Recent Insider Transactions • Jun 07
President & COO recently sold US$60k worth of stock On the 2nd of June, Andrew van Doorn sold around 43k shares on-market at roughly US$1.40 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Andrew has been a net seller over the last 12 months, reducing personal holdings by US$232k. New Risk • May 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$30m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$37.0m market cap). Price Target Changed • May 20
Price target decreased by 28% to US$2.75 Down from US$3.83, the current price target is provided by 1 analyst. New target price is 288% above last closing price of US$0.71. Stock is down 59% over the past year. The company is forecast to post a net loss per share of CA$0.31 next year compared to a net loss per share of CA$0.96 last year. Reported Earnings • May 20
Third quarter 2026 earnings released: CA$0.12 loss per share (vs CA$0.19 loss in 3Q 2025) Third quarter 2026 results: CA$0.12 loss per share (improved from CA$0.19 loss in 3Q 2025). Net loss: CA$5.46m (loss narrowed 8.6% from 3Q 2025). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in the US. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 46% per year, which means it has not declined as severely as earnings. Announcement • May 15
PowerBank Corporation to Report Q3, 2026 Results on May 19, 2026 PowerBank Corporation announced that they will report Q3, 2026 results on May 19, 2026 Announcement • May 07
Powerbank Corporation Announces Commercial Operation of Battery Energy Storage System Project in Ontario PowerBank Corporation announced that the 4.99 MW Battery Energy Storage System ("BESS") project in Cramahe, Ontario, also known as BESS SFF 06 (the "Project"), has reached Commercial Operation and commenced revenue producing operations. BESS SFF 06 has been constructed and is operating at the site of an existing ground-mount solar project. The existing solar project is a separate project which was awarded a contract in 2015 by the Independent Electricity System Operator ("IESO") under the Feed In Tariff program. In July 2023, the Project was awarded a contract by the IESO under the Expedited Long-Term RFP (E-LT1 RFP). The contract, which has a term of 22 years, includes a fixed contract capacity payment of $1,221/MW per business day, significantly above the weighted average price of $876/MW for all storage category projects under the E-LT1 RFP. Now that the project is operational, it will have 4.74 MW of daily contract capacity available (at a capacity payment to ProjectCo of $1,221/MW per business day) for 251 business days in a year. Furthermore, the Project is eligible for the Clean Technology Investment Tax Credit introduced in 2024. This refundable tax credit provides up to 30% reimbursement of eligible capital costs for new clean technology. The BESS SFF 06 project is financed through a combined loan for two projects (BESS SFF 06 and BESS 903) ("Loan") in a principal amount of $28.1 million from Royal Bank of Canada as Lender, Administrative and Collateral Agent and Green Loan Structuring Agent (the "Lender" or "RBC"). The Project is owned by 1000234763 Ontario Inc. ("ProjectCo") ProjectCo is the borrower under the terms of the Loan. The Project represents PowerBank's initial foray into battery energy storage, a market forecast by Fortune Business Insights to grow at a 16.3% compound annual growth rate from 2022 to reach $31,200 million by 2029. PowerBank's interest in ProjectCo was acquired as part of the $45 million valued acquisition of Solar Flow-Through Funds Ltd. that closed in July 2024. The Company has an indirect 50% interest in ProjectCo, with the remaining 50% held by a partnership formed by First Nations communities in Ontario. PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. There are several risks associated with the operation of the Project. The operation of any battery energy storage project is subject to maintaining compliance with required permits, the IESO E-LT1 Contract, technical risks associated with the operation of equipment the degradation of battery storage capacity over time based on the number of discharge cycles. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the projects and statements made in this press release. Announcement • May 02
