Fireside Chat Highlights the Low Carbon Footprint of Its Datacenter and Growth Outlook in 2024
We recently hosted CEO John Belizaire for a fireside chat, which included a discussion of the recent report from REsurety showing the lower carbon footprint of Soluna’s flagship Project Dorothy, progress on Soluna’s datacenters for AI, and the expected growth/potential catalysts in 2024. This report contains a transcript of the fireside chat from January 18, 2024, which can be accessed on demand in our full report. Soluna’s datacenters shown to have a significantly lower carbon footprint per the recent REsurety report. The report concluded that Project Dorothy emits 18% less carbon emissions than a traditional datacenter located in the renewable-rich West Texas region and also up to 40% less carbon than its cryptocurrency mining peers around the country. A validation of Soluna’s model. On the call, Belizaire explained how the REsurety report gives third-party data that proves the company’s thesis that its unique modular data center design utilizing curtailed energy provides a better solution that yields significant carbon emission savings compared with other datacenters. Moreover, we see the low carbon attributes of Soluna’s datacenters as making them a valuable solution to meet the rapidly growing power demand driven by the proliferation of AI. 2024 expected to be a year of growth. Soluna is focused on growing its portfolio of existing projects through deploying Phase 2 of Project Dorothy, including the AI pilot, advancing the 166 MW Project Kati that was announced last summer, and further developing its robust project pipeline of more than 2,000 MW of projects. The company reached positive adjusted EBITDA in 3Q23, and we expect accelerating EBITDA growth in 2024 with a full quarter of Project Dorothy 1, contributions from more profitable contracts at Project Sophie and ancillary services revenue likely beginning in mid-2024. Soluna helps solve the problem of power curtailment and in turn supports the growth of renewable energy. Renewable power plants are increasingly needing to ‘curtail’ their power generation due to oversupply. By purchasing electricity that would have otherwise been unsold, Soluna helps improve project economics for renewable power and further its growth on the grid. Moreover, data centers can easily ramp down their power use to help balance the grid in times of extreme power demand.
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