PowerBank Corporation has signed a Joint Development Agreement with Nodiac to build modular AI data centers co-located a
PowerBank Corporation, a North American renewable energy developer and asset owner trading on NASDAQ (PBK), Cboe Canada (PBK), and the Frankfurt exchange (103), announced on June 29, 2026 the execution of a Joint Development Agreement with Nodiac Development, a distributed data center infrastructure company. Under the JDA, the two companies will develop modular data centers at PowerBank sites that already have generation capacity, land access, and permitting approvals in place.
Nodiac specializes in deploying scalable, repeatable modular data center units ranging from 1 to 20 megawatts at distribution-level interconnection points. This approach bypasses the multi-year transmission queues that traditionally delay hyperscale data center builds. PowerBank first announced its collaboration with Nodiac in April through a Letter of Intent outlining plans to leverage PowerBank's portfolio of solar and Battery Energy Storage System sites across North America for distributed AI compute infrastructure deployment.
The agreement establishes a framework for joint development of modular data centers on selected sites and defines how project cash flows will be distributed between the companies. PowerBank will advance current collaborations with Nodiac to evaluate additional potential sites for deployment.
The timing reflects unprecedented growth in electricity demand driven by artificial intelligence. The International Energy Agency projects that US data center electricity consumption will rise approximately 130 percent by 2030, accounting for nearly half of the country's total growth in electricity demand over that period. Canada's Ontario Independent Electricity System Operator forecasts provincial electricity demand will grow 75 percent by 2050, from 151 terawatt-hours in 2025 to 263 terawatt-hours, with energy-intensive data centers expected to account for roughly 13 percent of new demand by 2035. This growth is straining electricity grids and extending interconnection timelines for large traditional builds.
Dr. Richard Lu, Chief Executive Officer of PowerBank, stated: "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. 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."
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."
PowerBank operates a development pipeline exceeding 1 gigawatt and has built more than 100 megawatts of renewable energy capacity across Canada and the United States. The company believes this initiative can generate meaningful new revenue streams from existing assets while supporting sustainable digital infrastructure development in North America.
The global modular data center market was valued at approximately 29 billion US dollars in 2024 and is projected to reach 75 to 80 billion US dollars by 2030, representing a compound annual growth rate of approximately 17 to 18 percent. North America leads the global market with approximately 41 percent of revenue share in 2024, driven by increasing adoption of edge computing, focus on energy-efficient infrastructure, and stringent data security and environmental sustainability requirements. Greenfield sites integrating onsite renewables are among the fastest-growing market segments, 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 specific terms to be negotiated on a site-by-site basis. Construction of any modular data center is subject to definitive terms being finalized for that specific site, receipt of required permits, technical feasibility confirmation, and financing arrangements being in place.