Technology
Chulalongkorn University’s Engineering Prepares for “SMRs”–Newer, Safer Small Nuclear Power Plants for Clean Energy in Thailand
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2 months agoon
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BANGKOK, April 21, 2026 /PRNewswire/ — Chulalongkorn University aims for carbon neutrality, promotes knowledge in nuclear energy and Small Modular Reactor (SMR) technology, safer small-scale nuclear power plants with zero carbon emissions, preparing personnel to drive the nation toward energy security and enhance future economic competitiveness.
Many countries around the world are accelerating their transition toward carbon neutrality while simultaneously strengthening energy security. Solar, wind, and hydropower are clean energy sources that have attracted significant attention, with continuous advancements in technology. Another indispensable high-efficiency clean energy source that does not emit greenhouse gases is nuclear power.
Today, the global nuclear energy trend is moving toward small nuclear power plants, or Small Modular Reactors (SMRs), which feature more advanced technology, enhanced safety, and greater flexibility in deployment. At present, there are two operational SMRs in the world, located in China and Russia. However, within the next five years, additional SMRs are expected to be developed in several countries, including China, Russia, Canada, and the United States.
For Thailand, the latest draft of Power Development Plan (PDP) 2024 mentions the consideration of SMRs as a future energy option. Thailand has long demonstrated readiness in terms of personnel and nuclear expertise, developed over several decades by the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, the only institution in Thailand that offers education in nuclear engineering.
Half a Century of Thailand’s Nuclear Energy
Nuclear energy is not new to Thai society; rather, it has been around for over half a century. Assoc. Prof. Nares Chankow, a lecturer in the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, explained that Thailand began discussing nuclear energy as early as 1966. In 1967. A ten-member subcommittee was formed to conduct a feasibility study in various aspects, including personnel training.
“Early preparations for nuclear energy were carried out seriously and systematically. Several potential sites were surveyed, and the conclusion was to designate Ao Phai in Si Racha District, Chonburi Province, as the location for Thailand’s first nuclear power plant. This plan was approved by the Atoms for Peace Committee, which was chaired by the Prime Minister at that time,” he said.
This project is also regarded as the starting point for the establishment of the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University.
“In 1970, Chulalongkorn University established the Nuclear Engineering School, initially focusing on training personnel from the Office of Atoms for Peace. In 1971, professors from the United States assisted in developing the curriculum. By 1972, the university launched a Graduate Diploma program and a Master of Engineering program in Nuclear Technology. In the early period, before a formal department existed, the program was administratively housed within the Department of Sanitary Engineering—now known as the Department of Environmental Engineering and Sustainability. It was not until 1974 that the Department of Nuclear Technology was officially established, marking the beginning of nuclear engineering education in Thailand. The department was later renamed the Department of Nuclear Engineering to align with other departments within the Faculty of Engineering,” Assoc. Prof. Nares said.
Over the past 50 years, the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, has played a key role in producing skilled personnel and continuously advancing knowledge in the field, even during periods when nuclear power plant projects were put on hold.
“The key factor that first led to the slowdown of the project was the discovery of natural gas resources in the Gulf of Thailand around 1977. At the time, it was estimated that these natural gas reserves would last for at least 40 years, and even today, nearly 50 years later, they are still being utilized. As a result, the government decided to postpone nuclear power projects. Discussions about nuclear power plants tend to resurface periodically during times of energy crises.”
In addition to the availability of natural gas, another major obstacle to nuclear power development has been public understanding and acceptance. This challenge has been intensified by news of major accidents at large-scale nuclear power plants, such as the Chernobyl nuclear reactor explosion in Ukraine in 1986, or more recently, the Fukushima Daiichi nuclear disaster in Japan in 2011, which was triggered by a tsunami. Such events heightened public fear and uncertainty, leading to stronger opposition to the construction of nuclear power plants.
“Every time we are about to move forward with a project, an incident occurs that makes nuclear energy look bad—whether it’s Chernobyl or Fukushima. These events frighten people and cause projects to stall,” Assoc. Prof. Nares said, drawing a parallel with the criticism surrounding the Chula Tunnel, which has now been in use for over 40 years. “When the tunnel was first built, there was heavy criticism—people said it would be dangerous, that it would flood, that the road would collapse. Anything new, unfamiliar, or not well understood naturally causes fear. What we need to do is communicate accurate information about nuclear energy to the public as clearly as possible.”
