Jet.AI and Consensus Core Complete Second Milestone of Canadian Hyperscale Data Center Project
LAS VEGAS, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Jet.AI Inc. ("Jet.AI" or the "Company") (Nasdaq: JTAI) and Consensus Core Technologies Inc. ("Consensus Core"), a leader in high-performance GPU infrastructure and AI cloud services, today announced that the second milestone has been substantially completed for their hyperscale data center campus in Midwestern Canada (the “Midwestern Project”) and Maritime Canada (the “Maritime Project”), respectively.
The completed second milestone includes the following:
- Contribution of $1.7 million by Jet.AI to the joint venture
- Release of mortgage liens of the existing acreage owned by the Midwestern Project
- Execution of a Letter of Intent to acquire 350 acres of property adjacent to the existing property owned by the Midwestern Project (a significantly larger amount of acreage than the previously anticipated 100 acres)
- Contribution of 100% of equity interest of the Midwestern Project by Consensus Core to the joint venture
- Completion of the Maritime site inspection by Jet.AI
Founder and Executive Chairman Mike Winston commented: “The energy and natural resources we need are already present in abundance at our sites, and the next milestone (#3) is about turning that advantage into action. We’re making sure we don’t just have places to build data centers, but also the energy commitments to make them run. Overall, we’re encouraged by the progress and believe the odds of success for both projects have now moved in our favor. Consensus Core CEO Wayne Lloyd is the kind of partner you look forward to hearing from: smart, dependable, and able to turn plans into progress.”
In connection with the completion of the second milestone, the joint venture assumed $1.8 million in unsecured debt and accrued interest from Consensus Core, related to the existing acreage owned by the Midwestern Project. The cost of achieving the third milestone is expected to be relatively modest, so the majority of proceeds from a successful closing are expected to be used to repay the assumed debt and accrued interest at that time.
The next (third) milestone for the Midwestern and Maritime Projects are as follows:
| Midwest Milestones | Maritime Milestones | Contribution Amount by Jet.AI | ||||
| The submission by Convergence Compute of a Transmission Power Load Study application with respect to the Midwest data center project. Confirmation from natural gas utility or other supplier or reseller that they are willing to supply sufficient flow to operate up to the six proposed turbines. | The contribution by Consensus Core as set forth in the Contribution Agreement. Execution of a letter of intent by Convergence Compute with a power producer to acquire power from their proposed wind farm for use by the Maritime data center project (the “Wind Power Project”). | $ | 2,000,000 | |||
About Jet.AI
Founded in 2018 and is based in Las Vegas, NV, Jet.AI currently operates in two segments, Software and Aviation, and is transitioning to a pure-play AI data center company. Leveraging a leadership team with deep expertise in data center development and AI-driven technologies, Jet.AI intends to build a scalable, high-performance infrastructure to support the increasing computational demands of artificial intelligence. Our suite of AI-powered tools stems from our origin as an aviation company, and leverages natural language processing technologies to enhance efficiency, optimize operations, and streamline the private jet booking experience.
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