Florida-based Algorhythm Holdings said October 13, 2026, that subsidiary Azure Energy may sell a proposed 100-megawatt biomass power project in western North Carolina for as much as $70 million after final permitting. The company plans to begin evaluating offers before year-end, positioning the development as a possible source of cash for its renewable-energy business.

No buyer, completed sale, electricity customer or operating plant was announced. The estimated $70 million value is based on management’s assumed $1 million per powered acre—not an independent appraisal or binding bid.

Two Phases, Not 100 MW Already Operating

The developer expects an initial 50 MW phase to reach operation roughly 24 months after its October announcement, followed about 12 months later by a second 50 MW increment. The full 100 MW figure is an eventual target, not today’s generating capacity. Construction dates depend on financing, permits, grid arrangements and equipment delivery.

Azure projects around $3 million in 2027 project-related fees. It presents two alternatives: retain a minority stake and potentially earn more than $4 million in annual EBITDA after operation begins, or sell the permitted project and receive an estimated $7 million in equity proceeds plus fees. These scenarios are contingent, not realized earnings.

How Forest Residues Become Electricity

Azure’s pyrolysis-to-power process proposes drying low-grade wood chips, heating them without oxygen, and converting the resulting synthesis gas into heat for a steam turbine. Biochar and recovered water are also proposed outputs. The U.S. Department of Energy describes similar thermal conversion pathways, but does not independently certify Azure’s project economics or availability claims.

U.S. Department of Energy’s 2026 Bioenergy 101 explainer covers how biomass is converted into fuels and products. This is general technology context, not footage from Azure’s unbuilt North Carolina facility.

Unlike solar photovoltaics, a biomass plant could produce dispatchable power if it maintains adequate feedstock and reliable equipment. However, Azure’s carbon-negative and high-uptime claims require independent lifecycle-emissions, biochar-storage and operating evidence. Burning synthesis gas still releases carbon dioxide at the generator; renewable and low-emission are not synonymous.

Wisconsin Energy Institute’s Biomass Pyrolysis lab tutorial explains the thermal conversion of biomass to gases, liquids and char. It is an educational demonstration, not validation of Azure’s commercial design.

The North Carolina plan is distinct from Azure’s much larger Mississippi gas-and-biomass proposal. Both target energy-hungry industrial users, including potential off-grid data centers. The next hard milestones are disclosed permits, a credible power buyer, proven feedstock supplies and evidence of commercial financing—not the projected sale price.

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