Small Modular Reactors (SMR): The Future of Energy Security
Efforts by many countries around the world to achieve Net Zero targets have brought nuclear energy back into focus. This time, however, attention is not on large-scale nuclear power plants, such as those associated with past disasters and media headlines, but rather on a new hope for the global energy sector: Small Modular Reactors (SMRs).
“SMRs are modern nuclear power plants with a generating capacity of no more than 300 megawatts, which is much smaller than conventional nuclear power plants that typically have a capacity of around 1,000 megawatts,” explained Assoc. Prof. Dr. Somboon Rassame, Head of the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University.
At present, there are only two SMR facilities in actual operation worldwide. The first is in Russia, where the reactors are installed on a ship with a total generating capacity of 2 × 35 megawatts and have been in operation since 2020. The second is in China, with a generating capacity of approximately 210 megawatts, supplying electricity to the public since 2021.
“At present, there are several SMR power plant projects under construction. China, for example, is building one additional unit, which is expected to be completed by the end of this year. Canada has begun construction on four units, and the United States is preparing multiple sites for future construction,” Assoc. Prof. Dr. Somboon Rassame said. He anticipates that by the end of 2030, several SMRs will be in operation worldwide.
As for Thailand, after signing the NDC 3.0 (Nationally Determined Contribution), a commitment to reduce carbon dioxide emissions to achieve carbon neutrality by 2050 and net-zero greenhouse gas emissions by 2065, nuclear power projects have once again become a prominent topic in national development planning.
In the country’s energy security master plan—the latest 2024 draft of Thailand’s Power Development Plan (PDP) prepared by the Energy Policy and Planning Office (EPPO)—small nuclear power plants (Small Modular Reactors: SMRs) are being considered as a potential future option. The plan includes two SMR units, each with a capacity of approximately 300 megawatts, to be located in the northeastern and southern regions of Thailand, with operations expected to begin by 2037.
“Due to pressure from the global community regarding carbon emissions, Thailand has very limited options. In the future, everyone will be closely scrutinized over where their electricity comes from; if it is still generated from carbon-emitting sources, additional carbon taxes will be imposed,” Assoc. Prof. Dr. Somboon Rassame said. “Relying solely on renewable energy may not yet be sufficient and poses risks to the country’s electricity security. Wind and solar power have limitations in terms of continuity, while the use of battery storage increases costs. Natural gas and coal still emit large amounts of carbon. As a result, Thailand must now turn to alternative energy sources that can ensure safety and produce no carbon emissions.”
SMRs: A Leap Forward of Nuclear Technology for Enhanced Safety
Assoc. Prof. Dr. Somboon noted that SMRs offer several advantages, the first of which is flexibility. “If a large nuclear power plant is built, we must be confident that the area has sufficiently high electricity demand. However, SMRs can be built in medium-sized communities, on islands, or in industrial estates. Most importantly, SMRs allow additional generating units to be added in line with growing demand. For example, a project could begin with 100 megawatts in the first five years, and when demand increases, another 200 megawatts can be added. This offers greater flexibility and better supports economic growth than large power plants, which require a massive one-time investment.”
The most significant advantage of SMRs is their newly developed safety systems. Assoc. Prof. Dr. Somboon explained that nearly all SMR designs feature self-reliant safety systems that do not depend on external power supplies. Even in the event of a disaster or emergency where the plant will automatically shut down, the SMR’s safety systems will operate independently to safely bring the reactor to a halt. Emergency cooling in SMRs is also designed to be simpler and more self-sustaining, relying on natural cooling principles such as fluid circulation and gravity, rather than large volumes of coolant or water as required by large-scale plants. This significantly reduces the risk of reactor core meltdown and the release of radioactive materials into the environment, as occurred during the Fukushima nuclear accident in Japan in 2011.
