Soluna Announces new 166 MW Behind-the-Meter Term Sheet with Renewable Energy Powerhouse

Momentum Continues after the Energization of Project Dorothy

ALBANY, N.Y.--(BUSINESS WIRE)-- Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced the execution of a 166 MW behind-the-meter term sheet with a new leading renewable energy power partner.

The term sheet comes on the heels of Soluna’s successful energization of Project Dorothy, its flagship data center in Texas. The new project, named Kati, will be co-located at an existing renewable energy site, allowing up to 166 MW of Soluna’s modular data center connectivity. The Company and renewable energy partner are currently working through definitive agreements. The regulatory interconnection process has begun.

Soluna offers complimentary curtailment assessments for Independent Power Producers, and has analyzed more than 2 GW of renewable projects in the last six months. In addition to the new Project Kati, Soluna currently has 700 MW of additional pipeline in varying stages in addition to Project Dorothy 2 which is approved for 50 MW of interconnection.

John Belizaire, CEO of Soluna Holdings, said, “Now that Project Dorothy is energized, our customers are able to go on site and see how our highly efficient modular data centers and MaestroOS technology truly make renewable generation assets extract more value. We are excited to begin the development process on Project Kati and will use Project Dorothy as a repeatable blueprint as we develop our pipeline.”

Soluna continues its tradition of naming its data centers after women scientists who help catalyze major innovation. Project Kati is named after Kati Kariko, a Hungarian scientist who was instrumental in the development of mRNA-based protein therapies. Her decades of relentless work have helped form today’s modern mRNA vaccines.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.

About Soluna Holdings, Inc (SLNH)

Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as Bitcoin mining, AI, and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’

View source version on businesswire.com: https://www.businesswire.com/news/home/20230620553494/en/

Sam Sova

Founder and CEO

SOVA

Sam@teamsova.biz

Source: Soluna Holdings, Inc.