PowerBank Unveils First 2 MW Ontario AI Data Center With ~C$2M Potential Annual Lease Revenue
PBK is trading near its 52-week low of $0.142 (5.6% above the low).
Summary
PowerBank announced its first 2 MW modular AI data center in Ontario, targeting roughly C$2 million in annual lease revenue by fiscal 2028 — but no tenant is signed and key permits are not yet in hand.
Key Events · M&A and Partnerships · PBK
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First Ontario AI Data Center Lease
The joint development partner executed the first lease for a 2 MW modular data center in Ontario, the first of several planned sites under the joint development agreement.
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~C$2M Potential Annual Lease Revenue
If a tenant is secured for the full ~1.77 MW of leasable IT capacity, the project could generate approximately C$2 million in annual lease revenue, shared with the partner under the JDA.
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~C$10M Build Cost, Split With Partner
Facility capital cost — including land, modular shell, electrical, liquid cooling and fiber — is estimated at approximately C$10 million, funded by PowerBank and its partner; the tenant buys its own GPUs.
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Permits and Tenant Still Outstanding
A zoning by-law amendment and building permit have not been obtained, and no tenant agreement is signed — the company is in discussions with several potential tenants.
Analysis · PBK · Real Estate & Construction
PowerBank is converting an existing Ontario energy site into a second revenue stream by leasing a powered shell to an AI cloud tenant — the first project under its joint development agreement and a template for several more Ontario sites. The headline C$2 million annual lease revenue is entirely prospective: no tenant is signed, the zoning amendment and building permit are not obtained, and commercial operation is not expected until fiscal 2028. Because the ~C$10 million build cost is split with the partner and the revenue would be shared too, the net contribution to PowerBank is smaller than the headline. Against a going-concern warning and a Nasdaq minimum-bid deficiency disclosed in late September and early October, this gives the equity a growth narrative, but it does not fix near-term liquidity — the company still needs capital, which is why the $200 million shelf filed 2026-10-26 matters more for survival than this announcement.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PBK was trading at $0.15 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $186.6M. The 52-week trading range was $0.14 to $2.25. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.