regulatory
confidence high
sentiment positive
materiality 0.75
Court annuls NY DEC's denial of Greenidge air permit; facility to continue operations
Greenidge Generation Holdings Inc.
- New York Supreme Court ruled DEC's permit denial was 'arbitrary and capricious' and annulled the shutdown order.
- Greenidge's Dresden facility will continue operating pending remand to the DEC for further proceedings.
- This is the seventh court ruling in favor of Greenidge, with all seven decisions supporting the company.
- The court found the DEC acted with errors of law and lacked rational basis for its denial.
- Company cites political bias by DEC; expects collaborative permit process going forward.