Green AI Cloud, Inc. (the "Company"), a clean energy super compute AI platform in Europe, is positioned where accelerating AI data center demand meets a scarcity of power-secured capacity.

The Company is a pioneer in clean energy compute and its data centers are designed to run on renewable energy (solar, hydro and wind power). Excess heat from its operations can be converted into a heated liquid for industrial product manufacturing or into regional district-heating infrastructure, believed to result in a net-negative CO2 footprint.

The proposed business combination values the Company at a pre-money equity value of $300 million.

BROOKLYN, N.Y. and STOCKHOLM, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Green AI Cloud, Inc. ("Green AI Cloud" or the "Company"), an AI infrastructure company focused on designing, building, and operating high-performance AI data centers with a focus on environmental sustainability and data sovereignty, and Pioneer Acquisition I Corp (Nasdaq: PACH) ("Pioneer"), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive agreement (the "Business Combination Agreement") for a business combination (the "Transaction" or the "Business Combination") that would result in Green AI Cloud becoming a publicly traded company expected to list on the Nasdaq Stock Market LLC ("Nasdaq").