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NU E Power Corp. Announces Leadership Transition, Board Changes and Closing of the Acquisition of 500 MW of Power Assets from ACT Mid Market Ltd. Surpasses 1 GW Milestone with Global Hybrid Portfolio
Newsfileยท 2025-11-25 14:15
Core Insights - NU E Power Corp. has successfully closed the acquisition of approximately 500 MW of hybrid power assets from ACT Mid Market Ltd., surpassing its target of 1 GW of secured global power capacity [1][8] - The company is positioned to meet the growing demand from AI hyperscalers, Bitcoin mining, and traditional grid customers, establishing itself as a rapidly scaling power platform [1][7] Acquisition Details - The acquired portfolio includes strategic hybrid sites across North America, Asia, South America, and Africa, with a flagship asset being the Dakhan Hybrid Energy & Data Complex in Mongolia [2] - The acquisition enhances NU E's diversified, multi-continental footprint, allowing it to supply reliable power regardless of end-use load [2] Leadership Changes - Broderick Gunning has been appointed as President, CEO, and Director, bringing two decades of experience in energy and digital infrastructure [3] - Frederick Stearman has been appointed Chief Technology Officer, while Bold Batsukh has been appointed Director - Asia, contributing regional expertise [4] Shareholder Changes - Following the acquisition, Brodie Gunning will control approximately 14% of the issued and outstanding voting securities of the company, increasing his stake significantly [10] - Samuel Kyler Hardy has resigned from the Board, with the company expressing gratitude for his contributions [5] Future Outlook - The company aims to accelerate towards its next target of 2 GW by 2027, indicating a strong growth trajectory [7] - NU E is described as a vertically integrated, load-agnostic power developer with over 1 GW of secured hybrid capacity across four continents [11]