Soluna Computing engages Truist Securities as pipeline growth accelerates
ALBANY, NY, July 5, 2022 (GLOBE NEWSWIRE) — via NewMediaWire —Soluna Computing, Inc. (“SCI” or the “Company”), a subsidiary of Soluna Holdings, Inc. (SLNH), (NASDAQ: SLNH), and developer of green data centers for crypto mining -currency and other compute-intensive businesses, has engaged Truist Securities to help manage the company’s growing portfolio of data center project opportunities.
Soluna builds and operates co-located data centers at renewable energy sites powered by wasted (reduced) renewable energy. Grid inefficiencies and lost revenue due to undervalued or reduced energy represent a major challenge for renewable energy generation worldwide. Up to 30% of electricity from some renewable projects can be curtailed, and ameliorating negative economic outcomes is key to advancing the energy transition to renewable sources. The company’s flexible and batchable computing data centers offer a modular and scalable solution that can be deployed and online in months.
“We have a long history of developing, financing and operating data centers at renewable energy sites. We have a strong pipeline with the ability to build data centers much faster than other development strategies. reduction, such as batteries and transmission.As we look to the next round of projects, we have engaged Truist Securities to help us evaluate options, analyze project finances and determine how to find the right capital to 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 and scalable data centers for compute-intensive and batchable applications such as cryptocurrency mining, AI and machine learning. Soluna offers 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 from renewable energy projects can be wasted. Soluna’s data centers allow owners of clean electricity assets to “sell”. All. Megawatt.’
Caution 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 the following statements regarding the Company’s business and strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements due to a variety of factors, including, but not limited to, the Company’s ability to establish and maintain the proprietary nature of its technology through the through the patent process, as well as its ability to license patents and patent applications necessary for product development to others; the availability of funding, including proposed funding; the Company’s ability to implement its long-term business plan for various applications of its technology; the Company’s ability to enter into agreements with all necessary partners; the impact of competition; obtaining and maintaining all necessary regulatory approvals applicable to applications of the Company’s technology; and growth management and other risks and uncertainties which 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.
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