Solaris forms AI data center JV, reports preliminary Q1 revenue $126M and EPS $0.14

Solaris Energy Infrastructure, Inc.

Formed Stateline JV with CTC; contributed $86.4M assets for 50.1% equity, CTC $86M for 49.9%.
JV to provide off-grid power for AI data center; represents ~900 MW (53% of Solaris Power Solutions generation).
Preliminary Q1 2025: revenue $126.3M, net income $13.0M, diluted EPS $0.14, Adjusted EBITDA $46.9M.
Cash $16.7M, no borrowings on revolver; $49.4M availability as of March 31, 2025.
Class action lawsuit filed March 28, 2025, alleging misleading statements re MER acquisition; company to defend.

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