Marwynn Holdings, Inc. (NASDAQ: MWYN) announced that it has entered into a non-binding Memorandum of Understanding with Grenada National Resort to evaluate the development of the NexaCore AI & Renewable Energy Infrastructure Campus, a proposed solar power plant and artificial intelligence data center on land within or associated with the Resort in Grenada. Marwynn's wholly-owned subsidiary, NexaCore Technologies, Inc., will lead project development, technology implementation, and day-to-day execution under Marwynn's oversight.

Agreement Targets Integrated Solar and AI Infrastructure in Grenada

The MOU gives NexaCore, which Marwynn formed in April 2026 to develop AI computing infrastructure and technical services, a specific site and a land partner to evaluate.

The proposed campus would pair on-site solar generation and battery storage with GPU-based computing capacity, with the solar plant intended to supply the data center's power needs and, where commercially viable, sell surplus energy. The campus is intended to serve regional and international customers and may become a base for Marwynn's broader international business.

The Resort, described as a government-supported tourism and investment project in Grenada, intends to contribute or otherwise make land available for the project and to help coordinate with Grenadian authorities, utilities, and regulators.

CEO Cites Power Supply as Central Constraint

"Power supply is the hardest constraint in AI infrastructure. In Grenada, we have a land partner and a site where we can evaluate building generation and computing capacity together, sized to each other from the start," said Ms. Yin Yan, CEO of Marwynn Holdings. "The MOU gives us 24 months of exclusivity to test that model through land, grid, and connectivity studies before we commit capital."

Ms. Yan also tied the agreement back to the subsidiary's founding. "When we formed NexaCore in April, we described it as a measured step that would grow with the capital and equipment available to us," she said.

"Grenada is the first site where we can put that plan to work. We intend to develop the campus in phases, size each phase according to feasibility studies and financing support, and use it to serve AI customers in regional and international markets."

Scope of Potential Cooperation

The MOU sets out a broad framework that the parties intend to refine through feasibility work and definitive agreements, with final capacity, site configuration, and commercial structure to be determined after technical and feasibility studies.

On the energy side, the areas under evaluation include development, financing, construction, ownership, and/or operation by NexaCore of a solar photovoltaic generation facility in Grenada as a commercial infrastructure asset. Battery energy storage and energy management systems would balance solar output with the data center's power demand. Substations, interconnection facilities, and transmission infrastructure would be coordinated with local utilities and remain subject to their approval.

The parties also contemplate sales of power not needed by the data center through offtake arrangements or other commercial structures, where viable and agreed with the relevant parties.

On the computing side, the evaluation covers GPU and high-performance computing infrastructure, which Marwynn may source directly or through NexaCore from leading technology providers, subject to commercial availability, financing, customer requirements, and definitive technology arrangements. Proposed services include AI training and inference capacity, cloud and hosting services, and data storage for regional and international customers, along with cybersecurity, cooling systems, and supporting technology infrastructure suited to international commercial operations.

The framework envisions an integrated design in which the solar plant and data center operate as complementary parts of one renewable-powered platform, while Marwynn retains flexibility to structure and operate each component separately where commercially appropriate.

Site, Connectivity, and Government Coordination

Site-related work under evaluation includes identification and reservation of land within or associated with the Resort, including review of acreage, boundaries, title, permitted use, development rights, access, and utilities.

Telecommunications and international connectivity planning would proceed with the Resort's facilitation, alongside grid, interconnection, access roads, and related site infrastructure. The parties will also consider potential shared infrastructure between the campus and the wider Resort development, subject to technical and commercial feasibility.

The Resort would coordinate with relevant Grenadian ministries, agencies, regulators, and utilities using commercially reasonable efforts, and would assist with applications for permits, licenses, and approvals.

The framework also contemplates coordination on investment incentives, concessions, or other benefits that may be available to the project under Grenadian law, as well as support with workforce, immigration, and specialized personnel planning.

The MOU explicitly states that any governmental approval, incentive, or commitment for the project remains subject to Grenadian law and action by the competent authority, and that the agreement does not represent that the Resort can bind the Government of Grenada or any governmental authority.

Local Participation and Workforce Development

The MOU also contemplates local employment and procurement, including participation by qualified Grenadian businesses and professionals where commercially reasonable.

Workforce development would be tied to campus construction and operations, and the parties envision training, technology transfer, and collaboration with local institutions in AI, data center operations, renewable energy, and other advanced technologies.

Indicative Scale and Next Steps

Under the key terms disclosed, the parties contemplate an aggregate project scale of approximately US$500 million across the solar and data center components, with no predetermined split between them. The figure is described as a planning estimate only and not a commitment by Marwynn.

The 24-month exclusivity period referenced by Ms. Yan is intended to allow the parties to test the model through land, grid, and connectivity studies before any capital commitment is made.

Final capacity, site configuration, and the commercial structure of the project will be determined following the technical and feasibility studies contemplated under the MOU.

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