Algorhythm Identifies Potential Equity Proceeds Of $7M From Strategic Sale Of Its 100 MW Project In North Carolina; Unit Azure Energy Expects To Begin Marketing The Project And Fully Evaluate Offers Before The End Of 2026

Algorhythm Holdings, Inc. (NASDAQ: RIME) has identified potential equity proceeds of $7 million from the strategic sale of its 100 MW biomass renewable power plant project in North Carolina. The project, currently under development, is expected to generate $3 million in fee income in 2027 and over $4 million in annual EBITDA once operational in late 2028. The facility aims to produce firm, dispatchable electricity and is divided into two phases, with the first phase set to be operational in approximately 24 months.