Algorhythm Holdings has outlined plans for a 100 MW biomass pyrolysis-to-power generation facility under development in western North Carolina through its renewable energy subsidiary Azure Energy.
The facility will convert regional woody biomass into baseload electricity and water, with the company positioning its round-the-clock dispatchable output as suited to industrial and advanced manufacturing users that cannot tolerate intermittency or curtailment.
The project is divided into two phases. The first is expected to generate 50 MW and reach full operation in approximately 24 months, with a second phase doubling capacity to 100 MW around 12 months later.
Azure Energy said it expected to earn approximately $3 million in fee income from the project in 2027.
The company identified two routes to further value: earning more than $4 million in annual EBITDA through a minority equity stake once the facility is operational in late 2028, or selling the project upon completion of final permitting for an estimated value of up to $70 million, based on an assumed valuation of approximately $1 million per powered acre.
Azure's equity stake would yield approximately $7 million from a sale, plus additional fee income for managing the transaction.
The company said it expected to begin marketing the project and evaluating offers before the end of Q4 2026.
Andrew Thompson, chief executive of Algorhythm Holdings, said: "It is in the most advanced stage of all of the projects, and we view its near-term value as central to enhancing our balance sheet, clearing legacy financings, and positioning Azure to accelerate growth in 2027."
