Algorhythm Holdings, through its subsidiary Azure Energy, is developing a 100MW biomass power plant in North Carolina that converts woody biomass into reliable electricity. The project is planned in two phases, with the first 50MW operational in about 24 months and full 100MW capacity a year later. Azure expects $3 million in fee income in 2027 and could generate over $4 million in annual EBITDA from its minority stake once operational in late 2028. Alternatively, the project could be sold after final permits for up to $70 million, with Azure receiving about $7 million from the equity sale. Marketing and evaluation of offers will begin before the end of Q4 2026, positioning the project as a key asset for Algorhythm's growth and balance sheet improvement.
Algorhythm's potential $70 million project cash value stands out as a notable figure in renewable power development news. For readers following the Energy sector, here is Pluang's market snapshot as of Oct 13, 2026 19:41 WIB: Among 62 priced US Energy-sector stocks tradable on Pluang, 42 rose and 17 fell today. Notable prices include UGP at USD 7.78 with a 1-day change of -1.39% and 100% buy order activity, TDW at USD 87.40 up 1.10%, and INDO at USD 2.71 down 1.09% with 95% buy order activity and a typical hold time of 24 days.
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