PowerBank Corporation (NASDAQ: SUUN) announced its expansion into AI compute infrastructure and modular data center development as a strategic growth vertical alongside its existing solar and battery energy storage operations.

The Toronto-based energy company cited increasing electricity demand from artificial intelligence, cloud computing, and high-performance computing as the driver for this strategic shift. PowerBank stated that hyperscale AI data centers are expected to become major power consumers, creating strain on electricity grids across North America.

The company plans to pursue opportunities in modular and containerized data centers, AI compute infrastructure, energy solutions for data centers, behind-the-meter power generation, and battery-supported compute operations. PowerBank intends to leverage co-location opportunities with its existing solar and battery energy storage system assets.

PowerBank previously announced a Letter of Intent with Nodiac Corp., a company focused on modular and containerized data center deployment solutions. The agreement establishes a framework for potential collaboration to evaluate deploying modular data center infrastructure at select PowerBank energy sites across North America. Any future deployment projects remain subject to definitive agreements, permitting, technical assessments, and financing arrangements.

"Artificial intelligence is creating one of the largest infrastructure transformations the world has seen in generations," said Richard Lu, Chief Executive Officer of PowerBank. "Every major technology company in the world is now competing for AI compute capacity, and the reality is simple, none of it works without power."

The company reported having a development pipeline exceeding one gigawatt across Canada and the United States. PowerBank stated it has developed energy projects with a combined capacity of over 100 megawatts.

PowerBank also announced its ticker symbol will change from "SUUN" to "PBK" on NASDAQ and from "SUNN" to "PBK" on the Cboe Canada Exchange, effective June 3, 2026.