PowerBank Corporation Achieves Key Grid Interconnection Milestone for Sydney Community Solar Project PowerBank Corporation announced execution of the Standard Small Generator Interconnection and Operating Agreement (SSGIA) for the Sydney ground-mounted community solar project. The Sydney project is approximately 2.43 MW in size. The Project has also received the necessary permits from the municipality. Given the successful completion of the SSGIA, PowerBank will now be proceeding to environmental permitting. PowerBank targets commencement of ground preparation in Fall 2026 for the Sydney project, subject to final permitting and financing. The Project is owned by AI Renewable Flow-through Fund and PowerBank is the lead developer for the Project. PowerBank has partnered with local Nova Scotia's engineering firm, Trimac Engineering, to deliver the Projects. Over the lifetime of the Project, it is expected to generate approximately $1.79 Million in electricity savings for the local community in Cape Breton, Nova Scotia. These savings come with the additional benefits including local job creation, economic activity, and emissions reductions. Community Solar is a cornerstone of Nova Scotia's commitment to achieve 80% renewable energy by 2030 and net-zero by 2035. Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of $0.02/kWh--without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. As one of only four community solar contracts awarded under the program so far, the Sydney project contributes approximately 2.43 MW DC to the 100 MW AC of planned solar additions that will help reduce fossil fuel reliance and drive local economic development. The Project leverages PowerBank's execution capabilities and strategic partnerships. With over 100 MW of projects built and a 1+ GW development pipeline, PowerBank brings development expertise to Atlantic Canada. The Project's clear timeline ensures near-term EPC revenue generation, and positions PowerBank to obtain additional development contracts in the community solar market. All MW numbers presented as MW DC unless otherwise specified. There are several risks associated with the development of the Project. The development of any project is subject to receipt of interconnection approval, a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in the Project no longer being economic. Announcement • Apr 25
PowerBank Corporation Announces Grid Interconnection Milestone On Brooklyn Community Solar Project PowerBank Corporation announced the Brooklyn Project has completed the execution of the Standard Small Generator Interconnection and Operating Agreement (SSGIA) for the Brooklyn ground-mounted community solar project (the "Project"). The Brooklyn project is approximately 6.86 MW in size, and the most recent news regarding the Project can be found here. The Project has also received the necessary permits from the municipality. Given the successful completion of the SSGIA, PowerBank will now be proceeding to environmental permitting. Following the completion of the necessary permitting and approvals, PowerBank expects to begin construction activities in the Fall of 2026. The Project is owned by AI Renewable Flow-through Fund and PowerBank is the lead developer for the Project. PowerBank has partnered with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the Projects. PowerBank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there. Over the lifetime of the Project, it is expected to generate approximately $3.86 Million in electricity savings for the local community in Annapolis Valley, Nova Scotia. These savings come with the additional benefits of local job opportunities, economic growth, local educational opportunities regarding renewable energy, improved grid reliability, and emissions reductions. Community Solar is a cornerstone of Nova Scotia's bold commitment to achieve 80% renewable energy by 2030 and net-zero by 2035.Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of $0.02/kWh--without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. As one of only four community solar contracts awarded under the program so far, the Brooklyn project contributes approximately 6.68 MW DC to the 100 MW AC of planned solar additions that will help reduce fossil fuel reliance and drive local economic development. The Project leverages PowerBank's proven execution capabilities and strategic partnerships. With over 100 MW of projects built and a 1+ GW development pipeline, PowerBank brings institutional-grade development expertise to Atlantic Canada. The Project's clear timeline ensures near-term EPC revenue generation, and positions PowerBank to obtain additional development contracts in the high-growth community solar market. All MW numbers presented as MW DC unless otherwise specified. Announcement • Apr 09
PowerBank Corporation Receives Notice from Nasdaq Regarding Minimum Bid Price Rule PowerBank Corporation announced that it received a written notice (the 'Notice') from the Listing Qualifications Department of the Nasdaq Stock Market LLC ('Nasdaq') indicating that, based upon the closing bid price of the Company's common shares for the 30 consecutive business day period between February 19, 2026, through April 1, 2026, the bid price for the Company's common shares had closed below the minimum USD 1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5450(a)(1) (the 'Minimum Bid Price Rule'). The Notice has no immediate effect on the listing of the Company's common shares on The Nasdaq Global Market. The Company intends to monitor the bid price of its common shares and consider available options to regain compliance with the Minimum Bid Price Rule. The letter has no immediate impact on the Company's business operations or listing of the Company's common shares, which will continue to be listed and traded on The Nasdaq Global Market, subject to the Company's compliance with the other listing requirements of The Nasdaq Global Market. Announcement • Apr 02
