Company Announcements

Providing integrated energy parks under an Energy as a Service offering and accelerating AI data center development by eliminating power procurement constraints and upfront investment challenges

TOKYO and NEW YORK, May 12, 2026 /PRNewswire/ -- Hitachi, Ltd. (TSE: 6501, "Hitachi") and X LABS LLC ("X LABS"), a U.S. firm specializing in investment management of Special Purpose Vehicles (SPVs)^*1 and project management, today announced a strategic collaboration agreement to develop dedicated energy parks designed as behind-the-meter power supply hubs with co-located, gigawatt(GW)-scale infrastructure for AI data center off-takers in North America.
*1 A project-specific limited liability company that will own and operate the energy park to provide EaaS to its off-taker clients.

An energy park is an on-site power supply hub that integrates power generation and storage facilities, transmission & distribution (T&D) infrastructure, and energy management systems. Designed and built to serve as a primary power source while coordinating with the regional power grid, energy parks enable reliable and controllable large-scale power procurement without waiting for grid reinforcement, thereby contributing to the accelerated development of large industrial facilities.

Through this partnership, the parties aim to provide the full lifecycle of energy parks — including design, development, operation, and power supply — as Energy as a Service (EaaS) via a SPV. This approach is intended to create an environment in which data center operators can secure stable power necessary for business expansion without undertaking large upfront capital investments or managing complex energy operations on their own. Looking ahead, SPVs operated by X LABS will lead project financing, site selection and development, and project management, with plans to complete the first energy park in the early 2030s.

By combining Hitachi's GW-scale T&D technologies and grid stabilization capabilities with X LABS's technology-driven investment and operational expertise, the parties will address power procurement bottlenecks faced by data center operators and contribute to sustainable data center operations as well as to solving societal challenges through the deployment of AI.

Background
The rapid expansion of AI and cloud services is driving a surge in data center development. In the United States, however, aging power infrastructure is struggling to keep pace with demand, making reliable power procurement a critical bottleneck for data center expansion.
In response, hyperscalers developing large AI data centers are increasingly turning to energy parks that secure on-site primary power by combining multiple generation sources, energy storage, and energy management systems. Unlike conventional kilowatt (kW) or megawatt (MW) scale microgrids, designing and operating GW-scale energy infrastructure that requires strict power quality demands substantial capital investment and specialized expertise, creating a significant burden for operators.

To address this challenge, the energy parks developed through this collaboration adopt an EaaS model that integrates facility development, operation, and power supply, enabling customers to access stable power quickly without owning assets or managing complex energy operations.

Role and responsibilities in the collaboration
Hitachi brings deep customer-focused insight into power procurement and operations, with Hitachi Energy providing power system capabilities across high-voltage T&D, grid stabilization, and power quality. Through the One Hitachi approach led by its Strategic SIB Business Unit, Hitachi will support stable and efficient energy park operations by providing T&D solutions, advanced grid-interconnection technologies, and energy management systems incorporating battery energy storage systems (BESS). Hitachi also aims to further advance and optimize energy operations by leveraging HMAX Energy^*2, one of the HMAX by Hitachi suite of next-generation solutions that brings the power of AI to social infrastructure.
*2 Press Release: Hitachi launches HMAX Energy, a pioneering AI-powered service and solution suite for critical energy infrastructure, March 23, 2026

X LABS is an investment and development company founded by a former CEO of a global asset management firm and a former CTO of a global technology group. Leveraging deep insights into advanced energy technologies and business developments, X LABS will lead the overall project management of energy parks, including the establishment and management of SPVs, investment, site selection, procurement, and project financing. Through these SPVs, X LABS will develop and operate the energy parks and supply electricity to customers under an Energy‑as‑a‑Service model.

Jun Taniguchi, Senior Vice President and Executive Officer, CEO of Strategic SIB Business Unit, Hitachi, Ltd. said: "As AI growth accelerates data center development, the need for reliable power supply is becoming increasingly critical. Leveraging long‑standing experience in social infrastructure and capabilities across IT, OT, and products, we will provide DC-architected electrical solutions. We are excited to engage in EaaS projects, through project-specific SPVs managed by entities of X LABS, bringing expertise from across the Hitachi Group to support next‑generation energy infrastructure."

Karan Trehan, CEO and Founder, X LABS LLC said: "We are privileged to collaborate with Hitachi by bringing our team's collective experience in asset management and project management to energy parks and, enabled by various incentives at Federal, state and local government levels, particularly in the U.S., to provide attractive investment returns to energy infrastructure investors."

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About Hitachi, Ltd.
Through its Social Innovation Business (SIB) that brings together IT, OT(Operational Technology) and products, Hitachi aims to be a global leader in continuously transforming social infrastructure through digital, contributing to a harmonized society where the environment, wellbeing, and economic growth are in balance.
Hitachi operates worldwide across four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – as well as a Strategic SIB Business Unit focused on new growth areas. With Lumada at its core, Hitachi creates value by combining data, technology and domain knowledge to solve customer and social challenges.
Revenues for FY2025 (ended March 31, 2026) totaled 10,586.7 billion yen, with 606 consolidated subsidiaries and approximately 290,000 employees worldwide. Visit us at www.hitachi.com.

About X LABS LLC
X LABS is a U.S.-based investment manager and developer, focused on behind-the-meter micro grids that provide dedicated power to AI data centers and industrial users. Through project-level investment vehicles, the firm accesses institutional capital and project-manages the installation and ongoing operations of these energy hubs by leveraging its strategic partnerships. Visit us at www.xlabsenergy.com.

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SOURCE Hitachi Americas