3 Key Advantages of SMRs and Issues Requiring Careful Preparation
Assoc. Prof. Dr. Somboon Rassame outlined the advantages of SMRs in three main points as follows:
Safety: All 3 nuclear power plant accidents that have occurred worldwide involved plants built in the 1970s—more than 50 years ago. Since then, nuclear technology has advanced significantly. SMRs are equipped with passive safety systems that operate automatically without relying on external power sources. Even in the event of a disaster or power outage, the reactor can safely shut itself down. In addition, the smaller size of SMRs makes them easier to control and manage. Economics: The initial investment required for SMRs is lower than that for large-scale power plants, and they offer high flexibility. SMRs can be installed in remote areas, on islands, or in industrial estates that large power plants cannot easily reach. Moreover, generating units can be added according to demand, eliminating the need for a massive one-time investment. Environment: SMRs do not emit significant amounts of carbon dioxide throughout the operational lifetime of the plant. This helps Thailand achieve its Net Zero goals more quickly and effectively, while also providing a more reliable energy source than other forms of renewable energy.
Although SMRs are smaller than conventional nuclear power plants, they still raise the same issue of radioactive waste. Therefore, Thailand needs to develop concrete plans for managing radioactive waste in the future in accordance with international standards, while also building public confidence that the country has safe, transparent, and verifiable systems for the storage and disposal of waste from SMRs.
SMRs: Costs and Cost-Effectiveness
One of the questions the public is most interested in is, “If SMRs are introduced, will electricity prices become cheaper?”
Assoc. Prof. Dr. Somboon Rassame addressed this issue by saying, “SMRs are like any new product—much like when new smartphone models are first released. Naturally, the price will not be low at the beginning, but as more people use them, prices should decrease according to market mechanisms.”
Importantly, he emphasized that cost-effectiveness should not be assessed based on price alone, but should also take into account several key advantages, including:
Energy security – SMRs can generate electricity continuously 24 hours a day and are not dependent on weather conditions, unlike solar and wind energy. Carbon-free electricity generation – This helps the country avoid carbon taxes and maintain its competitiveness in terms of economic growth and investment. Flexibility – SMRs can be installed in remote areas and allow generating capacity to be expanded in line with demand.
ASEAN Moves Toward Nuclear Energy: Where Does Thailand Stand?
“At present, there are only two SMRs in operation worldwide, with another four to five projects beginning construction. Thailand does not plan to deploy SMR nuclear power plants this year or next year; according to current plans, implementation would be around 12 years from now. By that time, it is expected that SMR adoption will have increased globally, leading to lower costs and more reasonable pricing, making them more competitive with other types of power plants.”
Several neighboring countries are moving forward with nuclear energy projects in earnest. Assoc. Prof. Dr. Somboon Rassame noted that Vietnam has made more progress in developing nuclear power plants than Thailand, largely due to strong government support and direct endorsement from its leader. Indonesia is also advancing seriously, having built a solid research foundation related to nuclear power over many years. The country has developed its own nuclear fuel and plans to commission its first nuclear power plant by 2032. Meanwhile, the Philippines has plans to construct nuclear power plants, including SMRs, by 2033–2034.
“It is clear that many countries in this region are about 5 years ahead of Thailand. Therefore, if Thailand delays its decision to move forward with such projects, it will lose its competitive edge. This competition is not only about technology but also about the ability to attract investment. Countries that can produce clean, carbon-free energy are more likely to attract investors, especially in industries such as AI and data centers, which consume enormous amounts of electricity and require clean energy,” Assoc. Prof. Dr. Somboon explained.
Chula as a Knowledge and Workforce Hub: Preparing for SMRs
Establishing a nuclear power plant is not a simple undertaking, especially for countries that have never had one before. Assoc. Prof. Dr. Somboon Rassame explained that, according to International Atomic Energy Agency (IAEA) standards, countries without prior experience in nuclear power must spend at least 10–12 years on preparation. This readiness process must cover 19 key areas, such as: 1) human resources – sufficient numbers of well-trained engineers and experts; 2) laws and regulations – appropriate legal frameworks for regulation and oversight; 3) management planning – emergency preparedness plans and spent fuel management plans; 4) financing – clear financial support from the government.
