Marwynn Holdings Signs Non-Binding MOU with Grenada National Resort to Evaluate Solar-Powered AI Data Center Campus

The arrangement provides site exclusivity for evaluation, but does not commit Marwynn to the approximately US$500 million planning estimate.

Rhea-AI Summary

Marwynn Holdings (NASDAQ: MWYN) signed a non-binding memorandum of understanding with Grenada National Resort to evaluate a solar-powered AI data center campus. The parties contemplate approximately US$500 million across solar and computing facilities, a planning estimate rather than an investment commitment; actual investment may be materially less or different.

Wholly owned NexaCore Technologies will lead development and feasibility work. The proposed campus combines solar generation, battery storage and computing capacity. The Resort intends to make land available, with its form, value and economic terms unresolved. The MOU provides 24 months of exclusivity. Marwynn plans phased development, but scope and timing depend on feasibility, financing, customer demand and land availability. Binding land, funding and construction obligations require definitive agreements; the project may not proceed.

4 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointGrenada National Resort MOU gives NexaCore a specific site and land partner to evaluate.
• Moderate point. Forward-looking: it has not happened yet and may not happen.24-month exclusivity prevents Resort negotiations for competing infrastructure projects without Marwynn's consent during the MOU term.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Resort support includes intended land access and assistance coordinating with authorities, utilities and regulators.
• Minor point. Forward-looking: it has not happened yet and may not happen.Phased campus development is planned, combining solar generation, battery storage and AI computing capacity.

Negative

• Moderate pointNon-binding MOU leaves land, funding and construction obligations dependent on definitive agreements that may not be signed.
• Moderate pointApproximately US$500 million is only a planning estimate; actual investment may be materially less or different.
• Moderate pointLand contribution terms, including form, value and any Resort economic interest, remain subject to due diligence.
• Minor point. Forward-looking: it has not happened yet and may not happen.Project scope and timing depend on feasibility, financing, market conditions, customer demand and land availability.
• Minor pointGovernment approvals and incentives require competent-authority action; the Resort cannot bind Grenada's government.
• Minor point. Forward-looking: it has not happened yet and may not happen.Either party may terminate on 30 days' written notice.

News Explained

The MOU’s stated 24-month exclusivity is not assured for the full period: either party may terminate on 30 days’ notice, and Marwynn may terminate immediately if it determines the project is infeasible.

Argus 15 min delay 31 alerts

+14.80% vs previous close $2.56 last price 5.0x rel. volume Open Argus

Details

Market move: MWYN +14.80% vs previous close. AI data center MOU

+13.8% Peak in 33 min

$2.11 – $2.56 Day Range

$51.70M Mkt Cap at Last Price

On Oct 28, the day this news came out, the latest delayed price for MWYN is 14.80% above the previous close. Argus tracked a peak move of +13.8% during the session. Our momentum scanner has recorded 31 alerts for this stock so far that day. The latest delayed price is $2.56. Relative volume is very high at 5.0x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Indicative project scale: Approximately US$500 million Exclusivity period: 24 months MOU term: 24 months +1 more

Indicative project scale

Approximately US$500 million

Planning estimate across solar and data center components; no predetermined split

Exclusivity period

24 months

Resort will not negotiate with third parties for similar infrastructure projects during the MOU term

MOU term

24 months

Unless extended or superseded by definitive agreements

Termination notice

30 days

Either party may terminate with written notice

Previous AI Reports

1 past event · Latest: Apr 23

Same Type 1 event

1. Apr 23

   NexaCore formation

   24h Move

   +23.0%

   Formed NexaCore to develop AI computing infrastructure and technical services.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gpu, solar photovoltaic, offtake arrangements, special-purpose vehicles

4 terms

gpu technical

"GPU and high-performance computing infrastructure"

A GPU (graphics processing unit) is a specialized computer chip designed to handle many calculations at once, originally for rendering images and video but now widely used for tasks like artificial intelligence, data analysis and high-performance computing. Investors watch GPU demand and prices because strong sales often signal growth for chip makers and their customers, affect profit margins and capital spending, and can forecast wider trends in gaming, AI adoption and cloud services.

solar photovoltaic technical

"solar photovoltaic generation facility in Grenada"

Solar photovoltaic is a technology that converts sunlight directly into electricity using panels made of materials that generate a flow of electrons when struck by light. For investors, it matters because photovoltaic systems create predictable, long-lived revenue or cost savings from producing power, and their economics—installation cost, efficiency, lifespan, and government incentives—drive returns much like the performance and upkeep of a factory determine its profit.

