This investment follows previous funding from SLC at Soluna’s flagship project site
ALBANY, N.Y.–(BUSINESS WIRE)–$SLNH #SLNH–Soluna Holdings, Inc. (“Soluna” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, today announced it has closed its latest round of financing from Spring Lane Capital (“SLC”) for a 35 megawatt (MW) expansion of Project Kati in Texas with Project Kati 1.
With these funds, Soluna will commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026.
“Spring Lane Capital has walked alongside Soluna on our path to growth since the beginning with an investment in Project Dorothy,” said John Belizaire, CEO of Soluna. “We expect these funds to fuel the construction of the first 35MW of the 83MW phase of Kati 1, which expands Soluna’s Texas fleet for Bitcoin Hosting.”
Key details
“We continue to invest in and be strategic supporters of Soluna because they continue to take steps toward sustainable high-performance computing and meeting green data center demand,” said Rob Day at Spring Lane Capital. “We’re looking forward to construction getting underway at Project Kati so that Soluna can continue expanding its green computing power.”
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. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna’s plans and objectives, including with respect to use of proceeds from the SLC financing, the development of Project Kati and our expectations with respect to the amount of renewable energy capacity Project Kati will deliver. Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), 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 SEC. 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. (Nasdaq: SLNH)
Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:
Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.
About Spring Lane Capital
Spring Lane Capital is a private equity firm based in Boston, MA and Montreal, QC focused on providing hybrid project capital for sustainability solutions in the energy, food, water, waste, and transportation industries. The firm’s structured financial model seeks to tap into some of the fastest-growing segments of these markets that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models – the so-called ‘Missing Middle’. SLC’s pioneering “Developer U” is a first of its kind effort to build the ecosystem of developers of sustainable infrastructure projects. For more information, please visit http://www.springlanecapital.com.