“Having a nuclear power plant is not easy—it’s not something you decide today and purchase tomorrow. A country must demonstrate its capabilities and gain acceptance from the international community, nuclear power plant businesses, and IAEA, showing that it is truly ready to implement an SMR nuclear power project. The Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, has long played a key role in preparing the country in the nuclear field, particularly through the development of skilled human resources.”
“Whether or not there is a nuclear power plant project, the department continues to offer courses and conduct research. If we were to close the department or suspend teaching and research, the body of knowledge and expertise in nuclear engineering would be disrupted, and restarting would not be easy. Chulalongkorn University is a key institution for producing engineers, researchers, and specialists specifically in nuclear engineering. At present, many universities are beginning to show interest in establishing nuclear engineering programs, and Chulalongkorn University is ready to provide guidance and support in developing curricula to strengthen the country’s capacity for workforce development in nuclear power,” he said.
At present, the department is involved in preparing the country for nuclear engineering readiness through multiple channels.
Training programs – Short-term training courses of 18 hours are offered to the Electricity Generating Authority of Thailand (EGAT) and several private energy companies. This year, approximately 3-4 courses have already been conducted, with about 50 participants per cohort. Graduate production – The department has offered bachelor’s, master’s, and doctoral degree programs in nuclear and radiation engineering since 1972. To date, several hundred students have graduated at the master’s and doctoral levels. Academic services – The department provides consultation to private companies and government agencies on site selection, suitability assessments, project planning, and the selection of appropriate technologies.
Nuclear in Daily Life
Whether or not nuclear power plants are built, nuclear and radiation technologies have long been part of everyday life. Assoc. Prof. Nares explained this with several interesting examples, such as:
Medical applications – King Chulalongkorn Memorial Hospital is equipped with a proton therapy machine that uses radiation to treat cancer. This technology can deliver highly precise radiation to targeted areas, minimizing damage to surrounding organs compared with conventional radiation therapy. Food and pharmaceutical industries – Gamma irradiation is used to sterilize a wide range of products, from herbal inhalers that are currently gaining popularity to fermented pork, fruits, exported animal feed, syringes, and saline IV tubes used in hospitals. All of these products must undergo irradiation to eliminate pathogens. Quality control – In beverage manufacturing plants, radiation is used to measure liquid levels in bottles to ensure consistent volumes. In military weapons factories, X-rays are used for quality inspection. Even some brands of toothpicks undergo irradiation to prevent contamination.
“The Department of Nuclear Engineering at Chulalongkorn University has produced a large number of professionals who work across various industries. Therefore, even without nuclear power plants, nuclear knowledge is highly beneficial to society,” stated Assoc. Prof. Nares.
Rare Earth Elements and Nuclear Technology
Assoc. Prof. Nares further explained that another interesting dimension is the relationship between nuclear technology and rare earth elements, which are critical raw materials for modern technologies such as smartphones, electric vehicles, computer equipment, drones, and various electronic devices.
“Rare earth elements often contain traces of radioactive materials, so nuclear techniques can be used for exploration and analysis. In addition, there are many nuclear-based techniques that can be applied to survey, identify, and quantify rare earth elements. In the past, the Office of Atoms for Peace had a rare earth minerals project and even designed a processing plant, but the project was halted. It is not too late to resume development, as rare earth minerals are extremely important for high-tech industries,” he said.
Public Acceptance Is the Key to Success
Although SMRs offer many advantages and align well with energy security needs and Net Zero goals, they also present challenges that must be addressed. These include the country’s clarity and commitment in moving forward with such projects, the establishment of regulatory organizations and legal frameworks, and the development of qualified personnel—particularly as current enrollment in nuclear engineering programs remains insufficient. Most importantly, public acceptance is a critical factor.
The Fukushima nuclear power plant accident in 2011 may have reduced public acceptance of nuclear energy. However, Assoc. Prof. Dr. Somboon Rassame observed that over the past 3-4 years, as more information about SMRs has been disseminated, public opinion on social media has begun to shift. Many people now view SMRs as a newer, more advanced, and safer technology, with younger generations in particular showing a growing willingness to accept this form of energy.
