Powerbank eyes data centre power supply expansion

An anonymous director reports POWERBANK SHARES INSIGHT INTO $584.86 BILLION DATA CENTER MARKET Powerbank Corp. has shared insight into its strategic intent to pursue projects in data centre power supply, storage and development. According to a recent Globe and Mail article, cumulative new United States power generation demand is expected to reach 450 gigawatts by 2030. Powerbank is headquartered in Ontario, Canada, where energy demand is expected to increase by 75 per cent by 2050. The expansion of artificial intelligence (AI), cloud computing and high performance computing is driving much of this growth, as new server clusters, GPU farms, cooling systems and redundancy all demand vast power. The data centre market is valued at $242.72-billion (U.S.) in 2024 and projected to grow to $584.86-billion (U.S.) by 2025. A recent article in Forbes discusses the growth of data centres, "These high-security buildings are now as essential as highways and airports, connecting us to the digital economy that fuels our lives." Some estimates suggest that by 2030, U.S. data centres could consume as much as 9 per cent of total U.S. electricity. Powerbank announced in November, 2024, that it is strategically expanding into the rapidly growing data centre market. Since that time, it has been evaluating a pipeline of potential data centre opportunities. Powerbank intends to bring its proven expertise, with over 100 megawatts of completed projects and a development pipeline exceeding one gigawatt. The world requires more electrons, and Powerbank is in the business of supplying electrons. There are several risks associated with the development of any data centre. While Powerbank is expanding into the data centre industry, it does not currently have any data centre projects under development or that it has secured rights to. It is in discussions with various other parties regarding potential data centre opportunities and will provide details in a future news release if an agreement to acquire or develop a data centre is concluded. The development of any data centre project is subject to identification of a suitable project site, receipt of required permits, entry into contracts for construction and the use of the data centre, the availability of third party financing arrangements for the company, and the risks associated with the construction of a data centre. In addition, governments may revise, reduce, or eliminate incentives and policy support schemes for renewable energy, which could result in future projects no longer being economic. 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 (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, 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. We seek Safe Harbor.