POWERBANK Corp

POWERBANK Corp has announced the termination of its At-The-Market (ATM) equity offering program that was initiated in February 2026. The company, a developer and owner of renewable and clean energy projects, did not provide specific reasons for the termination.

PowerBank Corp highlighted its proven expertise with over 100 MW of completed projects and a development pipeline exceeding 1 GW, focusing on distribution-level solar projects. The company emphasizes its strategic partnerships and capabilities to deliver reliable energy solutions. The next steps for projects include preliminary assessments and advancing the permitting process. However, the company also noted several risks associated with project development, including permits, financing, construction, degradation, and potential changes in government incentives.

PowerBank Corporation announced that its 903 BESS project has secured major permitting approvals, including Official Plan Amendment and Zoning Bylaw Amendment. This marks a significant regulatory milestone, concluding the most complex phase of the permitting process, with construction permits expected in Q4 2026. The project, which is PowerBank's second BESS project in Ontario to reach this stage, holds a 22-year contract with IESO at a favorable capacity payment, positioning the company to capitalize on the rapidly growing battery energy storage market.

PowerBank Corporation announced it will support TriMac Engineering in providing solar consulting services for the Municipality of the County of Victoria in Nova Scotia. This new opportunity involves conducting solar feasibility studies and developing an implementation roadmap for municipal buildings and properties. The contract, executed on July 8, 2026, addresses Victoria County's concerns regarding energy reliability, rising utility costs, and climate disruptions. PowerBank has an established partnership with TriMac, collaborating on three existing Community Solar Projects in Nova Scotia with a combined capacity of 12.4 MW.

PowerBank Corporation announced a 3.2 MW DC ground-mount solar project in Broome County, New York, expected to power approximately 400 homes and qualify for significant incentives, including a $3.2 million USD Investment Tax Credit. Concurrently, the company increased monthly compensation for its executive officers, advisory board, and General Counsel, with potential for further increases tied to future financings. Additionally, PowerBank will issue 298,804 shares to settle outstanding director fees from a prior acquisition.

PowerBank Corporation announced it has received the certificate of final completion for its 1.45 MW DC rooftop solar project in Calgary, Alberta, developed for Fiera Real Estate. The project, which reached commercial operation in December 2025, is now selling power to the grid. This completion highlights PowerBank's capability in delivering EPC services and its readiness to meet the increasing power demand in Canada, particularly in Alberta where significant data center load requests are straining the grid.

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.