SATO Technologies Signs Letter of Intent with Bhutan's Gelephu Mindfulness City Authority to Develop a Hydro-Powered Sovereign AI Compute Campus

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Harnessing Bhutan's hydroelectric power to serve surging AI compute demand in India, the Project targets an estimated 100 MW of renewable-powered AI infrastructure, scalable to an estimated 500 MW, extending SATO's Québec hydro model internationally. Toronto, Ontario--(Newsfile Corp. - July 6, 2026) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) ("SATO" or the "Company") today announced that it has signed a letter of intent, with an effective date of June 20, 2026 (the "LOI") with the Gelephu Mindfulness City Authority (the "GMCA"), the governing and regulatory authority of the Gelephu Mindfulness City Special Administrative Region (the "GMC") in the Kingdom of Bhutan, to develop a renewable-energy-powered, phased AI data centre campus (the "Project"). The LOI establishes a framework for the parties to negotiate definitive agreements covering power, site development, project structure, early works, financing and commercial offtake (the "Proposed Transaction"). The signing of the LOI marks SATO's strategic expansion into sovereign AI compute alongside its existing operations in Québec. The Project is anticipated to create a large-scale AI infrastructure anchored in reliable domestic renewable power and developed in partnership with the GMCA, pairing Bhutan's hydroelectric resources with demand for advanced AI infrastructure originating in South Asian and Indian markets. Pursuant to the LOI, GMC will reserve 100MW of firm power for the Project, subject to an initial development phase of 5 MW, with a potential expansion pathway to 500MW. Additional commercial terms customary for transactions such as the Proposed Transaction will be finalized in binding definitive agreements (the "Definitive Agreements") within 12 months following the signing of the LOI. Bhutan is amongst the world's few carbon-negative countries, and generates all its electricity through renewable sources, primarily from hydropower. It is also, according to IMF projections, one of the fastest-growing economies in the world. At the same time, India is one of the world's fastest-growing AI markets, yet domestic data-centre expansion is increasingly constrained by power availability and multi-year grid timelines.[1] Sited directly across the border in the GMC and powered by clean hydroelectricity, the Project is anticipated to deliver low-latency AI compute to India's major demand centre...

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