Soluna Technologies Ltd. is now called Harmattan Energy, Ltd.

NEW YORK, Sept. 8, 2021 /PRNewswire/ -- Soluna Technologies, Ltd., known for the 900 megawatt (MW) wind farm and blockchain computing center under development in Dakhla, Morocco, is now called Harmattan Energy, Ltd. The Chief Executive Officer, John Belizaire renamed the company after Mechanical Technology, Inc. (MTI) acquired Soluna Computing -- a spin-out focused on eliminating wasted renewable energy using sustainable computing -- to become Soluna Holdings on August 12, 2021. The Harmattan Wind project in Morocco was not included in MTI's acquisition of Soluna.

Harmattan Energy, Ltd. will hold the Harmattan Wind project and manage all development activities.

"Harmattan inspired our entire business model for Soluna, and it will be an important proving ground as the first-of-its-kind, vertically integrated wind, and blockchain computing project," said Belizaire. "This project has the potential to be the largest in Africa, taking advantage of an enormous wind resource. Our business model of renewable energy development paired with sustainable computing can unlock economic opportunity across the continent."

Named after the easterly trade winds of West Africa, Harmattan will continue developing the wind farm on over 10,000 hectares including on-site data centers that use renewable energy to power blockchain computing. Harmattan Energy will generate clean energy for high-intensity, batchable computing processes. This business model is solving two growing problems. First, it creates a beneficial use for "curtailed," or wasted renewable energy. Second, it provides a pathway to make energy-intensive computing more sustainable.

Harmattan Energy, Ltd. will continue with previously conceived plans through its subsidiary A.M Wind, SARL to develop a Center of Excellence, create jobs, and partner with local stakeholders that include government, local organizations, and utility partners in Morocco.

The company retains its original shareholders, Brookstone Partners. It will be overseen by Matt Lipman, Managing Director at Brookstone. Mr. Belizaire will serve as interim CEO, until a replacement is named. The first phase of development of 100 MW is planned to start construction in 2022.

About Harmattan Energy, Ltd.

Formerly known as Soluna Technologies Ltd., Harmattan Energy, Ltd., was founded in 2018, and then renamed in 2021. Harmattan develops vertically integrated, utility-scale projects that combine its own renewable energy power plants with dispatchable computing facilities focused on cryptocurrency mining and cutting-edge blockchain applications. Soluna's flagship project, Harmattan Wind, is a 900 MW wind site located in Morocco. The record-breaking productivity of the site brings a clean, low-cost, sustainable infrastructure layer to the blockchain.

Led by a world-class team of technologists and renewable energy experts, Harmattan's mission is to better the world by making renewable energy the primary power source using computing as a catalyst.

Harmattan is headquartered in New York City, with offices in Morocco.

CONTACT: Melissa Baldwin, Melissa@Tigercomm.us, 727-743-3778 or Dylan Gasperik, Dgasperik@tigercomm.us, 323-804-2768

Related Links
https://www.solunacomputing.com

SOURCE Soluna Computing, Inc.