On May 26, 2026, Hydro Data Limited entered into an agreement with CEWA Group ("CEWA") and Guofu Hydrogen Energy, for the development of an integrated energy solution for a 100MW intelligence data center ("IDC") project in Rayong, Thailand (the "IDC Agreement").

 

Pursuant to the IDC Agreement, Hydro Data Limited, as the comprehensive energy solution provider ("Hydro Data"), will work with CEWA, as the regional infrastructure developer, and Guofu Hydrogen Energy, as the hydrogen systems provider, to execute the project with a phased deployment structure, beginning with a 3MW pilot project in Rayong, Thailand by the end of 2026 to validate the technology and economics and to establish a framework for deploying integrated hydrogen-based and clean energy solutions for large-scale digital infrastructure, with potential to scale up to 100MW.

 

Through the project contemplated in the IDC Agreement, the Company expects to facilitate its expansion into comprehensive energy solutions for IDCs in Southeast Asia and anticipates such project to provide the Company exposure to Thailand's growing data center market. The Company believes that the data center market in Thailand , which is presently driven by digital economy initiatives and grid constraints, may provide recurring revenue opportunities relating to system design, equipment supply, installation, operations and maintenance, fuel supply, and energy management.