“The role of educational institutions is to provide the public with clear and straightforward information about what this technology is, how it has been developed and improved, and how likely accidents are compared with nuclear power plants in the past. Institutions must present both the advantages and the limitations in a comprehensive manner. Once the public has been fully informed, the decision belongs to the people, and we must all accept the outcome,” Assoc. Prof. Dr. Somboon concluded.
“I would like to urge national leaders to allow qualified experts in nuclear engineering and nuclear technology to lead and manage the country’s key nuclear agencies, including the Office of Atoms for Peace (OAP) and the Thailand Institute of Nuclear Technology (TINT). This would allow our country to fully enter an era in which nuclear technology can be applied to national development across many sectors—energy, industry, agriculture, the environment, materials, and beyond,” Assoc. Prof. Nares added in closing.
Small Modular Reactors (SMRs) represent a significant opportunity that Thailand should prepare for. With greatly advanced technology, superior safety systems, installation flexibility, and, most importantly, carbon-free electricity generation, SMRs offer strong potential. Backed by more than half a century of accumulated commitment, knowledge, and experience, the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, stands ready to play a role in advancing the country’s opportunity to achieve sustainable energy security.
In approximately 12 years, Thailand plans to begin operating its first SMR capable of actual electricity generation. Clean energy for a new era is within reach, and Thailand is preparing to move confidently toward that future.
Find more information on the Department of Nuclear Engineering, Faculty of Engineering, Chulalongkorn University, on Facebook: Nuclear Engineering, Chulalongkorn University
Continue reading a full article on the website: https://www.chula.ac.th/en/highlight/286177/
About Chulalongkorn University
Chulalongkorn University has made the world’s top 50 university list for employment outcomes, which reflects both the high employment rate and work ability of Chula graduates. The university is also listed as the best in Thailand for the 15th Consecutive Year (since 2009), according to the newly released QS World University Rankings 2024, putting Chula at 211th in the world, up from 244th last year.
Social Media:
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Linkedin: https://www.linkedin.com/school/15101896/
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SOURCE Chulalongkorn University
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OceanaGold Reports Voting Results from its 2026 Annual Meeting of Shareholders
Published
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VANCOUVER, BC, June 9, 2026 /PRNewswire/ – OceanaGold Corporation (TSX: OGC) (NYSE: OGC) (“OceanaGold” or the “Company”) is pleased to report the voting results from the Annual General and Special Meeting of Shareholders of the Company (the “AGM”) held today.
A total of 184,072,822 common shares of the Company were represented in person or by proxy at the AGM, representing 82.06% of common shares outstanding as at the record date. Shareholders voted in favour of each of the items of business at the AGM.
Each of the director nominees listed in OceanaGold’s Management Information Circular dated April 23, 2026 was elected as a director of the Company to hold office for the ensuing year or until their successors are elected or appointed. Detailed results of the vote for each director are set out in the table below:
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Votes For
%
Votes Withheld
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Paul Benson
132,452,772
77.70
38,003,874
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Ian M. Reid
169,552,116
99.47
904,530
0.53
Craig J. Nelsen
169,280,303
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Sandra M. Dodds
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98.01
3,399,081
1.99
Alan N. Pangbourne
170,267,931
99.89
188,715
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303,118
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Stefanie E. Loader
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99.40
1,024,524
0.60
Gerard M. Bond
170,272,112
99.89
184,534
0.11
PricewaterhouseCoopers LLP was appointed as the auditor of the Company to hold office until the close of the next annual meeting of shareholders or until its successor is appointed, at a remuneration to be fixed by the directors of the Company.
Votes For
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Votes Withheld
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180,933,130
98.29
3,139,692
1.71
A non-binding resolution on the Company’s approach to executive compensation was approved.
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Votes Against
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165,775,649
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4,680,997
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A resolution to hold the Company’s 2027 annual general meeting of shareholders in a virtual-only format was approved.
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106,379,295
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64,077,351
37.59
About OceanaGold
OceanaGold is a global intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines.
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AI Engines Trust Hermès, Rolex, Chanel and Ferrari Most — 5W and Haute Living Release The AI Luxury 25
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The full study, ranked tables, and methodology are available at https://www.5wpr.com/ai-visibility-index/ai-luxury-25-2026/
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Haute Living is the luxury lifestyle media brand covering the people, places, and brands defining the global luxury economy. Learn more at hauteliving.com.
