POWERBANK Corp

PowerBank announced that its SB-14 community solar project has reached commercial operation. This project is part of a US$41 million engineering, procurement, and construction (EPC) agreement covering a portfolio of three community solar projects totaling 21 MW DC. The SB-14 project, built on a Honeywell industrial brownfield, is the second from the portfolio to achieve commercial operation, bringing the total clean energy generated to 14.02 MW. PowerBank also retains an operations and maintenance contract for the projects.

PowerBank Corporation entered into a Securities Purchase Agreement to sell its common shares to various purchasers at a price of $3.55 per share. A.G.P./Alliance Global Partners will serve as the exclusive placement agent for this registered direct offering, earning a 6.0% cash fee on gross proceeds. The offering is conducted under existing Canadian and U.S. prospectuses, with a maximum of C$200 million available under the Canadian shelf prospectus.

PowerBank Corporation announced that its wholly owned subsidiary, Abundant Solar Power Inc., has secured an Operations and Maintenance Services Agreement with Honeywell International Inc. The agreement covers a 21-megawatt portfolio of three community solar projects in New York State, built on an industrial brownfield owned by Honeywell. This agreement follows PowerBank's previous sale of the projects to Honeywell and an Engineering, Procurement, and Construction agreement, highlighting the company's vertically integrated business model and its growing presence in the clean energy sector.

PowerBank Corporation announced it has entered into securities purchase agreements with two new institutional investors for a strategic investment. The company will receive approximately $4.2 million in gross proceeds from the sale of 7,000,000 common shares in a registered direct offering. The funds are intended to advance PowerBank's independent power producer project portfolio, including those with the U.S. Department of Military and Naval Affairs and other U.S. Federal government projects, as well as for working capital and general corporate purposes.

PowerBank Corporation announced the execution of a Joint Development Agreement (JDA) with Nodiac.ai to develop modular data centers. This partnership will co-locate containerized AI compute at PowerBank's existing energy sites, leveraging its solar and Battery Energy Storage System (BESS) portfolio across North America. The agreement aims to unlock new revenue streams from existing assets and address the growing demand for AI compute infrastructure by providing a speed-to-power model.

PowerBank Corporation announced it has been awarded a $2,950,000 USD federal contract by the US Department of Defense and the Department of the Army. The contract, secured by its subsidiary Abundant Solar Power Inc., is for a covered parking canopy solar project at the Armed Forces Reserve Center Farmingdale in New York, which will also include electric vehicle charging stations. This significant award marks PowerBank's first project for the US Federal Government, validating its capabilities and adherence to Federal Acquisition Regulations.

PowerBank Corp announced the commercial operation of SB 13-2, a 5 MW AC-class community solar project in New York. This project is part of a US$41 million portfolio of three community solar projects totaling 21 MW DC, which PowerBank sold to Honeywell in September 2023 and for which it also holds the EPC agreement. The company highlighted this as a significant milestone, demonstrating its full-cycle capabilities from origination to commercial operation. PowerBank is also strategically expanding its focus to serve the growing demand for on-site power generation for AI compute infrastructure and modular data centers, leveraging its over 100 megawatts of developed projects and a pipeline exceeding one gigawatt.

PowerBank Corporation announced that its Geddes, US1, and VC1 independent power projects in New York State, totaling 4.48 MW, are functioning well. These projects contribute to the company's 100 MW of operational energy capacity and are part of its 1 GW+ development pipeline. The Geddes project benefits from New York's Value of Distributed Energy Resources compensation, while US1 and VC1 have 25-year Power Purchase Agreements, positioning PowerBank to meet surging electricity demand.

PowerBank Corporation confirmed the completion of equipment procurement agreements totaling $242.3 million USD in construction value for 23 distributed solar and energy storage projects in New York and Pennsylvania. This procurement secures eligibility for an estimated $94.7 million USD in federal Investment Tax Credits under the One Big Beautiful Bill Act of 2025. The projects, once operational, are expected to provide 97 MW DC of solar and 42 MWh of energy storage, powering the equivalent of approximately 11,000 homes. The company proactively satisfied the IRS Physical Work Test to protect tax credit eligibility despite regulatory uncertainty.

PowerBank Corporation announced it has safe harbored 8 distributed solar and energy storage projects in New York and Pennsylvania, totaling 30 MW DC of solar and 31 MWh of energy storage. This action secures eligibility for an estimated $29.7 million USD in United States federal Investment Tax Credits, with a total construction value of $74.3 million USD. This follows a previous safe harbor of 15 projects, bringing the company's total to 23 projects with a combined 97 MW DC and 42 MWh, ensuring they remain eligible for the 30% Investment Tax Credit under the One Big Beautiful Bill Act of 2025.