New York Supreme Court Rules for Greenidge Generation
2024年11月15日 - 7:45AM
ビジネスワイヤ(英語)
DEC’s Denial of Air Permit Rejected by the
Court; Deemed “Arbitrary and Capricious”
Greenidge’s NY Facility to Continue Operations,
Providing High-Tech Local Jobs and Power to the Electrical Grid
Daily
Seventh Court Ruling on Greenidge Operations –
Seven Decisions in Favor of Greenidge
Greenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge”
or the “Company”), a vertically integrated cryptocurrency
datacenter and power generation company, issued the following
information and statement regarding the ruling today from New York
Supreme Court Judge Vincent Dinolfo rejecting the New York State
Department of Environmental Conservation’s (“DEC”) action to deny
Greenidge’s application for renewal of a Title V Air Permit.
Greenidge’s operations at its New York facility will now continue
uninterrupted.
Judge Dinolfo stated in his ruling annulling DEC’s action the
following:
- That DEC “acted in a manner that was both affected by errors of
law and arbitrary and capricious”;
- The “Final Denial had no rational basis for its decision to
forgo CLCPA § 7(2)’s justification analysis”; and
- The State’s “interpretation of the analysis required under
CLCPA Section 7(2) is flawed”.
Statement of Greenidge Generation:
“Transparent political bias lost today. Facts and the rule of
law won. The ruling ensures our facility will continue operating
and our local employees will not have their careers ripped away by
politically motivated governmental overreach that had no basis in
law from the first day it began.
“The Climate Act is a good and well-intended law, but it did not
give DEC political appointees and bureaucrats the power to rewrite
a statute and unilaterally decide for themselves the value of
working-class New Yorkers’ jobs. They tried hard, in concert with
their allies in the advocacy community for whom truth was a bridge
too far, but no amount of spin could change that fact.
“The damage caused to our company and employees by the
recklessness of the DEC and all those who lied about our operation
is real, and today the Court set the record straight – we were
right, and the state and its allies were wrong.
“This is the seventh court ruling on Greenidge’s operation –
with seven decisions in favor of Greenidge. Why? Because when
actual judges rule — not DEC political actors — the facts and law
govern, and our record is clear: we comply with state and federal
law.
“DEC wanted a virtue-signaling result: to shut down a facility
with no material impact on reaching Climate Law goals and one that
offered significant emissions mitigation consistent with Climate
Act aims. So they tried to short-circuit the process to get to
their pre-determined outcome – and they got caught.
“This decision highlights the growing importance of data center
operations – whether supporting AI, digital currency, cloud
computing, or other high-tech businesses – and how we can bring
modern career paths to Upstate New Yorkers, who have waited far too
long for the opportunity.
“Our facility shows this region can create future-focused data
center jobs and economic activity by utilizing power behind the
meter – and provide power to the electrical grid everyday – while
also meeting the state’s ambitious climate goals.
“Going forward, we hope the DEC will listen to the Court and
begin working collaboratively with Greenidge to finalize a new
permit, consistent with the court’s rebuke of the State’s decision
and for the benefit of New York State.”
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated power generation company, focusing on
cryptocurrency mining, infrastructure development, engineering,
procurement, construction management, operations and maintenance of
sites.
Forward-Looking Statements
This press release includes certain statements that may
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact are
forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge’s financial
or operating results. These forward-looking statements may be
identified by terms such as “anticipate,” “believe,” “continue,”
“foresee,” “expect,” “intend,” “plan,” “may,” “will,” “would,”
“could,” and “should,” and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance.
Forward-looking statements in this press release include, among
other things, statements regarding the business plan, business
strategy and operations of Greenidge in the future. In addition,
all statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future are forward looking statements.
Forward-looking statements are subject to a number of risks,
uncertainties and assumptions. Matters and factors that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements include but are not limited to
the matters and factors described in Part I, Item 1A. “Risk
Factors” of Greenidge’s Annual Report on Form 10-K for the year
ended December 31, 2023 and Quarterly Report on Form 10-Q for the
period ended September 30, 2024, as well as statements about or
relating to or otherwise affected by the completion of management’s
final review of the financial results and Greenidge’s other closing
procedures. Consequently, all of the forward-looking statements
made in this press release are qualified by the information
contained under this caption. No assurance can be given that these
are all of the factors that could cause actual results to vary
materially from the forward-looking statements in this press
release. You should not put undue reliance on forward-looking
statements. No assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do occur, the actual results, performance,
or achievements of Greenidge could differ materially from the
results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20241114080605/en/
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