PowerBank Corporation (NASDAQ: PBK) has signed a Joint Development Agreement with Nodiac Development to co-locate modular, containerized data centers at PowerBank's existing renewable energy sites across North America.

Under the agreement, the two companies plan to develop modular data centers at PowerBank sites that already hold power generation capacity, land, and permitting approvals. Nodiac deploys scalable 1–20 megawatt modular data center units at distribution-level interconnection points. PowerBank has a development pipeline of over 1 gigawatt and more than 100 megawatts of built renewable energy capacity across Canada and the United States.

The agreement follows a Letter of Intent signed between the companies in April, which outlined plans to leverage PowerBank's portfolio of solar and Battery Energy Storage System sites for the deployment of AI compute infrastructure. The JDA establishes a framework for joint development of modular data centers on selected sites and provides both companies with a structure for cash flow distribution from projects. Site-specific terms are to be negotiated individually, and construction remains subject to definitive agreements, permits, technical feasibility, and financing.

"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," said Dr. Richard Lu, Chief Executive Officer of PowerBank Corporation.

Robert Sher, CEO of Nodiac, said the agreement moves the partnership "from evaluation into execution," adding that PowerBank's solar and BESS sites already have the generation, land, and interconnection needed to deploy compute infrastructure.

According to the press release, the International Energy Agency projects U.S. data center electricity consumption will rise approximately 130% by 2030, while Ontario's grid operator forecasts provincial electricity demand to grow 75% by 2050.