PowerBank Corporation Shares Update on Pennsylvania Project Interconnection PowerBank Corporation announced that its 4.22 MW ground-mount solar project at Grandview Rd (the Project), located in Pennsylvania, has completed the Interconnection Impact Review (IRR). This project was included in the previous press release of a larger Pennsylvania project. The Grandview project first announced as a 13.8 MW DC project in Lancaster County has been split into multiple projects. Upon securing permits and financing, and the approval of House Bill 1842, PowerBank expects to commence construction, with the project set to operate as a community solar initiative. This innovative model enables renters, businesses, and homeowners to subscribe to the solar farm, receiving bill credits and savings without installing on-site equipment. The clean energy generated by a community solar project feeds directly into the local electricity grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can earn credits on their electric bill and save money from the electricity that is generated by the project. On March 26, 2024, the Pennsylvania House passed House Bill 1842, a bill enabling the potential development of community solar projects in the state, paving the way for companies like PowerBank to expand into the region and provide clean energy to residents of various income levels. On May 7, 2025 the bill passed House again with the addition of natural gas included in the community solar's application. The bill is currently under review by the Senate. The development of the Project as a community solar project will be subject to the final approval of House Bill 1842 by the State government of Pennsylvania. If the Bill does not pass, the Project will proceed as a net metered system under the Pennsylvania Alternative Energy Portfolio Standards Act. PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, House Bill 1842 becoming law, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Announcement • Mar 25
Powerbank Corporation Advances 3.1 Mw Hybrid Solar and Battery Energy Storage System Project on Closed Landfill in New York PowerBank Corporation announced an update on the development of the NY-South Park project, located on a closed landfill site in Buffalo, New York. The Project has now secured all discretionary municipal approvals to enable the project to move forward, including a negative declaration under SEQRA, area and use variances and a zoning map amendment. The Company is currently pursuing NYS Department of Environmental Conservation approval to enter construction on the Project. Following receipt of the final construction approval and financing, the Company intends to commence the construction of the Project. Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates. PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the Project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The Project advances New York's ambitious Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. As a national leader in community solar, New York accounts for nearly one-third of the United States' 6.2 GW of installed solar capacity. Announcement • Mar 18
PowerBank Corporation Announces Spring Mobilization of 9 Projects in New York State PowerBank Corporation announced the spring mobilization of 9 projects in NY State, including Jordan Rd 1 and 2, Elmira, Newark and Camp Smith projects, among others. Spring mobilization is the initial stage of construction which includes site preparation. The Projects include rooftop, carport, and ground-mounted solar with a combined generation capacity of 42.24 MW, as well as battery energy storage systems with a generation capacity of 21.76 MWh. The Projects were previously updated in the following releases: Jordan Rd 1 and 2, Elmira, Newark and Camp Smith. Once operational, the Projects are expected to deliver enough energy to power approximately 5,280 homes annually, and several of these Projects will be operated as community solar projects. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Once the system is placed into service by the utility and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters, homeowners and electricity customers can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates. PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The Projects advance New York's Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. New York accounts for nearly one-third of the United States' 6.2 GW of installed solar capacity, and PowerBank is honored to contribute to this transformative milestone. Announcement • Mar 10
