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Soluna Computing Engages Truist Securities as Pipeline Growth Accelerates

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Soluna Computing, a subsidiary of Soluna Holdings (SLNH), has engaged Truist Securities to enhance its data center project pipeline. Focused on green data centers, Soluna aims to utilize wasted renewable energy to tackle grid inefficiencies, with commentary on the potential for curtailment reaching up to 30%. CEO John Belizaire emphasized their rapid deployment capabilities, enabling faster project timelines compared to traditional methods like battery storage. The company asserts its role in optimizing renewable energy usage, contributing to the energy transition.

Positive
  • Engaged Truist Securities to enhance project evaluation and financial analysis.
  • Ability to build data centers quickly, improving deployment timelines.
  • Addresses renewable energy waste, optimizing energy transition.
Negative
  • Dependence on external financing and partnerships for project realization.
  • Risks associated with competition and regulatory clearances.

ALBANY, NY, July 05, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire --Soluna Computing, Inc. (“SCI” or the “Company”), a subsidiary of Soluna Holdings, Inc. (SLNH), (NASDAQ: SLNH), and a developer of green data centers for cryptocurrency mining and other intensive computing, has engaged Truist Securities to assist with the company's growing pipeline of data center project opportunities.

Soluna builds and operates data centers co-located at renewable energy sites powered by wasted (curtailed) renewable energy. Grid inefficiencies and lost revenue from underpriced or curtailed energy represents a major challenge for renewable power generation worldwide. Up to 30% of certain renewable projects’ power can be curtailed, and improving negative economic outcomes is critical to progressing the energy transition to renewable sources. The Company’s flexible, batchable computing data centers offer a modular, scalable solution that can be deployed and online within months. 

"We have a strong history of developing, financing and operating data centers at renewable energy sites. We have a robust pipeline with the ability to build data centers much faster than other curtailment strategies, such as batteries and transmission.  As we look toward the next round of projects, we have engaged Truist Securities to help us evaluate options, analyze project financials and assess how to source the right capital for our business,” said John Belizaire, CEO of Soluna Computing.

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 cryptocurrency 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.’

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the Company’s business and strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including but not limited to, the Company’s ability to establish and maintain the proprietary nature of its technology through the patent process, as well as its ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing, including the proposed financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K.

Contact Information
Sam Sova
VP, Marketing
Soluna Computing
sam@soluna.io
+414 699 3667

Brian M. Prenoveau, CFA
Managing Director
MZ Group – MZ North America
SLNH@mzgroup.us
+561 489 5315


FAQ

What new partnership did Soluna Computing announce on July 5, 2022?

On July 5, 2022, Soluna Computing announced a partnership with Truist Securities to assist with its growing pipeline of data center projects.

What is the focus of Soluna Computing's data centers?

Soluna Computing focuses on building green data centers utilizing wasted renewable energy for cryptocurrency mining and intensive computing.

How much renewable energy can be curtailed according to the press release?

The press release states that up to 30% of certain renewable energy projects’ power can be curtailed.

What advantages do Soluna's data centers offer over traditional methods?

Soluna's data centers offer a modular, scalable solution that can be deployed much faster than traditional methods like batteries and transmission.

What risks are associated with Soluna Computing's forward-looking statements?

Risks include the ability to secure financing, competition, regulatory clearances, and management of growth.

Soluna Holdings, Inc 9.0% Series A Cumulative Perpetual Preferred Stock

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