Reducing electricity costs for owners of renewable assets up to 30% of their production potential
NEW YORK, NY, November 29, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology), a developer of green data centers for mining cryptocurrency and others Computing-intensive, announced today, it now offers a personalized estimate service to owners and developers of clean-energy power plants looking to reduce costly reduction issues. Custom Mitigation Assessment is an NDA protected review of proprietary data at the project level to estimate lost and recoverable revenue with the addition of flexible reduced energy drawdown by Modular Data Centers (MDC) by Soluna.
“We started as a wind developer, so we know that reduction can steal up to 30% of an asset owner’s power generation / profit potential,” said John Belizaire, CEO of Soluna Computing. “It was taken for granted. We’re saying it’s an avoidable cost now, and we want to show asset owners that they don’t have to see their margins run out.
The reduction occurs when clean electricity providers, such as solar and wind farms, cannot sell all of their electricity to a congested or supercharged grid or have to sell it at a loss. The reduction costs power plant owners up to $ 2 million per year due to non-compliance with power purchase agreements (PPAs), loss of production tax credits (PTC) and renewable energy certificates (CERs).
Soluna’s Consumption Reduction Assessment is a proprietary and revolutionary service that analyzes a generator’s historical data to determine how much additional income homeowners can see by incorporating flexible on-site energy demand from modular enterprise data centers.
Reduction assessment process
Power partners who wish to receive a personalized assessment can submit data to Soluna for analysis under NDA. Once received, the Soluna team analyzes the data, develops the personalized reduction assessment and a plan to resolve the shortfall. This plan will include a detailed overview of the total production of the project, the reduced energy, seasonality and the financial impact of the reduction.
Soluna’s reduction assessment is developing options to increase revenue, including modular data centers of various sizes ranging from 50MW to 150MW. Data centers are developed behind the meter to add flexible demand that converts reduced energy into additional revenue. Soluna can develop and build a modular data center in six months.
Renewable energy project owners, developers and asset managers can schedule a call to start their personalized reduction assessment here.
“We want to make renewable energy a global superpower, and we will do so by offering our data centers as an immediately available and cost-effective alternative to battery storage for large-scale renewable power plants,” continued John Belizaire.
Having batch computing capabilities such as on-site cryptocurrency mining can increase a renewable energy project’s revenue by up to 20% to 30%. These scalable on-premise data centers consume every excess megawatt that solar panels or wind turbines are unable to sell.
About Soluna Holdings, Inc. (formerly Mechanical Technology)
Soluna Holdings, Inc. (Nasdaq: SLNH) (formerly Mechanical Technology) 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 intensive and batch computing applications such as cryptocurrency mining, AI and machine learning. Soluna offers a cost effective alternative to battery storage or transmission lines. Soluna Holdings was formed when Mechanical Technology, Inc. (MTI) acquired Soluna Computing in 2021. Soluna’s MTI Instruments division manufactures precision tools and test equipment for electronics, aviation, automotive, energy and other industries. Soluna and MTI Instruments use technology and intentional design to solve complex and real challenges. Up to 30% of the power of renewable energy projects can be wasted. Soluna’s data centers allow owners of clean electricity assets to ‘Sell’. All. Megawatt.’
For more information on Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.
This communication 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 communication and involve certain risks and uncertainties. Forward-looking statements include statements herein regarding the successful execution of the Company’s business strategy. The actual results of the Company could differ materially from those anticipated in these forward-looking statements due to various factors. These risks and uncertainties include, among others, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to potentially license other patents and patent applications necessary for development. of products ; the availability of 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 the applications of the Company’s technology; and the management of growth 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.
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