PowerBank Corporation Announces Jordan Rd 1 Community Solar Project Receives NYSERDA Incentive And NYSDEC Brownfield Approvals PowerBank Corporation announced that its 7 MW Jordan Rd 1 community solar project (the "Project") located on privately-owned brownfield lands in Skaneateles Falls, New York has been approved for up to USD 1,965,579 in incentives through the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. The Project is also expected to qualify for up to an additional USD 1,576,520 in NY-Sun incentives through the Inclusive Community Solar Adder. PowerBank is also announced that the Project has received its brownfield-specific environmental approvals to operate from the NYS Department of Environmental Conservation. The NY-Sun Program is a public-private partnership that aims to drive growth in the solar industry and make solar technology more affordable for all New Yorkers. The Jordan Rd Project is expected to deliver enough energy to power approximately 875 homes annually. Once constructed and operational, following receipt of financing and final permits, the Project will be operated as a community solar project. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Once the system is placed into service by the utility and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters, homeowners and electricity customers can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates. PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The Project advances New York's path to 10 GW of solar by 2030. The State leads the United States in community solar capacity, having achieved the New York State Climate Act 6 GW solar goal in the fall of 2024. There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future Project no longer being economic. Announcement • Feb 25
Powerbank Corporation Approves 2.6 Mw Elmira Solar Power Project in New York State PowerBank Corporation announced that its 2.6 MW Elmira Solar Power Project (the "Project") in New York State has been approved for up to $309,720 in incentives through the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. PowerBank will now enroll the project in the Inclusive Community Solar Adder (ICSA) stream of the NY-Sun program, which could provide up to an additional $545,107 in NY-Sun funding. The NY-Sun Program is a public-private partnership that aims to drive growth in the solar industry and make solar technology more affordable for all New Yorkers. Led by NYSERDA, the program provides incentives and financing to expand solar adoption for homes, businesses, and communities, while supporting local job creation and advancing the state's clean energy goals. The Elmira Project is expected to deliver enough energy to power approximately 325 homes annually. Once completed, the Project will be operated as a community solar project. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The Project advances New York's path to 10 GW of solar by 2030. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future Project no longer being economic. The Company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies the expected energy production from the solar power project mentioned in this press release; the number of homes expected to be powered; the expected savings for local residents; the receipt of additional project incentives; and the size of the Company's development pipeline. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminating incentives and policy support scheme for solar and battery storage power; general global economic conditions may have an adverse impact on its operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on any global pandemic on the Company is unknown at this time; the company is unknown at this time; The Company is unknown at this time. the Company is unknown at thistime; the Company is unknown at This time; the Company is unknown at this period of any global pandemic on this time; the Company is unknown. The Company is unknown at this period. The Company is unknown at the Company has limited insurance coverage; the Company is unknown at these pandemic on the Company has limited insurance coverage. The Company is unknown at these global pandemic on the company has limited insurance coverage; the company has limited insurance coverage. The company has limited insurance coverage; company is unknown at this time. Announcement • Feb 19
PowerBank Corporation has completed a Follow-on Equity Offering in the amount of $13.68 million. PowerBank Corporation has completed a Follow-on Equity Offering in the amount of $13.68 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 998,856
Price\Range: $1.76
Discount Per Security: $0.0528
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 6,739,769
Price\Range: $1.768905
Transaction Features: At the Market Offering Announcement • Feb 18
