Soluna Computing Engages Truist Securities as Pipeline Growth Accelerates
July 05, 2022 16:01 ET | Source: Soluna Holdings, Inc.
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.
