Benzinga | Jan 7, 2022 01:03PM EST

Soluna Holdings' MTI Instruments Division Announces Multi Million Dollar U.S. Air Force Contract; Total Value Over Life Of Contract To Be 'Well Over $10M'

Soluna Holdings, Inc. (NASDAQ:SLNH), MTI Instruments division, a manufacturer of precision tools and testing equipment for electronics, aviation, automotive, power and other industries, today announced a multi-year and multi-million-dollar contract with the U.S. Air Force (USAF). The total value over the life of the contract is anticipated to be well over $10 million.



The contract includes a one-year base with four extension years and reflects a reaffirmation of the 24-year relationship prior to this award. The USAF has awarded MTI Instruments this contract for the supply of its turbo fan jet engine vibration analysis and balancing solution, PBS. The PBS system and accessories are utilized as part of many USAF turbo fan jet engine testing and maintenance programs to ensure aircraft flight readiness and engine safety. MTI Instruments has been asked to continue the collaboration with USAF to assure maximum availability and support for military assets.

Moshe Binyamin, President and CEO of MTI Instruments, stated, "We are extremely pleased to announce this multi-year and multi-million-dollar order. This repeat order from the U.S. Air Force is a clear example of the high caliber customers that we have built decades long relationships with due to the high quality, and reliability of our essential products and services. We look forward to our continued partnership with USAF and are proud to support them with their mission of maximum readiness."

About Soluna Holdings, Inc.

Soluna Holdings, Inc. (NASDAQ:SLNH) computing business is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines.

Soluna's MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna's data centers enable clean electricity asset owners to 'Sell. Every. Megawatt.'

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.