PowerBank Corporation Announces Executive Changes PowerBank Corporation announced the promotion of Andrew van Doorn, P. Eng, to President. Mr. van Doorn will continue to serve as the company's Chief Operating Officer, expanding his leadership role as PowerBank accelerates its strategic growth initiatives across North America. Mr. van Doorn has over 28 years of executive leadership experience in engineering and construction in the renewable energy and utility sectors, with over 200 MW of solar projects completed throughout his distinguished career. As former Chairman of the Canadian Solar Industries Association (CANSIA), Mr. van Doorn is a recognized expert in the management, operations, and construction of solar photovoltaic systems. He is a Professional Engineer, designated in the province of Ontario. Beyond his extensive solar expertise, Mr. van Doorn brings deep technical knowledge in Battery Energy Storage Systems (BESS) and utility-scale electrical infrastructure. His engineering background extends across a broad spectrum of power generation and distribution infrastructure, with significant experience in utility distribution work and electrical engineering gained through positions at Valard and Quanta Services, leading North American electrical contractors specializing in power transmission, distribution, and renewable energy integration. His hands-on experience with utility-scale electrical systems, transmission and distribution networks, and grid interconnection provides PowerBank with critical capabilities as the company expands. This comprehensive understanding of grid-connected infrastructure and energy storage technologies, combined with proven project execution abilities, positions him uniquely to guide PowerBank's expanding BESS portfolio and data center power solutions while enabling the company to deliver integrated energy solutions that combine solar generation, energy storage, and advanced grid services. Mr. van Doorn's extensive solar experience includes developing and constructing 32 MW of community solar projects in Minnesota, 28 MW of projects built or under construction in New York State, and 20 MW of ground mount systems in Ontario. His portfolio also features 140 MW of rooftop solar installations spread across 600 sites in Ontario, including over 500 schools. Notably, Mr. van Doorn led the development of North America's largest school rooftop solar portfolio at the Toronto District School Board, with installations at over 350 sites. Throughout his career, Mr. van Doorn has held leadership positions at several prominent renewable energy companies, contributing a wealth of technical and commercial expertise to PowerBank. His background combines deep engineering knowledge with proven business development capabilities, making him uniquely qualified to guide the company's strategic initiatives as it expands its renewable energy portfolio and pursues innovative infrastructure projects. In his role as President and Chief Operating Officer, Mr. van Doorn will continue to oversee PowerBank's commercial operations, project development, and strategic partnerships while providing executive leadership for the company's operational and growth strategies. The Company also announces that Ms. Tracy Zheng will move to the role and title of Executive Vice President, Corporate Development. Announcement • Jan 22
PowerBank Corporation Highlights Real-Time Space Satellite Tracking Dashboard PowerBank Corporation emphasized the role of Orbit AI's publicly accessible real-time satellite tracking dashboard as a reference point for monitoring the on-orbit status and uptime of Orbit AI's Genesis-1 satellite. Genesis-1 operates using space infrastructure supporting Orbit AI's on-orbit compute workloads and telemetry operations. PowerBank Corporation is a collaboration partner of Orbit AI. The tracker, accessible at https://www.intellistake.com/orbit-tracker and sourced from Orbit AI's public orbital data, provides continuous visibility into Genesis-1's orbital position, velocity, altitude, and operational status. PowerBank views this transparency as a practical mechanism for observing sustained satellite operations following Genesis-1's successful deployment and ongoing mission activity. Operating AI workloads directly in orbit, rather than relying exclusively on ground-based processing, provides an early reference point for how future AI infrastructure may evolve under real-world physical constraints. PowerBank views Genesis-1 as an initial operational node within a broader space-enabled compute architecture, where repeatable uptime and observable execution are foundational for scale. Announcement • Jan 01
PowerBank Corporation's 2.1 Mw Phillips Rd Project Successfully Completes Major Interconnection Study on Path to Permitting PowerBank Corporation announced a new 2.1 MW solar project located on a closed landfill in upstate New York, known as Phillips Rd. The Company secured site control on the Project in the form of a land lease and received positive results through its Coordinated Electric System Interconnection Review (CESIR) and now can proceed to permitting with local authorities. The Phillips Rd project is poised to qualify for New York’s Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751, with an estimated first-year average rate of USD 0.0971/kWh. This VDER rate ensures fair compensation for clean energy delivered to the grid, reinforcing the project’s financial and environmental viability. The Project is also expected to qualify for incentives under NYSERDA’s NY-Sun program and federal Investment Tax Credits