MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) announced a strategic Memorandum of Understanding with Douglas Capital Inc. to evaluate connecting the company's Lawson Natural Hydrogen Discovery in Saskatchewan to Canadian-built AI data centres and broader electricity markets. Douglas Capital is led by John Douglas, whose development experience includes the C$8 billion, 1,250 MW Champlain Hudson Power Express, which entered commercial operation in June 2026. The non-binding MOU establishes a framework for two parallel initiatives and commits the parties to agreeing on a joint feasibility work plan, budget, and timetable within 30 days of the MOU's effective date. Investors may be watching closely as MAX Power advances technical evaluation of Lawson while seeking commercial pathways for what it describes as Canada's first confirmed subsurface Natural Hydrogen system.

Key Points

  • MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) announced the MOU on October 27, 2026.
  • The collaboration with Douglas Capital Inc. targets Saskatchewan-based, Canadian-built AI data centres powered by Natural Hydrogen-derived electricity.
  • A second initiative would examine a proposed 2,000 MW, 100% First Nations-controlled Alberta-to-Ontario HVDC energy corridor called CANVergence Energy Way.
  • The MOU is non-binding; no definitive agreement has been entered into, and no assurance exists that either initiative will proceed.

Lawson Natural Hydrogen Discovery at the Centre of the Douglas Capital Collaboration

MAX Power's Lawson Discovery near Central Butte, Saskatchewan is described by the company as Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling with data validated by three independent labs. The company holds approximately 2.5 million permitted acres across Saskatchewan. The MOU directs Douglas Capital to lead project development, financial modelling, and efforts to raise development capital for data centre projects, while MAX Power would contribute subsurface and hydrogen supply information to evaluate and size potential developments. A joint steering committee with a senior representative from each company would oversee the proposed work plan.

Douglas Capital's Energy Infrastructure Credentials and the CANVergence Energy Way Proposal

Douglas Capital is led by John Douglas, founder of Transmission Developers Inc. and originator of the Champlain Hudson Power Express, an approximately 550-kilometre underground and underwater transmission project connecting Québec hydroelectricity to New York City. Co-founder Dr. Denis Steyn brings more than 25 years of high-voltage engineering experience, including leadership of Siemens' power transmission lines business. Their hydrogen-focused company, Current H2 Inc., has completed front-end engineering and design for a proposed 25 MW reference plant in Owen Sound, Ontario. The proposed CANVergence Energy Way corridor is intended to include a 2,000 MW multi-terminal HVDC transmission system extending from Alberta to Ontario.

Saskatchewan AI Data Centre Initiative and Canadian-Built Power Systems

The data centre initiative would evaluate a connected network of Saskatchewan facilities of varying capacities using advanced power electronics and modular generation systems. The announcement states the intended solution would be made, constructed, and installed by Canadian companies. Project sizing would be informed by MAX Power's hydrogen composition, quantity, and flow data alongside customer requirements and technical, commercial, and environmental feasibility. The release states Saskatchewan is positioning itself for substantial investment in AI infrastructure, with new data centre developments facing increasing pressure to secure dedicated power supplies.

MOU Limitations and Material Conditions Investors Should Note

The MOU is explicitly non-binding other than certain customary provisions, does not establish a legal partnership or joint venture, and does not commit either party to project financing. It grants neither party rights to the other's resources, production, or infrastructure capacity. Any development remains subject to technical, commercial, and environmental feasibility, financing, permitting, required approvals, and definitive agreements. MAX Power's Natural Hydrogen projects remain at the exploration and evaluation stage, and the identification of Natural Hydrogen does not establish commercially recoverable resources or reserves.