About 5W AI Communications
5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research, helping clients measure and grow their presence in AI-driven buyer research.
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Hut 8 Closes $4.25 Billion of Investment-Grade Senior Secured Notes for Beacon Point Data Center Project
Published
33 minutes agoon
June 9, 2026By
Hut 8’s second investment-grade data center construction bond — fully amortizing, non-recourse, and non-dilutive — rated Baa2 and priced 20 basis points inside the River Bend notes issuance spread
Substantially oversubscribed, broadening Hut 8’s institutional credit investor base and bringing cumulative project-level, investment-grade data center construction financing to $7.5 billion
MIAMI, June 9, 2026 /PRNewswire/ — Hut 8 Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the closing of a $4.25 billion offering (the “Offering”) of 6.129% senior secured notes due 2042 (the “Notes”) issued by its wholly-owned subsidiary, Beacon Point DC LLC (the “Issuer”). The Notes are rated Baa2 by Moody’s Ratings, one notch above the BBB− assigned by S&P Global Ratings and Fitch Ratings to Hut 8’s River Bend financing in April 2026.
The Issuer intends to use the proceeds from the Offering to (i) finance (1) the development and construction of a turnkey data center, comprising six data halls with a combined total of 352 megawatts of critical IT capacity, to be built on an approximately 521-acre property in Nueces County, Texas and (2) the construction of the substation located on the property, which data center facility will be leased to a tenant that is a high-investment-grade company (i.e., rated AA− or higher) as of the date hereof pursuant to the data center lease agreement, (ii) fund debt service reserves, and (iii) pay fees and expenses in connection with the Offering.
Offering Highlights
Demonstrates the repeatability of an investment-grade financing model that preserves balance-sheet strength: The Offering marks the second execution of a financing model that is non-recourse to Hut 8, fully funded at the project level, and non-dilutive to existing shareholders, with no expected equity issuance by Hut 8 to fund the project. The fully amortizing structure eliminates refinancing risk at the project level, while its non-recourse profile allows Hut 8 to maintain zero recourse debt at the parent level, leaving its balance sheet unconstrained.Reflects disciplined, first-principles execution marked by improved rating, pricing, and scale: The Offering improves upon the first execution of the model at River Bend across rating and spread. At T+165 basis points, the Notes priced 20 basis points inside the River Bend notes issuance spread. These terms establish the Offering as the largest, tightest-priced, and highest-rated investment-grade bond issued to date in a single-sponsor data center construction financing. Across successive executions, this progression supports Hut 8’s pursuit of a corporate investment-grade profile.Confirms broadening institutional endorsement of Hut 8’s development financing model: Investor demand validates Hut 8’s model of financing investment-grade, construction-stage development. The Offering was substantially oversubscribed and attracted both repeat investors and new investors who did not participate in the River Bend offering, broadening Hut 8’s institutional credit investor base. Together, River Bend and Beacon Point represent $7.5 billion of investment-grade capital raised for construction-stage data center development, a credit standard rarely achieved prior to commercial operations.
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Sean Glennan, CFO of Hut 8, said: “The hallmark of this financing model is repeatability. What enables us to deliver superior outcomes over time, however, is rigor of execution. Each term of the Offering was structured from first principles rather than inherited from the prior offering. Beacon Point improves on River Bend across key financing metrics, including rating and spread. We intend to bring that same discipline to future transactions.”
J.P. Morgan acted as lead bookrunner for the Offering. Goldman Sachs & Co. LLC acted as a bookrunner for the Offering.
About Hut 8
Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.
Cautionary Note Regarding Forward-Looking Information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the anticipated use of proceeds from the Offering, the development and construction of the Beacon Point project, the expected benefits and repeatability of the Company’s financing model, the Company’s pursuit of a corporate investment-grade profile, the Company’s development pipeline, and the Company’s future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “allow,” “believe,” “estimate,” “expect,” “predict,” “can, “might,” “potential,” “is designed to,” “likely,” or similar expressions.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law.
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SOURCE Hut 8 Corp.
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