under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025. Upon securing permits and financing, PowerBank will commence construction, with the project set to operate as a community solar initiative. This innovative model enables renters, businesses, and homeowners to subscribe to the solar farm, receiving bill credits and savings without installing on-site equipment. By feeding clean energy directly into the local grid, the Project offers an accessible pathway for New Yorkers to embrace the clean energy transition. PowerBank’s proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the projects’ execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The Phillips Rd project advances New York’s path to 10 GW of solar by 2030. The State leads the United States in community solar capacity, having achieved the New York State Climate Act 6 GW solar goal in the fall of 2024. There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Announcement • Oct 10
PowerBank Corporation, Annual General Meeting, Dec 11, 2025 PowerBank Corporation, Annual General Meeting, Dec 11, 2025. Announcement • Aug 29
PowerBank's 5.7 MW North Main St Project Successfully Completes Major Interconnection Study on Path to Permitting Project to Power Equivalent of 670 Homes PowerBank Corporation announced that its 5.7 MW North Main St ground-mount solar project (the “Project”), located in upstate New York, has completed its Coordinated Electric System Interconnection Review (CESIR), and now can proceed to the next important milestone: permitting the Project site. The North Main St project is poised to qualify for New York’s Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751, with an estimated first-year average rate of USD 0.0971/kWh. This VDER rate ensures fair compensation for clean energy delivered to the grid, reinforcing the project’s financial and environmental viability. Upon securing permits and financing, PowerBank will commence construction, with the project set to operate as a community solar initiative. This innovative model enables renters, businesses, and homeowners to subscribe to the solar farm, receiving bill credits and savings without installing on-site equipment. By feeding clean energy directly into the local grid, North Main offers an accessible pathway for New Yorkers to embrace the clean energy transition. PowerBank’s proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project’s execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions. The North Main St project advances New York’s ambitious Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. As a national leader in community solar, New York accounts for nearly one-third of the United States’ 6.2 GW of installed solar capacity, and PowerBank is honored to contribute to this transformative milestone. There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Announcement • Aug 21
Powerbank Corporation Receive $1.74 Million Grant from Net Zero Atlantic for Community Solar Projects PowerBank Corporation announced that it has received $1.74 million in funding for the Sydney, Brooklyn, and Petpeswick Community Solar projects in Nova Scotia. The funding is provided through the Nova Scotia Department of Environment and Climate Changes,by the Nova Scotia Department of Energy managed by the Net Zero Atlantic program. Under this grant, PowerBank will receive $340,000 for the Sydney Solar Project, $440,000 for the Petpeswick Solar Project, and $960,000 for the Brooklyn Solar Project. The Projects are 48% owned by AI Renewable Flow-through Fund, and 52% owned by a non-profit organization or Potlotek First nation. PowerBank is the lead developer and builder for the Projects, and PowerBank will partner with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the Projects. PowerBank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there. The Nova Scotia Community Solar Program (CSP), is the first CSP in Canada, supporting Nova Scotia's commitment to 80% renewable energy by 2030 and electricity grid reaching net-zero by 2035. The program aims to add 100 MW of solar generation to the grid to help reduce reliance on fossil fuels, mitigate climate change and foster local economic growth. The clean energy generated by community solar projects feeds directly into the local electricity grid. Depending on the size and number of panels a community solar project has, renters, and business or homeowners can earn credits on their electric bill and save $0.02/kWh from the electricity that is generated by a project. By subscribing to a project, community members can access the benefits of renewable energy without having to install panels on their building or land. Announcement • Jul 08
Solarbank's 7.2 Mw Hoadley Hill Project Successfully Completes Major Interconnection Study on Path to Permit Project to Power Equivalent of 850 Homes SolarBank Corporation announced that its 7.2 MW Hoadley Hill Road ground-mount solar project in upstate New York has officially cleared a key milestone: the Coordinated Electric System Interconnection Review (CESIR). This critical regulatory green light paves the way for the next major steps -securing full site permits, financing and preparing for construction. Announcement • May 15
