- Digihost Technology (TSXV:DGHI) has have a memorandum of understanding (MOU) with Nano Nuclear Energy (NASDAQ:NNE) to advance the transition to carbon-free energy at Digihost’s 60-megawatt power plant in upstate New York
- This collaboration aims to leverage Nano Nuclear’s nuclear reactor technologies to provide energy for Digihost’s high-tech operations
- This collaboration represents a pivotal step towards zero-emission energy solutions for Digihost by transitioning its existing power infrastructure to advanced nuclear energy
- Digihost Technology stock (TSXV:DGHI) opened trading at C$2.63 and Nano Nuclear Energy stock (NASDAQ:NNE) opened trading at C$32.75
In a significant move towards sustainable energy, an innovative energy infrastructure company and a leader in advanced nuclear energy and technology have signed a memorandum of understanding (MOU) to advance the transition to carbon-free energy.
Digihost Technology (TSXV:DGHI) will conduct the work at its 60-megawatt power plant in upstate New York with Nano Nuclear Energy (NASDAQ:NNE).
This collaboration aims to leverage Nano Nuclear’s nuclear reactor technologies to provide energy for Digihost’s operations, including AI-driven data centres and digital asset colocation programs.
The MOU outlines a framework to enhance public understanding and community support for nuclear energy, particularly advanced nuclear technologies like Nano Nuclear’s ‘ZEUS’ and ‘ODIN’ portable microreactors. These reactors are designed to provide consistent and carbon-neutral baseload energy safely and reliably.
This collaboration represents a pivotal step towards zero-emission energy solutions for Digihost by transitioning its existing power infrastructure to advanced nuclear energy. In the interim, Nano Nuclear will optimize Digihost’s current gas power infrastructure to ensure energy stability while nuclear deployment is developed. Nano Nuclear will also provide consulting services to support the planning and execution of the project, including regulatory advice, site assessment, roadmap development, and stakeholder engagement.
“The opportunity to collaborate with Nano Nuclear represents a bold move toward achieving our sustainability goals,” Digihost CEO Michel Amar said in a news release. “By leveraging Nano Nuclear’s advanced nuclear reactor technology, we gain the potential ability to scale quickly across our existing power assets following successful initial deployment. This collaboration positions Digihost at the forefront of delivering reliable, modular baseline power, enabling the development of Tier III HPC data centres in locations previously deemed unfeasible. This strategic move also allows us to capitalize on the rapidly expanding Tier III data centre market, further solidifying our leadership in the industry.”
The deployment of Nano Nuclear’s nuclear reactor technology is expected to replace Digihost’s existing infrastructure, advancing Digihost’s commitment to carbon neutrality and providing reliable baseload power for its expanding data centre operations. The project timeline aligns with Nano Nuclear’s expectations for licensing and deployment, targeting reactor integration within Digihost’s operations by 2031.
Before deployment, the companies will conduct a comprehensive site assessment, initiate site preparations, and develop a phased implementation strategy. They will collaborate on the design, construction, testing, and commissioning of an advanced microreactor power system and work together on regulatory and licensing activities. The companies also plan to formalize their relationship with definitive agreements.
Residents living near Digihost’s North Tonawanda Plant in New York have raised concerns to local media over noise and emissions from the facility.
Digihost Technology Inc. develops data centres to drive the expansion of sustainable energy assets.
Nano Nuclear Energy Inc. is an early-stage nuclear energy company. The company is focused on developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs.
Digihost Technology stock (TSXV:DGHI) opened trading down more than 7 per cent at C$2.63 but has climbed 48.78 per cent higher over the past three months.
Nano Nuclear Energy stock (NASDAQ:NNE) opened trading nearly 3 per cent higher at C$32.75 and has risen 59.46 per cent over the past three months.
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