GridAI Technologies (NASDAQ: GRDX) announced a definitive share exchange agreement to acquire Pronghorn Resources LLC, a natural gas production and energy infrastructure company operating in Wyoming’s Powder River Basin. The acquisition would establish a vertically integrated platform to supply dedicated power and infrastructure to artificial intelligence (“AI”) and hyperscale data centers. Pronghorn’s assets include approximately 100 million cubic feet of daily natural gas production, nearly 2 trillion cubic feet of estimated reserves, approximately 1 million acres of mineral and leasehold interests and more than 450 miles of pipeline infrastructure. The existing infrastructure represents approximately $1.7 billion in historical capital expenditures. GridAI plans to leverage these assets to develop dedicated natural gas-fired power generation, targeting initial electricity delivery in 2027 and phased expansion to support larger AI computing campuses.
In connection with the acquisition, GridAI also entered into an agreement to acquire exclusive Wyoming development rights for FANCO’s Bridge Power platform, which is designed to support near-term electricity generation and potential future integration of small modular nuclear reactors. The company also intends to evaluate carbon capture and geological sequestration opportunities within the Powder River Basin. Under the transaction terms, Pronghorn members will receive GridAI common and convertible preferred shares, subject to applicable approvals and adjustments. The acquisition is expected to close on or before Nov. 22, 2026.
To view the full press release, visit https://ibn.fm/7wiqY
About GridAI Technologies Corp.
GridAI Technologies Corp. (Nasdaq: GRDX) is developing a vertically integrated energy and infrastructure platform designed to support the expanding power requirements of artificial intelligence, high-performance computing, and hyperscale data centers.
Through its Wyoming operations, the Company seeks to combine natural gas production, dedicated electric generation, land, water, and existing infrastructure to accelerate the deployment of large-scale American AI infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to GRDX are available in the company’s newsroom at https://ibn.fm/GRDX
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