offtake arrangements financial

"through offtake arrangements or other commercial structures"

Offtake arrangements are contracts where a buyer agrees to purchase a company's future production or output—such as raw materials, energy, or manufactured goods—often before those goods are produced. They matter to investors because they create predictable revenue and reduce sales and price risk, making cash flow and project financing more secure; like a farmer pre-selling a crop to guarantee income, they can materially affect a company’s valuation and risk profile.

special-purpose vehicles financial

"through subsidiaries, affiliates, special-purpose vehicles, or joint ventures"

A special-purpose vehicle is a separate legal entity set up to hold specific assets or run a single project, kept legally and financially distinct from its parent company. It matters to investors because it isolates risk and liabilities—like putting a particular investment into a sealed box—so problems there may not directly affect the parent, but SPVs can also obscure exposure or create complex funding arrangements that influence transparency and valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NexaCore Technologies to lead feasibility work on a proposed solar power plant, battery storage, and AI data center in Grenada; MOU sets an indicative project scale of approximately US$500 million, subject to feasibility, financing, approvals, and definitive agreements

IRVINE, Calif., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Marwynn Holdings, Inc. (NASDAQ: MWYN) ("Marwynn" or the "Company") today announced that it has entered into a non-binding Memorandum of Understanding (the "MOU") with Grenada National Resort (the "Resort") to evaluate the development of the NexaCore AI & Renewable Energy Infrastructure Campus, a proposed solar power plant and artificial intelligence ("AI") data center on land within or associated with the Resort in Grenada. Marwynn's wholly-owned subsidiary, NexaCore Technologies, Inc. ("NexaCore"), will lead project development, technology implementation, and day-to-day execution under Marwynn's oversight.

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, which represents 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.

"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, Inc. "The MOU gives us 24 months of exclusivity to test that model through land, grid, and connectivity studies before we commit capital."

Scope of Potential Cooperation

The MOU sets out a broad framework that the parties intend to refine through feasibility work and definitive agreements. Final capacity, site configuration, and commercial structure will be determined after technical and feasibility studies. The areas under evaluation include:

Solar power generation and energy storage

• 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 to balance solar output with the data center's power demand.
• Substations, interconnection facilities, and transmission infrastructure are coordinated with local utilities and subject to their approval.
• Sales of power not needed by the data center through offtake arrangements or other commercial structures, where viable and agreed with the relevant parties.
  
  

AI and high-performance computing

• 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.
• AI training and inference capacity, cloud and hosting services, and data storage for regional and international customers.
• Cybersecurity, cooling systems, and supporting technology infrastructure suited to international commercial operations.
• An integrated design in which the solar plant and data center operate as complementary parts of one renewable-powered platform, while Marwynn keeps the flexibility to structure and operate each component separately where commercially appropriate.
  
  

Site, connectivity, and supporting infrastructure

• 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, with the Resort's facilitation.
• Grid, interconnection, access roads, and related site infrastructure.
• Potential shared infrastructure between the campus and the wider Resort development, subject to technical and commercial feasibility.
  
  

Government coordination, permits, and incentives

• Coordination with relevant ministries, agencies, regulators, and utilities, with the Resort using commercially reasonable efforts to facilitate such coordination.
• Assistance with applications for permits, licenses, and approvals.
• Coordination on investment incentives, concessions, or other benefits that may be available to the project under Grenadian law.
• Support with workforce, immigration, and specialized personnel planning.
  
  

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

Local participation, training, and technology transfer

• Local employment and procurement, including participation by qualified Grenadian businesses and professionals, where commercially reasonable.
• Workforce development is tied to campus construction and operations.
• Training, technology transfer, and collaboration with local institutions in AI, data center operations, renewable energy, and other advanced technologies.
  
  

"When we formed NexaCore in April, we described it as a measured step that would grow with the capital and equipment available to us," said Ms. Yan. "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."

