Dr. Richard Lu reports

POWERBANK SIGNS LOI WITH MODULAR DATA CENTER COMPANY NODIAC.AI, UNLOCKING POTENTIAL ADDITIONAL REVENUE FROM EXISTING ENERGY ASSETS

Powerbank Corp. has signed a letter of intent with Nodiac Corp., a distributed data centre power infrastructure company specializing in the development and deployment of modular, containerized data centres co-located with renewable energy assets. The LOI provides a framework 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.

Nodiac's speed-to-power platform is built on the principle that AI infrastructure does not need to wait for new grid capacity. By co-locating modular data centres at sites that already hold generation and access to additional power, land and permitting approvals, Nodiac's platform is designed to bring inference and other forms of compute on-line in months rather than years. The company deploys scalable, repeatable one- to 15-approximate-megawatt modular data centre units at distribution-level interconnection points -- bypassing the multiyear transmission and large load queues that delay traditional hyperscale builds. The company was founded by a team with deep roots in the energy industry, drawing on experience from Greenbacker, Acciona Energy and Invenergy across more than $26-billion (U.S.) in energy project development.

Under the terms of the LOI, Powerbank will share information about its portfolio of solar and BESS sites with Nodiac for screening and assessment against Nodiac's proprietary suitability criteria in its NORA platform. Both parties have declared their intent to collaborate on deploying modular data centres at suitable sites within Powerbank's portfolio, with definitive agreements to be negotiated on a site-by-site basis. Nodiac is already showcasing the transaction on its platform, with Powerbank featured as a speed-to-power partner.

"The accelerating demand for AI compute infrastructure represents a defining opportunity for renewable energy developers and an urgent challenge for the planet," said Dr. Richard Lu, chief executive officer of Powerbank. "Our planned transaction with Nodiac reflects our conviction that the digital economy must be built on a clean energy foundation. With the potential to co-locate data centre infrastructure directly at our renewable energy sites, we are not only providing an opportunity for accelerating speed to power for the AI industry, we are intending to ensure that the infrastructure powering tomorrow's economy is sustainable, distributed and resilient."

Robert Sher, chief executive officer of Nodiac, commented: "Powerbank has built an impressive portfolio of renewable energy assets across North America, and we see tremendous potential to unlock new value from that infrastructure. By co-locating modular data centres at their solar and BESS sites, we can deliver speed to power for the AI industry while generating meaningful new revenue streams for Powerbank's existing assets. This is the distributed model that the market is moving toward."

The LOI aligns with Powerbank's strategic focus on distributed energy infrastructure and its growing data centre solution division. 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.

The LOI is not a definitive agreement. Nodiac and Powerbank will collaborate on deploying modular data centres at suitable sites within Powerbank's portfolio, with definitive agreements to be negotiated on a site-by-site basis. The construction of any modular data centre is subject to conclusion of a definitive agreement, receipt of required permits, technical feasibility and financing arrangements being in place.

About Powerbank Corp.

Powerbank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system projects that sell electricity to utilities and commercial, industrial, municipal and residential offtakers. The company maximizes returns through a diverse portfolio of projects across multiple leading North America markets, including projects with utilities, host offtakers, community solar and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.

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