SolarBank Corporation to Report Q3, 2025 Results on May 15, 2025 SolarBank Corporation announced that they will report Q3, 2025 results After-Market on May 15, 2025 Announcement • May 02
SolarBank Corporation Plans to Develop 7.2 MW Glor Rd Project in New York SolarBank Corporation announced its plans to develop a 7.2 MW DC ground-mount solar power project known as the Glor Rd project (the ‘Project’) on a site located in upstate New York. With a secured site lease and interconnection study underway, the Project is another key addition to SolarBank's expanding development pipeline—which exceeds one gigawatt—as well as the Company's commitment to advancing community solar. The Project will be eligible for the VDER rate compensation mechanism under NY Public Utility Commission case 15-E-0751. The year one average compensation is currently projected at $0.0971/kWh. The VDER (Value of Distributed Energy Resources) rate for solar projects in New York is the rate payable to the owner of the Project in return for the energy that is supplied to the grid. Assuming the Project's interconnection study is successful, the Company will continue to work to complete the permitting process and secure the necessary financing for the construction of the Project. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority NY-Sun Program. The Company is targeting incentives of up to $0.245/W DC for the Project. These incentives are a one time payment that are used to help support the financing required for the Project. Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. Solar Simplified handles all customer-facing activities for the Company's community solar projects, allowing it to focus on developing and expanding its renewable energy portfolio. Solar Simplified's expertise in acquisition, enrollment, and management ensures full project subscription and maximized revenue from day one. With a business model that aligns seamlessly with the Company's, this partnership drives sustainable growth, enabling the Company to accelerate development, bring more projects online each year, and create greater value for its business and the communities served by the Company. There are several risks associated with the development of the Project. The development of any project is subject to receipt of interconnection approval, receipt of a community solar contract, required permits, the continued availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Announcement • Apr 23
SolarBank Corporation Plans 4.584 MW Forest Hill Rd Solar Project in Development by SolarBank in New York SolarBank Corporation is targeting incentives of up to $0.345/W DC for the Project. These incentives are a one time payment that are used to help support the financing required for the Project. Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Announcement • Mar 27
7.2 MW Hoadley Hill Rd Solar Project in Development by SolarBank Corporation in New York SolarBank Corporation announced its plans to develop a 7.2 MW DC ground-mount solar power project known as the Hoadley Hill Rd project (the "Project") on a site located in upstate New York. With a secured site lease and interconnection approval requested, the Project is another key addition to SolarBank's expanding development pipeline—which exceeds one gigawatt—as well as the Company's commitment to advancing community solar. Assuming the Project's requested interconnection approval is received, the Company will continue to work to complete the permitting process and secure the necessary financing for the construction of the Project. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority ("NYSERDA") NY-Sun Program. Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. Announcement • Mar 25
SolarBank Corporation has completed a Follow-on Equity Offering in the amount of $8.500003 million. SolarBank Corporation has completed a Follow-on Equity Offering in the amount of $8.500003 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 2,394,367
Price\Range: $3.55
Discount Per Security: $0.2485
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 2,394,367
Transaction Features: Registered Direct Offering Announcement • Mar 22
SolarBank Corporation has filed a Follow-on Equity Offering in the amount of $8.500003 million. SolarBank Corporation has filed a Follow-on Equity Offering in the amount of $8.500003 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 2,394,367
Price\Range: $3.55
Discount Per Security: $0.2485
Transaction Features: Registered Direct Offering Announcement • Mar 06
