Dr. Richard Lu reports

MODULAR DATA CENTER JOINT DEVELOPMENT AGREEMENT SIGNED BETWEEN POWERBANK CORPORATION AND NODIAC.AI

Powerbank Corp. has executed a joint development agreement with Nodiac Development, a distributed data centre power infrastructure company specializing in the development and deployment of modular, containerized data centres co-located with energy assets.

Under the JDA, the companies intend to develop modular data centres at Powerbank sites that already hold generation and access to additional power, land and permitting approvals. Nodiac deploys scalable, repeatable one- to approximately 20-megawatt modular data centre units at distribution-level interconnection points, bypassing the multiyear transmission and large load queues that delay traditional hyperscale builds.

Powerbank first announced its collaboration with Nodiac.ai in April, with the execution of a letter of intent between the companies. This agreement outlined the intention to leverage Powerbank's portfolio of solar and battery energy storage system sites across North America for the purposes of deployment of distributed artificial intelligence compute infrastructure on such sites.

Powerbank will advance current collaborations with Nodiac to evaluate additional sites. The JDA also establishes a framework for the joint development of modular data centres on selected sites and provides both companies with a framework for the distribution of cash flow from the projects.

The agreement comes at a time of unprecedented growth in electricity demand across North America as artificial intelligence reshapes the power needs of the digital economy. In the United States, the International Energy Agency projects that electricity consumption from data centres will rise approximately 130 per cent by 2030, accounting for nearly half of the country's total growth in electricity demand over that period. In Canada, the Ontario Independent Electricity System Operator forecasts provincial electricity demand to grow 75 per cent by 2050, from 151 terawatt-hours in 2025 to 263 terawatt-hours, with energy-intensive data centres among the fastest-emerging drivers, expected to account for roughly 13 per cent of new demand by 2035. This pace of growth is placing significant strain on electricity grids and extending interconnection timelines for traditional, large-load builds. By co-locating modular data centres directly at Powerbank's renewable energy sites, which already hold generation, land and permitting, the JDA advances a distributed, speed-to-power model designed to bring AI compute on-line in months rather than years, reinforcing the strategic vision Powerbank outlined in its June 4, 2026, announcement, "AI Data Center Strategy Drives Powerbank's Corporate Rebrand."

"The execution of this joint development agreement marks an important step forward in our work with Nodiac. We are moving from a shared vision to a defined framework for developing modular data centres across our existing energy sites," said Dr. Richard Lu, chief executive officer of Powerbank. "Powerbank has spent years developing, owning and operating renewable power across North America, and those same assets are now becoming the potential foundation for the distributed AI compute the digital economy depends on. By bringing generation and compute together at the same site, we can deliver speed to power for the AI industry while unlocking durable new value from infrastructure we already own. We intend to ensure the platform powering tomorrow's economy is built on a clean, distributed and resilient energy foundation."

Robert Sher, chief executive officer of Nodiac, commented: "This agreement moves our partnership with Powerbank from evaluation into execution, giving us a defined framework to deploy modular data centres across one of the strongest renewable portfolios in North America. The single biggest constraint in AI infrastructure today is access to power, and Powerbank's solar and BESS sites already have the generation, land and interconnection in place to put compute to work in months rather than years. By building where power is ready today, we can scale speed to power for the AI industry while turning existing energy assets into new, high-value revenue, which is exactly the distributed model the market is moving toward."

The JDA aligns with Powerbank's strategic focus on AI compute infrastructure and modular data centres, which the company recently established as a core strategic growth vertical alongside its solar and battery energy storage platform. Powerbank is featured as a speed-to-power partner on Nodiac's website. With a development pipeline of over one gigawatt and more than 100 megawatts of built renewable energy capacity across Canada and the United States, Powerbank's existing portfolio of solar and BESS sites offers significant potential for modular data centre co-location. The company believes this initiative can generate meaningful new revenue streams from existing assets while supporting the sustainable development of North America's digital economy.

About the modular data centre market

The global modular data centre market is experiencing rapid growth, driven by surging demand for scalable, energy-efficient and rapidly deployable infrastructure to support cloud computing, edge computing and artificial intelligence workloads. The market was valued at approximately $29-billion (U.S.) in 2024 and is projected to reach $75-billion (U.S.) to $80-billion (U.S.) by 2030, representing a compound annual growth rate of approximately 17 to 18 per cent. North America leads the global market, accounting for approximately 41 per cent of revenue share in 2024, driven by the increasing adoption of Edge computing, a strong focus on energy-efficient infrastructure, and stringent data security and environmental sustainability considerations. The combined growth of AI and machine learning is expected to further fuel demand for modular data centre solutions worldwide, as organizations increasingly seek infrastructure that can be deployed quickly and scaled to meet the pace of AI investment. Greenfield sites integrating on-site renewables are among the fastest-growing segments of the market, underscoring the strategic alignment between clean energy development and next-generation digital infrastructure.

Nodiac and Powerbank will collaborate on deploying modular data centres at suitable sites within Powerbank's portfolio, with terms to be negotiated on a site-by-site basis. The construction of any modular data centre is subject to conclusion of a definitive terms for the specific site, receipt of required permits, technical feasibility and financing arrangements being in place.

About Powerbank Corp.

Powerbank is a vertically integrated and independent North American energy company helping to power the digital economy. The company develops, builds, owns and operates solar and battery energy storage systems that deliver reliable, resilient and behind-the-meter power to the electricity grid, commercial and industrial clients, and municipal and residential offtakers. As AI and digital infrastructure drive unprecedented electricity demand, Powerbank is uniquely positioned to deliver the speed, scale and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. The company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built.

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