Soluna says it has fully repaid its Generate Capital credit facility

Soluna Holdings, Inc. said on October 26, 2026 that it has repaid in full the $28.7 million in principal outstanding as of June 30, 2026, under its credit facility with Generate Capital, PBC.

Soluna repaid $19.1 million of the debt in August 2026 and paid off the remainder in October 2026. The company said the facility is terminated and that the release of Generate's liens on the related project assets allows for the transition of power to the Dorothy 3 AI campus.

Soluna entered the Generate credit facility in September 2025 to refinance Dorothy 1A and Dorothy 2 and to fund the completion of Dorothy 2. Generate financing also helped fund the company's April 2026 acquisition of the 150 MW Briscoe Wind Farm, which provides renewable generation powering Project Dorothy.

The company said its total debt principal falls from $37.9 million at June 30, 2026 to $9.2 million, a figure that reflects its remaining debt balances as of that date.

CFO Michael Picchi said that repaying the facility in full retires that portion of the company's debt, releases the liens on those project assets and simplifies its capital structure as it continues developing its AI and high-performance computing pipeline.