Soluna Computing Engages Truist Securities as Pipeline Growth Accelerates
July 05 2022 - 4:01PM
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 StatementsThis 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 InformationSam SovaVP,
MarketingSoluna Computingsam@soluna.io+414 699 3667
Brian M. Prenoveau, CFAManaging DirectorMZ Group
– MZ North AmericaSLNH@mzgroup.us+561 489 5315
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