largest utility owner and operator of solar energy in America.
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TerraForm Power, Inc. (TERP) (Market Cap: $2.635B; Share Price: $12.60) reported a loss of $15.5 million in its fourth quarter. On a per-share basis, the New York-based company said it had a loss of 7 cents. Losses adjusted to extinguish debt and for costs related to mergers and acquisitions, came to 6 cents per share. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share. The owner of clean power assets posted revenue of $213.1 million in the period, which fell short of Street forecasts.
Signed by
Priyanka Goel, CFA
Legal Disclaimer:
This article was written by Regal Consulting, LLC ("Regal Consulting"). Regal Consulting has agreed to a three-month term consulting agreement with CLSK dated 9/12/18. The agreement calls for $10,000 in cash, and 30,000 restricted 144 shares of CLSK per month. Regal and CLSK have signed an amendment to extend the contract for twelve months starting 10/10/18, and increased the cash component to $20,000 per month. CLSK has paid an additional $12,000 for services provided in November. CLSK has paid an additional $88,000 for services provided in December. CLSK has paid an additional $100,000 for services for January. CLSK has paid an additional $80,000 for services for February. Regal was paid an additional $55,000 for March services and possibly compensated more for March services in the future, at which time Regal will update this disclaimer. All payments were made directly by Clean Spark, Inc. to Regal Consulting, LLC. to provide investor relations services, of which this article is a part of. Regal Consulting also paid one thousand dollars cash to microcapspeculators.com to distribute this article. Regal Consulting may have a position in the securities mentioned in this article at the time of publication, and may increase or decrease its position without notice. This article is based on public information and the opinions of Regal Consulting. CLSK was given an opportunity to edit this article. This article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any results predicted herein. Regal Consulting is not registered with any financial or securities regulatory authority, and does not provide or claim to provide investment advice.
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