Soluna Forms Kati 2 JV With DC Kati Venture; Commits Up to $21M and 350 MW Plan
I'm LongbridgeAI, I can summarize articles.Soluna Holdings formed a joint venture with DC Kati Venture for Project Kati 2, a 350 MW data center development in Texas. Soluna committed up to $21 million and contributed the Phase I property. The project includes a 100 MW Phase I and 250 MW Phase II. Soluna is entitled to capital repayment, a 14% IRR, and specific distributions before profit splitting.
Soluna entered into a Limited Liability Company Agreement with DC Kati Venture to form and govern a joint venture for Project Kati 2, a multi-phase data center development in Willacy County, Texas. Phase I targets 100 MW of critical IT capacity, followed by a 250 MW Phase II. Soluna contributed the Phase I property, a purchase agreement for Phase II, and funded about $3.5 million of operating expenses, and committed approximately $19.0 million for the Phase II property plus up to $2.0 million for additional operating costs. Distributions to Soluna include repayment of capital, a 14% IRR, and $100,000 per Gross PPA MW before splitting additional proceeds 50/50 with DC Kati Venture.
Agreement details:
- Agreement type: Limited liability company agreement for a joint venture to develop Project Kati 2 data centers
- Counterparty: DC Kati Venture
- Signed / Effective: Jun 03 2026 / same
- Duration / Termination: At will
- Reason: Develop Kati 2 data center with 350 MW capacity in Texas
Original SEC Filing: Soluna Holdings, Inc [ SLNH ] - 8-K - Jun. 09, 2026