## SolarBank Corporation Enters the Booming Data Center Market with Sustainable Energy Solutions
TORONTO, Nov. 7, 2024 – SolarBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: GY2) (“SolarBank” or the “Company”), a leading provider of renewable energy solutions, is making a strategic move into the rapidly expanding data center market. This expansion aligns with SolarBank’s commitment to harnessing clean energy technologies and will see the company pursue opportunities as a developer, owner, and strategic partner in data center infrastructure.
Capitalizing on a Growing Industry
The global data center market is projected to reach a staggering $395 billion by 2030, driven by surging demand for cloud computing, artificial intelligence, big data analytics, and the Internet of Things (IoT). This exponential growth presents a unique challenge – the industry’s vast energy requirements necessitate scalable and eco-friendly solutions. SolarBank is uniquely positioned to meet this challenge with its expertise in renewable energy.
Joining Industry Leaders and Investing in a Sustainable Future
SolarBank’s entry into the data center sector places it alongside leading global companies such as Amazon, Microsoft, Google, Facebook (Meta Platforms), and Apple – all Fortune 500 companies heavily invested in expanding data center capacity. These tech giants have collectively invested over $100 billion in data center infrastructure over the past five years, each committed to advancing sustainable and energy-efficient operations to meet worldwide data demands.
Prominent data center providers like Equinix, Digital Realty, and CyrusOne have also made significant investments to address the digital economy’s need for resilient and efficient data facilities. SolarBank’s focus on sustainability perfectly aligns with the priorities of these industry leaders as they work towards reducing their environmental impact.
Strategic Partnerships and Future Plans
As SolarBank expands into this market, it is actively exploring partnerships and ownership opportunities with key players in data center infrastructure. By leveraging partnerships and its own development capabilities, SolarBank aims to deliver energy-efficient, carbon-reducing data center solutions that support both immediate needs and long-term growth.
“Expanding into the data center business aligns with our vision of creating a resilient and sustainable energy grid,” said Richard Lu, CEO of SolarBank. “Our experience in renewable energy will enable us to deliver energy-efficient, carbon-reducing data centers to support today’s data needs and tomorrow’s technological advancements. As the world accelerates toward a future driven by AI, automation, and clean energy, SolarBank remains committed to delivering innovative, scalable solutions that not only power industries but also empower communities.”
A Commitment to Sustainability and Innovation
SolarBank’s foray into the data center market underscores its dedication to integrating renewable energy into diverse and emerging markets. As part of its commitment to sustainable energy, SolarBank aims to reduce the overall carbon footprint of data infrastructure, advancing both corporate goals and broader environmental impact.
The Company’s expansion reflects its strategic vision to foster innovation and support a sustainable future through clean energy integration. SolarBank recognizes the potential of this market and is well-positioned to contribute to the development of a more sustainable digital future.
