- Soluna ( NASDAQ: SLNH ) announced the initial funding of up to $12.5M from funds managed by Spring Lane Capital, a private equity firm focused on hybrid project capital for sustainability solutions in the energy, food, water, waste and transportation industries.
- The funding is the first of the up to $35M in project financing committed by funds managed by Spring Lane Capital, originally announced on May 12, 2022.
- Proceeds will fund the development of the initial 50 MW phase of its development project in Texas, known as the Dorothy project, a 100 MW data center being built in phases.
- "This initial funding from Spring Lane Capital enables us to begin the next phase of Soluna's development pipeline," CEO Michael Toporek commented.
For further details see:
Soluna receives $12.5M funding from Spring Lane Capital