GlobeNewswire·Nov 10, 2026, 8:31 AM ET

AIB Advances CLT1 Delivery With Funded Prepayment and Executed Equipment Orders

AIB Data Centers Inc. funded prepayment obligations into escrow for its CLT1 campus & received its first construction draw.
The company executed purchase orders for backup generators, UPS systems & switchgear with deliveries scheduled to support the construction timeline.
CLT1 development aims to deliver 50 MW of critical IT capacity under a signed 12-year customer agreement.
Contracted sites across the portfolio are underwritten to approximately $90.5 million in projected annual stabilized net operating income (NOI) based on Year 5 of executed agreements.
Estimated total development costs range from $760 million to $780 million, including $630 million to $645 million in construction costs & $130 million to $135 million in land, contingency & financing costs.
On a 50 MW basis, development costs equate to approximately $15.2 million to $15.6 million per IT MW.
AIB focuses on 40–90 MW right-sized data centers to ensure delivery certainty amidst community scrutiny of utility bills, infrastructure, land use & quality of life.
The company plans to discuss CLT1 progress during its third quarter 2026 earnings call, with specific details to be announced separately.