Clean Max Enviro, a renewable energy company, reported a return to profitability in the first quarter as revenue more than doubled year-over-year. The company also reaffirmed its EBITDA guidance for fiscal year 2028.

According to the company's Q1 results, Clean Max Enviro achieved its highest-ever quarterly capacity addition during the period. The renewable energy firm expanded its contracted portfolio to 6 GW and disclosed that Data & AI customers now account for 42% of its contracted capacity.

The return to profit marks a significant milestone for the company, which has been working to scale its renewable energy operations. The doubling of revenue signals strong demand growth, particularly driven by increasing corporate adoption of clean energy solutions.

Clean Max Enviro's focus on serving data center and artificial intelligence customers reflects a broader industry trend, as technology companies increasingly seek renewable energy sources to power energy-intensive computing infrastructure. Global data center electricity consumption has been rising sharply, driven by AI training and inference workloads, pressuring hyperscalers and colocation operators to secure large-scale clean energy supply through long-term power purchase agreements. The company's ability to capture 42% of its contracted capacity from this customer segment positions it within a rapidly expanding market where competition for grid-connected renewable supply is intensifying.

The maintenance of FY28 EBITDA guidance indicates management confidence in the company's medium-term financial trajectory despite the quarterly fluctuations that had previously weighed on profitability. The company's progress toward its 6 GW contracted portfolio and its stated mix of Data & AI demand will be key metrics to monitor in subsequent quarters, as execution on capacity additions and customer ramp-ups underpins the earnings trajectory implied by the guidance.

Source: CNBC-TV18 Markets