M&A Deal Summary

Mechanical Technology Acquires Soluna

On August 12, 2021, Mechanical Technology acquired renewable energy company Soluna

Acquisition Highlights
  • This is Mechanical Technology’s 1st transaction in the Renewable Energy sector.
  • This is Mechanical Technology’s 2nd transaction in the United States.
  • This is Mechanical Technology’s 1st transaction in New York.

M&A Deal Summary
Date 2021-08-12
Target Soluna
Sector Renewable Energy
Buyer(s) Mechanical Technology
Deal Type Add-on Acquisition

Target

Soluna

New York, New York, United States
Soluna is an operator of power data centers specializing in performing batchable computing, such as cryptocurrency mining. Soluna’s scalable, on-demand data centers buy every excess megawatt from renewable energy projects, increasing project revenue while eliminating wasted energy. Implementing Soluna data centers is a low-risk, low-friction process due to the company’s four pillars of expertise: Project development, energy markets, project finance, and computing technology. Soluna has molded this unique expertise into a proven project finance structure and revenue-generating solution. Soluna is based in New York City.

Search 201,157 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Mechanical Technology

Albany, New York, United States
Category Company
Sector Test/Measurement Equipment
DESCRIPTION

Mechanical Technology designs, manufactures and sells precision test and measurement sensors, instruments and systems that provide solutions for linear displacement, vibration measurement and system balancing and tensile measurements in markets that require the exacting measurement and control of products and processes for automated manufacturing, assembly and consistent operation of complex machinery.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-05 Giga Watt - Intellectual Property and Certain Other Property & Rights

Washington, United States

Giga Watt, Inc. - Intellectual Property and Certain Other Property & Rights provides pilot cryptocurrency mining operations.

Buy -
Mergr

Product

Company

Legal