1606 Corp. Acquires Sim Agro Inc.

1606 Corp. has signed a definitive agreement to acquire a majority controlling interest in Sim Agro Inc., a global power-plant operations and energy-infrastructure company. This acquisition is a strategic move by 1606 Corp. to develop captive power and data center infrastructure for the artificial intelligence and high-performance computing markets. As part of the transaction, Sim Agro Inc. will become the primary operator of 1606 Corp.'s growing portfolio of power and energy infrastructure, including a previously announced Texas power-generation property. The deal also involves a restructuring of an existing lien associated with Sim Agro Inc., which is expected to reduce the net acquisition cost of the facility by approximately $4.2 million. Dr. Karthik Raghavan, from Sim Agro Inc., will join the 1606 Corp. Board of Directors and enter into an employment contract. This integration aims to strengthen 1606 Corp.'s ability to scale captive power solutions for data center customers, addressing the rapidly expanding demand for electricity driven by AI workloads.