Soluna has fully repaid its Generate Capital credit facility

On October 26, 2026, Soluna announced that it has repaid in full the $28.7 million in principal outstanding under its credit facility with Generate Capital, PBC, as of June 30, 2026. The facility has been terminated, and Generate's liens on the related project assets have been released, allowing power to transition to the Dorothy 3 AI campus.

Soluna repaid $19.1 million of the Generate debt in August 2026, as disclosed in its most recent quarterly report on Form 10-Q, and paid off the remaining balance in October 2026.

Soluna entered into the Generate credit facility in September 2025 to refinance Dorothy 1A and Dorothy 2, unlock project equity capital and 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 gives Soluna ownership of the renewable generation asset powering Project Dorothy.

CFO Michael Picchi said that repaying the facility in full retires this portion of the company's debt and releases the liens on those project assets, simplifying its capital structure. CEO John Belizaire said Generate's support helped the company unlock equity in its Dorothy projects, complete Dorothy 2 and acquire the Briscoe Wind Farm.