Key Terms of the MOU

• Indicative scale: 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 a planning estimate only. It is not a commitment by Marwynn or NexaCore, and any actual investment will depend on feasibility and may be materially less than, or materially different from, that amount.
• Land: the Resort intends to contribute, grant, lease, license, or otherwise make land available. The form and value of the land contribution, and any ownership or economic interest the Resort receives, will be determined only after legal, technical, and valuation due diligence. No value is assigned to the land under the MOU.
• Project structure: Marwynn is the contracting party. Marwynn, directly or through NexaCore, may carry out the project through subsidiaries, affiliates, special-purpose vehicles, or joint ventures, and may bring in strategic investors, technology partners, infrastructure funds, and lenders.
• Commercial control: subject to Grenadian law and definitive agreements, Marwynn, through NexaCore, retains responsibility for technology, capital allocation, financing, partners, customers, suppliers, operators, and expansion strategy. The land contribution is not a sovereign or governmental guarantee of Marwynn's obligations.
• Exclusivity: during the MOU term, the Resort will not negotiate with third parties for a solar plant, AI data center, or similar infrastructure project on or in connection with the Resort without Marwynn's consent.
• Intellectual property: each party keeps its pre-existing intellectual property. Rights to anything developed jointly for the project will be addressed in definitive agreements.
• Term: 24 months, unless extended or superseded by definitive agreements. Either party may terminate on 30 days' written notice, and Marwynn may terminate immediately if it determines the project is not commercially or technically feasible.
  
  

Next Steps

NexaCore plans to begin technical, commercial, environmental, land and title, site, energy, connectivity, and financial evaluations to determine the final scope and viability of the project, with the Resort providing site access, available project information, and introductions to relevant authorities and utilities. The scope, capacity, capital allocation, and timing of each phase may be adjusted based on feasibility results, financing, market conditions, customer demand, and land availability. The project may be financed through a combination of project-level equity, strategic and institutional investors, infrastructure funds, project and equipment financing, capital markets transactions, and other sources. Any binding obligations relating to land, funding, or construction will be set out only in definitive agreements, and there is no assurance that definitive agreements will be signed or that the project will proceed.

About Marwynn Holdings, Inc.

Marwynn Holdings, Inc. (NASDAQ: MWYN) is a diversified holding company. Through its subsidiaries, the Company seeks to invest in and operate businesses that leverage advanced technologies to drive operational efficiency and market growth.

About NexaCore Technologies, Inc.

NexaCore Technologies, Inc. is a wholly-owned subsidiary of Marwynn Holdings, Inc., formed in April 2026 to develop AI computing infrastructure and technical support services. NexaCore's planned focus includes high-density data center environments with liquid-cooling systems for large-scale GPU clusters, and managed cloud and infrastructure-as-a-service offerings for enterprise AI customers.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward-looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the non-binding nature of the MOU and the risk that the parties do not enter into definitive agreements on acceptable terms or at all; the results of feasibility, environmental, land, title, and valuation due diligence; the Company's ability to obtain financing for the project on acceptable terms or at all, and the dilution that may result from any equity financing; the risk that the actual investment in the project is materially less than, or materially different from, the indicative US$500 million figure; the ability to obtain permits, approvals, incentives, grid interconnection, and land rights from governmental authorities and utilities in Grenada; the availability and cost of GPU, solar, storage, and other equipment; demand for AI computing capacity and the Company's ability to secure customers; risks associated with operating in a foreign jurisdiction; the risk that the proposed mission and AI-focused business infrastructure of NexaCore may not be realized as planned; potential changes in the legislative and regulatory environment applicable to AI technologies, data governance, energy, or digital infrastructure; the ability to manage growth; the ability to identify and integrate future acquisitions; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of business due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Risk Factors" in documents filed by the Company with the Securities and Exchange Commission ("SEC"), including the Company's latest annual report on Form 10-K, filed with the SEC on July 30, 2026, as amended on September 22, 2026, and as revised or updated in subsequent filings, including current reports on Form 8-K. The forward-looking statements are based on information available to the Company on the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Investor Relations Contact:
info@marwynnholdings.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Has Marwynn committed US$500 million to the Grenada AI data center campus?

No. Approximately US$500 million is an indicative aggregate planning estimate for the solar and data center components, with no predetermined split. It is not a commitment by Marwynn or NexaCore. Actual investment depends on feasibility and may be materially less than, or materially different from, that amount.

What exclusivity does Marwynn have under the Grenada National Resort MOU?

During the 24-month MOU term, Grenada National Resort cannot negotiate with third parties for a solar plant, AI data center or similar infrastructure project on or in connection with the Resort without Marwynn's consent. The term may be extended or superseded by definitive agreements.

Can Marwynn terminate the Grenada campus MOU?

Either party may terminate the MOU on 30 days' written notice. Marwynn may also terminate immediately if it determines that the project is not commercially or technically feasible.

How could Marwynn finance the proposed Grenada campus?

The project may use project-level equity, strategic and institutional investors, infrastructure funds, project and equipment financing, capital markets transactions, and other sources. Binding funding obligations would be established only through definitive agreements.