Acquisition is the first milestone of the 2021 Plan
ALBANY, N.Y., January 21, 2021 /PRNewswire/ — EcoChain, Inc. (“EcoChain” or the “Company”), headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTC Pink: MKTY) announced yesterday an agreement to acquire land to build a green data center.
Today’s announcement of an agreement to acquire land is an important step in the Company’s plan to build an ultra low-cost green data center that will fulfill the Company’s goal of becoming an ultra capital efficient data center operator.
The Company anticipates that the site, which is located in the Southeast United States, represents a critical step in its strategic roadmap to grow its EcoChain business. The Company has set an objective to complete construction of a 25MW data center that will be operational in the fourth quarter of 2021.
We expect this site will be the template for future greenfield and brownfield site builds, with a keen focus on operating and capital efficiency.
In cooperation with our technical partners at Soluna, MTI continues to build a robust pipeline of green powered ultra low-cost locations. Our pipeline incorporates a blend of greenfield, brownfield and ready to operate projects.
“We are excited to be executing on our plan to build out at least 50MW by years end,” commented Michael Toporek, CEO. Added Toporek: “We very specifically have set a target to have under our control and ramp up operations of 50MW of green powered ultra low-cost data center capacity by the end of the year.” Concluded Toporek: “It was important for us to begin executing on our 2021 objectives early. Our team continues to work to meet or beat its targets.”
About EcoChain, Inc.
EcoChain is engaged in developing and operating ultra low-cost green data centers focused on crypto currency mining. For more information about EcoChain, please visit https://ecochainmining.com/.
Forward-Looking Statements for Mechanical Technology, Incorporated:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this communication, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.