Magellan Copper & Gold Corporation has formed a new wholly owned subsidiary, Magellan Energy Corp., to pursue opportunities in the energy production and storage markets with a focus on brownfield development of efficient energy solutions.

The venture aims to address a growing demand for energy driven by the artificial intelligence revolution and the expansion of data centers. Magellan Energy and its advisors believe they have solutions for several difficulties in current energy production and storage.

Chief Executive Officer Mike Lavigne stated that the subsidiary leverages the company's background.

“Magellan Energy Corp is not necessarily an entirely new direction for the company, but we believe that our experience in the mining industry is what will help drive some of the solutions we are going to pursue through Magellan Energy”

— Mike Lavigne, CEO

Magellan announced it will provide additional details regarding Magellan Energy Corp. in the coming months.

Read the full announcement: Magellan Copper and Gold Corp. Forms New Subsidiary Magellan Energy Corp.