Spring Lane Capital Congratulates Soluna on Acquiring Full Ownership of Project Dorothy 1A
By Rob Day
Acquisition Represents Meaningful Exit for Spring Lane Capital’s Fund I, and the Natural Next Step for Matching Renewables to the Power Demands of Data Centers
Boston, MA and Montreal, Quebec — April 29, 2026 —Spring Lane Capital, an investment firm focused on the energy transition and sustainable infrastructure solutions, congratulates Soluna Holdings, Inc. (“Soluna”) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications including Bitcoin mining and AI, on acquiring full ownership of Project Dorothy 1A (D1A). The acquisition of Spring Lane Capital’s equity interest in Project Dorothy 1A gives Soluna complete equity ownership of D1A, located in Silverton, Texas, and marks the second major step of Soluna’s vertical integration of the Dorothy campus, following the $53 million acquisition of the Briscoe Wind Farm earlier this month. The combined entities both provide and create flexible demand for 150 WM of renewable power.
Spring Lane Capital has been a strategic partner to Soluna since May 2022, when the company first announced a $35M project equity commitment. This included an initial project-level investment for the development of Project Dorothy, a wind powered, sustainable data center campus. Since then, Spring Lane Capital has increased its stake in Soluna’s breakthrough data center solutions, also providing funding for other projects such as Project Kati and Project Dorothy 2.
“We are proud to have been an early supporter and ongoing strategic partner to Soluna, and it’s exciting to work alongside their phenomenal team as they have made such significant progress,” said Rob Day, Partner and Co-founder of Spring Lane Capital. “Soluna’s business model is designed to successfully create true additionality by serving as an alternative, flexible consumer for renewable energy, providing responsive power demand that allows for a more stable, efficient grid. At a time when the power demands of data center growth are front page concerns, Soluna’s model inherently solves many of these challenges, while also directly promoting the use of more renewables generation on the grid. This acquisition is a meaningful and validating event for Spring Lane’s first fund and for our firm’s overall investment thesis focused on helping early solutions get to the mainstream market.”
Spring Lane Capital initially invested in Soluna to support its “green data center” model, which converts otherwise wasted (“spilled”) renewable energy into power for computing-intensive applications like crypto mining and AI. The continued support aims to solve both renewable energy grid congestion and the high energy demand of data centers through sustainable, modular infrastructure.
The recently announced acquisition represents a natural conclusion to Soluna’s partnership with Spring Lane Capital on the D1A project. Spring Lane’s Fund I receives cash liquidity for its ownership interest, while Soluna gains the full equity control necessary to change the business plan of its Dorothy projects to support AI workloads and accelerate the development of Dorothy 3.
About Spring Lane Capital:
Spring Lane Capital is an investment firm based in Boston, MA and Montreal, QC, deploying tailored project finance and corporate equity across the “missing-middle” in sustainable real assets. We invest in sectors where decentralized, low-carbon assets are scaling fast including energy, transportation, waste to value, food and agriculture. We are a team of builders and operators—not just investors—bringing the technical expertise and hands-on partnership needed to scale the sustainable infrastructure of tomorrow and deliver long-term value. For more information, please visit us at www.springlanecapital.com.
Media Contact:
Cindy Stoller
Confluence Partners
917-331-0418