AKRON, Ohio, July 12, 2021 /PRNewswire/ -- Energy Harbor Corp. announced today that it has entered into a five year partnership with Standard Power to provide clean, reliable, carbon-free electricity from its nuclear fleet to Standard Power's new Bitcoin blockchain mining center in Coshocton, Ohio beginning in December 2021. Standard Power is a leading infrastructure service provider for advanced data processing companies and a leading hosting provider for blockchain mining companies. This groundbreaking climate-friendly agreement helps enable Standard Power to revitalize an abandoned Ohio paper mill into a state-of-the-art facility that brings new jobs to the region. It also enables the company to achieve its sustainability objectives by powering the Bitcoin blockchain mining center with Energy Harbor's clean, sustainable, locally generated nuclear electricity. Standard Power will also be providing valuable reliability and stability to the transmission grid by completely shutting down operations when the electric grid and other Ohio customers need the power the most.
Energy Harbor President and Chief Executive Officer, John Judge said, "We are grateful that Standard Power has granted us the opportunity to serve them. We are happy to partner with customers who are focused on minimizing their impact on the environment while driving a new clean energy future in our local Ohio economy. This is another example of the value we provide to our customers and communities as we continue our growth strategy across all sales channels within our retail business."
"Bitcoin blockchain mining centers are energy intensive, and we recognize our responsibility to build a more environmentally sustainable future. We selected Ohio because of its low electricity costs with availability of carbon-free sources of energy. By partnering with Energy Harbor, we have proactively structured our hosting capabilities to ensure that 100% of the power associated with this facility is carbon-free," said Maxim Serezhin, Standard Power's Chief Executive Officer.
Energy Harbor is a financially secure independent power producer and fully integrated retail energy provider focused on safe and best-in-class operations and financial performance. With its fleet of reliable generating resources, including substantial carbon-free generation, Energy Harbor is well positioned for long-term value creation and competitiveness in a low-carbon future and is focused on enabling a growing customer and stakeholder base to meet their environmental, social and sustainability goals.
For more information on Energy Harbor visit www.energyharbor.com
About Standard Power
Standard Power is a leading hosting provider for blockchain mining companies providing services from early 2019 with a pipeline of over 1,000MW of power capacity in development. Standard Power leverages its infrastructure management expertise to develop modular data centers that lead the industry in efficiency. As part of its Tier III+ data center designs, Standard Power focuses on technologies that support high performance computing and is one of the first to adopt liquid 2-phase immersion cooling technology. Standard Power has developed robust designs and systems to provide large scale blockchain mining infrastructure to its institutional partners.
For more information on Standard Power visit www.standardpwr.com
Forward Looking Statements and Further Information
This press release contains "forward-looking statements." All statements, other than statements of historical facts, that are included in this press release that address activities, events, or developments that Energy Harbor Corp. (the "Company") expects or anticipates to occur in the future (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "are expected to," "could" and "will continue"), are forward-looking statements. Although the Company believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" contained in the Disclosure Statement of FirstEnergy Solutions Corp. filed with the Bankruptcy Court on May 30, 2019, which will be available on the Investor Website (as described below) and the following important factors, among others, that could cause the Company's actual results to differ materially from those projected in such forward-looking statements: the actions and decisions of regulatory authorities; economic conditions and power pricing within the Company's territories and markets; the Company's ability to accomplish or realize anticipated benefits from strategic and financial goals; the uncertainties associated with the deactivation of remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including with respect to the timing and amounts of the capital expenditures that may arise in connection with any such proceedings; changes in customers' demand for power; and weather conditions affecting future sales, margins and operations.
Any forward-looking statement included in this press release speaks only as of the date hereof, and except as may be required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for the Company to predict all of them; nor can the Company assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.
Further information regarding the Company will be available at www.energyharbor.com under the heading www.energyharbor.com/ir (the "Investor Website"). The Company advises that holders of the Company's securities should review all available information before making any decisions whether to buy or sell any of the Company's securities. Any information in any materials posted on the Investor Website in the future will automatically update and, where applicable, modify or supersede the information contained in this press release and any other information previously posted on the Investor Website.
SOURCE Energy Harbor