Validus Power Corp. Announces Power Expansion In Canada

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TORONTO and CALGARY, AB, June 29, 2021 /PRNewswire/ - Validus Power Corp. (VPC), a leading energy developer with over 500MW developed to date, has solidified financing and supply chain agreements to execute on power expansion to exceed 2GW in the coming 24 months in the Provinces of Alberta and Ontario.  The power will be made available in phases, and is being dedicated to serve the fast growing Bitcoin and Blockchain mining community, high performance compute and hyperscale data center markets.

VPC's newest site which is being energized mid Q4 of this year, has been dedicated to Hut 8 (TSE:HUT, NASDAQ:HUT), a leading Bitcoin miner, and with whom an announcement earlier this year was made to expand another 100+MW.  An additional 1.9GW is currently being developed in the Province with energization to begin early Q1 2022.  This project will create jobs for a skilled labor force and significantly contribute to the local economy. 

In addition to the Alberta market, VPC has acquired two 45MW combined cycle power plants in Ontario for a total of 90MW, offering some of the most competitive energy rates in the country.  These sites can expand to a combined 150MW. 

"Validus continues to grow our portfolio of responsible and efficient energy projects not only in Canada but also in certain areas in the United States", says Todd Shortt, President and CEO of VPC.  "Global energy supply and demand, and therefore prices, for the foreseeable future are quite unpredictable in their traditional consumption and delivery models.  We have been working toward mitigating these variables for years with project lifecycles now commercially available to the markets we serve".

About Validus Power Corp.
Validus is a global leader in advanced power solutions and lifecycle management working with industry, communities, and energy markets. By emphasising sustainable innovation and total efficiency, Validus maximizes the environmental and economic performance of next generation power plants

SOURCE Validus Power Corp.