Latest news with #SLC
Business Wire
a day ago
- Business
- Business Wire
Soluna Closes $20M Funding from Spring Lane Capital to Begin Construction on Project Kati 1
ALBANY, N.Y.--(BUSINESS WIRE)--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 Financial Structure and Equity Ownership: Soluna expects that the $20 million will fully cover the project's funding needs, including working capital. Kati 1 continues the superior waterfall structure and enhanced management and development fees, allowing Soluna to benefit from substantial current income during the construction and operational phases. Construction Timeline: The parties intend to commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026. Capacity and Technology: The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs. SLC's Expanded Financial Support: SLC and Soluna previously signed an agreement to extend up to $100M of additional project-level capital for Soluna's growing data center pipeline for Bitcoin and AI, subject to certain conditions precedent. Fund 2 Investment: SLC deployed its capital from its second private equity fund, Spring Lane Capital Fund II, which is twice the size of its initial fund. The fund is lined up to provide up to $4 million in Development Expenditure (DevEx) financing for Soluna's long-lead equipment purchases. Project Approvals: Kati 1 already has all the necessary ERCOT planning approvals. An ERCOT model update will be submitted at least 90 days before energization. '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.' For more information, visit Soluna's glossary of terms can be found here. Safe Harbor Statement 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 and follow us on: LinkedIn: X (formerly Twitter): YouTube: Newsletter: Resource Center: 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
Glasgow Times
2 days ago
- Business
- Glasgow Times
New nursery could be built on vacant land in Cambuslang
A planning application to construct a child daycare facility and associated parking on land near St Cadoc's Church has been submitted to South Lanarkshire Council (SLC). According to documents, applicant Hollytree Nursery states that this development would allow it to expand its services and 'address the increasing demand for childcare provision in the area'. If given the green light, the new nursery at Langcroft Drive would provide an additional 67 childcare places for children aged zero to five years. READ NEXT: Major supermarket to open new store creating 30 jobs Thirty-two of the places will be SLC-funded and would operate on a different drop-off and pick-up time from the under-threes in the nursery. The design statement notes that the facility would be set across a single storey and would be of a modern design. The development would also feature seven dedicated staff parking spaces as well as four drop-off car parking spaces for parents. Hollytree Nursery further comments that if planning permission is granted, the nursery will create around 15 new jobs for childcare professionals and support staff. A date has not yet been set for a decision to be made. For further information, visit SLC's planning portal HERE.
News18
5 days ago
- Sport
- News18
Sri Lanka Cricket Hopes To Host Virat Kohli, Rohit Sharma's India In August
Last Updated: Virat Kohli and Rohit Sharma to make a comeback in August? Sri Lanka Cricket is exploring hosting India for a white-ball series! Sri Lanka Cricket (SLC) is considering hosting India for a white-ball series in early August, leveraging a rare gap in both nations' schedules. Final discussions are expected to occur this week during the ICC meetings in Singapore. This development follows an agreement between the Bangladesh Cricket Board (BCB) and the Board of Control for Cricket in India (BCCI) to postpone the white-ball series, consisting of three ODIs and three T20Is, from August 2025 to September 2026 due to security concerns arising from unrest in a neighbouring country. The tour of Bangladesh was initially set to begin on August 17, following India's five-Test series against England, which concludes on August 4. 'We've received positive feedback. Further discussions will happen in Singapore during the ICC meeting. We expect a final decision within two or three days," a senior SLC official told If approved, the series will likely be held in Colombo and Kandy. Although the initial proposal included three ODIs and three T20Is, the focus is expected to shift towards T20s in preparation for the ICC T20 World Cup in February-March, co-hosted by India and Sri Lanka. The opportunity arose after the Lanka Premier League (LPL), initially scheduled for August, was postponed. Simultaneously, India and Bangladesh agreed to defer a six-match limited-overs series planned for the same period, creating a window that SLC is eager to fill. Sri Lanka recently faced a disappointing 2-1 T20 series defeat to Bangladesh, their first-ever loss to the Tigers in this format. This defeat has led captain Charith Asalanka to urge the board for more high-quality cricket ahead of the World Cup. 'There are still a few spots up for grabs, and playing competitive cricket is essential. We can't afford to enter the World Cup undercooked," said Asalanka. Indian fans were also left disappointed after seeing the Bangladesh tour getting postponed because it delayed the international comeback of Rohit Sharma and Virat Kohli, who are currently only active in ODIs. If SLC can arrange some ODIs, it'll bring their return forward from October (when India plays Australia) to August. (With IANS Inputs) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mid East Info
5 days ago
- Politics
- Mid East Info
Statement by H.E. Ahmad Saeed bin Meshar Al Muhairi SLC Secretary General on 'Union Pledge Day' - Middle East Business News and Information
Union Pledge Day is a cherished national occasion marking a milestone in the history of the United Arab Emirates. It is a day on which we reflect on the noble values upon which our beloved nation was founded and renew our pledge of allegiance and loyalty to our wise leadership. Our leaders continue to guide the UAE's journey of progress, inspired by the enduring legacy of the late Sheikh Zayed bin Sultan Al Nahyan, the Founding Father, and his brethren, the rulers of the Emirates (may Allah rest their souls), who laid the foundations of a nation built on the rule of law and strong institutions. On this glorious day, we reaffirm the enduring values of unity and national cohesion that have always remained the cornerstone of the UAE's renaissance and progress. This occasion reinvigorates our commitment to further evolve the legislative framework to align with the vision of our wise leadership and our nation's ambitious goals. On Union Pledge Day, the Supreme Legislation Committee in the Emirate of Dubai (SLC) reiterates its commitment to developing an advanced and resilient legislative ecosystem that drives sustainable development across all sectors and solidifies the UAE's position as a global leader.
Web Release
6 days ago
- Politics
- Web Release
Statement by H.E. Ahmad Saeed bin Meshar Al Muhairi SLC Secretary General on 'Union Pledge Day'
Union Pledge Day is a cherished national occasion marking a milestone in the history of the United Arab Emirates. It is a day on which we reflect on the noble values upon which our beloved nation was founded and renew our pledge of allegiance and loyalty to our wise leadership. Our leaders continue to guide the UAE's journey of progress, inspired by the enduring legacy of the late Sheikh Zayed bin Sultan Al Nahyan, the Founding Father, and his brethren, the rulers of the Emirates (may Allah rest their souls), who laid the foundations of a nation built on the rule of law and strong institutions. On this glorious day, we reaffirm the enduring values of unity and national cohesion that have always remained the cornerstone of the UAE's renaissance and progress. This occasion reinvigorates our commitment to further evolve the legislative framework to align with the vision of our wise leadership and our nation's ambitious goals. On Union Pledge Day, the Supreme Legislation Committee in the Emirate of Dubai (SLC) reiterates its commitment to developing an advanced and resilient legislative ecosystem that drives sustainable development across all sectors and solidifies the UAE's position as a global leader.
