Recent Outside Investments in Existing Projects Imply SLNH's Valuation Well Above Current Levels
Current market valuation only gives credit for existing projects, making the project pipeline a free option. Earlier this year, Spring Lane Capital and Navitas Global bought their project stakes at an implied valuation of $566K and $941K per MW of capacity. Using the average price paid gives a $31.3 million value for Soluna’s 100% share of Project Sophie and a 15% and 51% share of Project Dorothy 1A and 1B, about equal to the current $31.9 million enterprise value (Source: YCharts). Using the higher $941K/MW suggests the value of just these three projects is ~$47 million. We note that the $566K/MW valuation of the Spring Lane Capital investment was made before the project had received interconnection approval from ERCOT. Please see further details in Figure 1 of this report. We see significant value in Soluna’s project pipeline, most notably the 50 MW at Project Dorothy 2, which already has interconnection approval. The company recently stated it has well over 300 MW of projects that could be developed today with financing partners...
Water Tower Research is built on the foundation of democratizing information flow. We bridge the growing information gap between companies and investors through our investor engagement strategies and open-access research platform.
Our research analysts are Wall Street veterans with the experience and knowledge to work with companies and investors in tandem. We provide access to the information and content that anchors the due diligence process for both professional money managers and individual investors. We leverage traditional research distribution channels and the best of modern digital strategies and tactics to amplify this information flow globally to engage all categories of investors and stakeholders.
Information flow is the foundation for creating investor awareness, knowledge, and engagement. Our mission is to help companies and investors have the tools they need and achieve their goals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.