Algorhythm Holdings Inc（RIME）资讯与事件RIMEAlgorhythm Holdings Inc

Algorhythm Holdings Appoints Greg Smith as CEO

Algorhythm Holdings announced that its Board of Directors has appointed Greg Smith as CEO. Smith succeeds Andrew Thompson, who is stepping down for health reasons and transitioning to a key business development role to focus on the Company's rapidly increasing pipeline of prospective new business opportunities in the southeastern US. Smith is a member of the Company's Board of Directors, with more than 30 years of management and operational leadership experience from IBM, where he held progressively senior management positions overseeing complex, multinational organizations. As part of the leadership transition, Mr. Thompson will take on a leadership role in new business development at Azure Energy. Mr. Thompson is specifically tasked with executing on opportunities with municipal partners and commercial sponsors for powered land projects suitable for hyperscaler data center and advanced manufacturing end users. The Company expects the leadership transition to support continuity in its ongoing operations and strategic initiatives, including the development and commercialization of Azure Energy's renewable power generation projects.

Algorhythm and SemiCab Update on $7.34B Renewable Energy Project

Algorhythm and SemiCab Holdings provided an operational update on a 1,500 MW combined renewable natural gas and biomass power plant project in Mississippi. Engineering for the project is nearly complete, and it is being marketed to potential tenants, including data centers and advanced manufacturing facilities, that would co-locate on site. The $7.34B project will sit on a 1,664-acre site in north-central Mississippi. It combines 500 MW of net generation from a biomass pyrolysis-to-power plant, 1,000 MW of natural gas generation, and a 150,000-ton absorption chilled water plant. All output will be delivered behind the meter to a single co-located large-load tenant, such as a hyperscale data center or advanced manufacturing facility. The campus is expected to become operational in three phases, with the first phase delivering approximately 250 MW of power within 18 months of notice to proceed. The facility is expected to reach its full generation capacity within 54 months of notice to proceed. Local development partners have secured feedstock through a right of first refusal and a memorandum of understanding. Phase II engineering is scheduled for completion in October 2026, and the Independent Engineer report is due in December. Azure expects to earn approximately $5M in fee income in 2027 under the current scope of engagement, with additional fee income opportunity under negotiation. Azure currently holds a 10% equity stake in the project. The project has two clearly defined paths to unlock value. First, if the project is completed as scheduled, Azure is projected to earn approximately $40M in EBITDA annually from the project once it reaches full operation. Alternatively, the project could be sold upon the completion of final permitting in early 2027, with an estimated value of up to $1.66B based on prevailing market conditions. If sold as valued, the gross proceeds due to Azure would be approximately $166M for its equity stake, plus additional fee income for managing the transaction. The company expects to select capital markets partners before the end of Q4 to evaluate offers. Full marketing of the project is expected to begin in early Q1 2027.

Algorhythm and SemiCab Plan 100MW Biomass Power Plant in North Carolina

Algorhythm and SemiCab Holdings provided details of one of its significant sources of revenue and value creation, a 100MW biomass renewable power plant project in North Carolina. The project is a 100 MW pyrolysis-to-power generation facility currently under development in western North Carolina. The facility will convert regional woody biomass into firm, dispatchable electricity and water. It will be able to produce baseload capacity around the clock, which makes it suitable for industrial and advanced manufacturing users that cannot tolerate intermittency or curtailment. The project is divided into two separate timelines and deliverables. The first phase is expected to generate 50MW of power and is expected to be fully operational in approximately 24 months. The second phase would double the production capacity to 100MW and would require an additional 12 months to come online thereafter. Based on existing contracts, Azure is forecast to earn approximately $3M in fee income in 2027. Azure also has two clearly defined paths to unlock additional value from the project in the future. First, if the project is completed as scheduled, the company expects to earn in excess of $4M in EBITDA annually through its minority equity stake once the facility is operational in late 2028. Alternatively, the project could be sold upon completion of final permitting, with an estimated value of up to $70M, based on an assumed valuation of approximately $1M per powered acre, consistent with Colliers' 2026 U.S. Data Center Marketplace Report. If sold, Azure would receive approximately $7M for its equity stake, plus additional fee income for managing the transaction. Azure expects to begin marketing the project and fully evaluate offers before the end of Q4.