Greenidge Generation Holdings Inc.
10/29/2024 | Press release | Distributed by Public on 10/29/2024 15:12
Material Event Form 8 K
Item 8.01 - Other Events.
As previously disclosed, on August 20, 2024, Greenidge Generation LLC, a wholly owned subsidiary of Greenidge Generation Holdings Inc. (collectively, the "Company"), submitted a motion to the New York Supreme Court, Yates County (the "Court") by Order to Show Cause seeking a temporary restraining order and preliminary injunction (the "TRO Request") permitting the Company's Dresden, NY facility (the "Facility") to continue operations during the pendency of the Article 78 proceeding, which seeks declaratory and injunctive relief relating to the New York State Department of Environmental Conservation's (the "Department") denial of the Company's Title V Air Permit renewal application for the Facility (the "Denial").
Subsequent to the submission of the TRO Request, on August 23, 2024, the Company and the Department agreed to a briefing schedule with respect to the TRO Request, with a hearing before the Court scheduled to occur in late October 2024 (the "Hearing"). In connection with the agreed-upon briefing schedule, the Department agreed that the Company need not (i) cease operations of any air contamination sources located at the Facility, (ii) render such air contamination sources inoperable, or (iii) relinquish the Title V Air Permit until November 1, 2024 (the "November 1 Stay").
On October 29, 2024, the Hearing was held before the Court and a stipulation on the record was entered into between the Company and the Department, agreeing to extend the November 1 Stay through November 14, 2024 (the "November 14 Stay"). The Company expects that the Court will render a decision on the TRO Request or, alternatively, the Company's Article 78 challenge of the Denial in total, prior to the expiration of the November 14 Stay.
The Company will continue to provide updates on the Article 78 proceeding as necessary and appropriate.