Modular Data Center Joint Development Agreement Signed Between PowerBank Corporation and Nodiac.ai
Press Release
Agreement unlocks new revenue from PowerBank’s existing assets by co-locating containerized AI compute
Distributed, speed-to-power model pairs energy generation with AI compute to shorten transmission-queue bottlennecks
Toronto, Ontario, June 29, 2026 — PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) (“PowerBank” or the “Company”), a leader in independent energy development and asset ownership in North America, is pleased to announce the execution of a Joint Development Agreement (“JDA”) with Nodiac Development. (“Nodiac”) a distributed data center power infrastructure company specializing in the development and deployment of modular, containerized data centers co-located with energy assets.
Under the JDA, the companies intend to develop modular data centers at PowerBank sites that already hold generation and access to additional power, land, and permitting approvals. Nodiac deploys scalable, repeatable 1–20~ MW modular data center units at distribution-level interconnection points, bypassing the multi-year transmission and “large load” queue’s 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 (BESS) sites across North America for the purposes of deployment of distributed AI 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 centers 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 centers will rise approximately 130% by 2030, accounting for nearly half of the country’s total growth in electricity demand over that period1. In Canada, the Ontario Independent Electricity System Operator (IESO) forecasts provincial electricity demand to grow 75% by 2050, from 151 terawatt-hours in 2025 to 263 terawatt-hours, with energy-intensive data centers among the fastest-emerging drivers, expected to account for roughly 13% of new demand by 20352. 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 centers 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 online 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 centers across our existing energy sites,” said Dr. Richard Lu, Chief Executive Officer of PowerBank Corporation. “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, CEO of Nodiac commented, “This agreement moves our partnership with PowerBank from evaluation into execution, giving us a defined framework to deploy modular data centers 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 centers, 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 power partner on Nodiac’s website. To learn more, visit the PowerBank IPP page here. With a development pipeline of over 1 GW and more than 100 MW 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 center 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 Center Market
The global modular data center 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 USD in 2024 and is projected to reach $75–$80 billion USD by 2030, representing a compound annual growth rate of approximately 17–18%3. North America leads the global market, accounting for approximately 41% of revenue share in 20243, driven by the increasing adoption of edge computing, a strong focus on energy-efficient infrastructure, and stringent data security and environmental sustainability considerations3. The combined growth of AI and machine learning is expected to further fuel demand for modular data center solutions worldwide, as organizations increasingly seek infrastructure that can be deployed quickly and scaled to meet the pace of AI investment4. Greenfield sites integrating onsite renewables are among the fastest-growing segments of the market5, underscoring the strategic alignment between clean energy development and next-generation digital infrastructure.
Nodiac and PowerBank will collaborate on deploying modular data centers at suitable sites within PowerBank’s portfolio, with terms to be negotiated on a site-by-site basis. The construction of any modular data center is subject to conclusion of a definitive terms for the specific site, receipt of required permits, technical feasibility and financing arrangements being in place.
Notes
[1] https://www.iea.org/reports/energy-and-ai/energy-demand-from-ai
[3] https://www.grandviewresearch.com/industry-analysis/modular-data-center-market-report
[4] https://www.marketsandmarkets.com/Market-Reports/modular-data-centers-market-996.html
[5] https://www.mordorintelligence.com/industry-reports/modular-data-center-market
About PowerBank Corporation
PowerBank Corporation 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 off-takers. 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. To learn more about PowerBank, please visit www.powerbankcorp.com.
About Nodiac.ai
Nodiac is an AI infrastructure development company focused on deploying modular data centers at existing power sites, delivering inference compute capacity in months rather than the years required by traditional builds. By co-locating at sites that already have power, land, and permits in place, Nodiac addresses one of the most urgent bottlenecks in AI infrastructure: getting compute online at the speed the market demands. With a pipeline exceeding 800 MW across 500+ identified sites in 30+ states, Nodiac works with independent power producers, utilities, and hyperscalers to unlock new, high-value revenue from existing energy assets with minimal disruption. Nodiac’s team brings deep experience from leading renewable energy firms, with over $26 billion in energy projects developed, financed, and operated around the globe. To learn more, visit www.nodiac.ai.
For further information, please contact:
PowerBank Corporation
Tracy Zheng
Email: ir@powerbankcorp.com
Phone: 289.439.4718
ILR5
