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Solar Watt has been concentrated on serving the fire-prone communities throughout California by using the Self Generation Incentive Program, which gives homeowners who have medical requirements and reside in vulnerable zones with the opportunity to add energy storage to their homes at little or no cost.
FREMONT, CA: CleanSpark, a diversified software and services company, has declared that it has completed the strategic acquisition of Solar Watt Solutions, a Commercial and Residential Solar and Energy Storage Developer. Depending on the achievement of certain performance objectives, total consideration for the transaction will be up to 477,703 shares of the company's common stock and up to $3,850,000 in cash.
Solar Watt is a Carlsbad, California-based company established in 2009 by David Watt. Solar Watt delivers solar and alternative energy solutions for homeowners and commercial businesses throughout Southern California. The acquisition is anticipated to immediately expand and boost CleanSpark's residential initiative by integrating experienced energy storage and solar sales and installation team.
Solar Watt has been concentrated on serving the fire-prone communities throughout California by using the Self Generation Incentive Program, which gives homeowners who have medical requirements and reside in vulnerable zones the opportunity to add energy storage to their homes at little or no cost. The company's mVoult product line for residential microgrids will give opportunities for both companies to expand quickly throughout the state of California and beyond.
David Watt, Founder of Solar Watt, stated, "We are extremely excited to join the great team at CleanSpark. With their products and resources behind Solar Watt, we will be able to expedite growth in the California area. We anticipate scaling up and, being able to offer new product lines while continuing to provide the excellent service our customers have come to expect, which is the foundation for our success."
