Technologies New Energy (LSE:TNE), share traded up around 8%, after it announced the signing of a strategic agreement with Data District Inc to support the development of AI-optimised data centres in Alberta, Canada.
The agreement covers a pipeline exceeding 1GW of capacity, with initial operations targeted from 2026, the company said.
Phase one of the programme is expected to comprise four data centre projects with a combined capacity of around 240MW and a development budget of €780 million. Data District, a division of Swiss asset manager Alcral AG, is working with local partners across Alberta’s industrial clusters, which benefit from established energy infrastructure and processing capacity.
Under the agreement, TNE will support Data District across strategy, supply chain and delivery. This includes advising on scalable data centre design, supporting integrated power solutions using modular gas generation, batteries and energy storage, and helping expand the skilled workforce required to build and operate the facilities.
Julio Perez, chief executive officer of Technologies New Energy, said: “Our agreement with Data District represents a major step forward in TNE's strategy to accelerate the build-out of energy and infrastructure critical to the global AI and data centre economy.”
In London, TNE shares moved up 8.3% to 32.5p in Monday morning's trading.