Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 292

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 292
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—a leader in renewable energy and sustainable infrastructure both in the U.S. and internationally.
Project Ellen will be developed in two 50MW phases, leveraging wind energy to drive sustainable computing at scale.

Project
Annie

We
have signed a term sheet for power for Project Annie, a new 75 MW data center co-located with a 114 MW solar farm in Northeast Texas.
The solar farm is owned by a new power partner–a leader in renewable energy and sustainable infrastructure both in the U.S. and
internationally.

Project
Fei

We
have signed a term sheet for power for Project Fei is a 100 MW data center in development co-located with a 240 MW utility-scale solar
farm, Soluna’s second solar-based project to date. Developed in partnership with a global leader in energy infrastructure investment,
Project Fei will convert underutilized solar energy into clean, high-performance computing power. The project is currently advancing
through land acquisition, power contract negotiation, and ERCOT interconnection planning.

Project
Gladys

We
have signed a term sheet for power for Project Gladys is a 150 MW facility in development, which will be co-located with a 226 MW wind
farm and developed in partnership with a prominent U.S.-based independent power producer (“IPP”) managing over $40 billion
in assets and more than 80 energy facilities nationwide. The project is currently advancing through land acquisition, power contract
negotiation, and ERCOT interconnection planning.

Our
Growth Strategy

Our
growth strategy is focused on expanding our pipeline of renewable energy-powered data center projects and accelerating their development
through joint ventures, co-ownership structures, and other strategic partnerships. Over time, we intend to increase our ownership stake
in these projects to enhance long-term value.

We
believe our renewable energy project pipeline—currently estimated at over 2.8 gigawatts (GW)—represents our most valuable
strategic asset. We believe this pipeline has the potential to support the development of approximately 300 to 400 MW of new digital
infrastructure annually over the next six to eight years.

In
parallel with new project development, we are refining our operational model across existing sites to position ourselves as a partner
of choice for both AI/HPC colocation and Bitcoin Hosting.

We
continue to grow our pipeline by increasing the number of curtailment assessments completed with power generation partners. These assessments
serve as a precursor to securing exclusive Power Purchase Agreements