Solarbank Corporation Provides Update on 2.9 Mw Project in Gainesville, New York SolarBank Corporation announced an update on the development of a 2.9 MW DC ground-mount solar power project known as the Silver Springs project on a site located in Gainesville, New York. The Project has achieved a development milestone in receiving positive interconnection results via a completed Coordinated Electric System Interconnection Review (CESIR). Now that the Company has received a positive interconnection determination, it will proceed with permitting the Project site. SolarBank believes it can navigate supply chain issues to continue to develop projects with positive economics. Following receipt of the necessary permits and financing, the Company intends to commence the construction of the Project. Once completed, each of the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Announcement • Mar 05
Solarbank Corporation Provides Update on 7.2 MW North Main Project in Wyoming County, New York SolarBank Corporation announced an update on the development of a 7.2 MW DC ground-mount solar power project known as the North Main project on a site located in Wyoming County, New York. The Project has completed its Coordinated Electric System Interconnection Review (CESIR), and now can proceed to the next important milestone, permitting the Project site. Following receipt of the necessary permits and financing, the Company intends to commence construction of the Project, which upon completion, will be operated as a community solar project. Announcement • Feb 10
SolarBank Corporation to Report Q2, 2025 Results on Feb 14, 2025 SolarBank Corporation announced that they will report Q2, 2025 results After-Market on Feb 14, 2025 Announcement • Nov 11
SolarBank Corporation to Report Q1, 2025 Results on Nov 14, 2024 SolarBank Corporation announced that they will report Q1, 2025 results After-Market on Nov 14, 2024 Announcement • Oct 15
Solarbank Corporation Announces Its Plans to Develop a 7 MW DC Ground-Mount Solar Power Project Known as the Stauffer Project SolarBank Corporation announced its plans to develop a 7 MW DC ground-mount solar power project known as the Stauffer project (the "Project") on a site located in Lancaster County, Pennsylvania. This Project is in addition to the 13.8 MW DC project announced last week, both of which are part of a set of projects expected to total 24.8 MW DC in size. The proposed community solar project - which would be one of the first of its kind in Pennsylvania - would provide residents, including renters and those without suitable rooftops, with access to solar energy without the commitment of installing panels on their own properties. Announcement • Oct 07
SolarBank Corporation, Annual General Meeting, Dec 12, 2024 SolarBank Corporation, Annual General Meeting, Dec 12, 2024. Announcement • Sep 20
SolarBank Corporation to Report Fiscal Year 2024 Results on Sep 30, 2024 SolarBank Corporation announced that they will report fiscal year 2024 results After-Market on Sep 30, 2024 Announcement • Jul 09
SolarBank Corporation (NEOE:SUNN) completed the acquisition of Solar Flow-Through L.P. SolarBank Corporation (NEOE:SUNN) entered into a definitive agreement to acquire Solar Flow-Through L.P. for CAD 37.21 million on March 19, 2024. The aggregate consideration of up to CAD 41.8 million in an all-stock deal. The Transaction values SFF at up to CAD 45 million but the consideration payable excludes the common shares of SFF currently held by SolarBank. Under the terms of the Transaction, SolarBank has agreed to issue up to 5,859,567 common shares of SolarBank ("SolarBank Shares") for an aggregate purchase price of up to CAD 41.8 million. The consideration for the Transaction consists of an upfront payment of approximately 3,575,638 SolarBank Shares (CAD 25.53 million) and a contingent payment representing up to an additional 2,283,929 SolarBank Shares (CAD 16.31 million) that will be issued in the form of contingent value rights, representing CAD 4.50 per SFF common share acquired. The transaction values SFF at up to CAD 45 million but the consideration payable excludes the common shares of SFF currently held by SolarBank. SolarBank will provide 0.3845938 for each share. On closing of the Transaction, Matthew Wayrynen, the current CEO of SFF, will join the Board of Directors of the Company and Olen Aasen will step down as board member but remain as General Counsel to the Company. In the event that the Solar-Flow enters into an agreement to effect an Acquisition Proposal that is a Superior Proposal in accordance with Section 6.2 then the Solar-Flow shall immediately pay to the SolarBank the Termination Fee of CAD 1.8 million by wire transfer of immediately available funds.
The Transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval at a special meeting expected to be held in April, 2024 by: (i) 66 2/3% of the votes cast by SFF common shareholders and 66 2/3% of votes cast by holders of SFF tracking shares (the "SFF Tracking Shares") present in person or represented by proxy, voting together as a single class; (ii) 66 2/3% of the votes cast by SFF common shareholders present in person or represented by proxy, voting together as a separate class; and (iii) 66 2/3% of the votes cast by holders of SFF Tracking Shares present in person or represented by proxy, voting together as one separate class. The Board of Directors of SolarBank have unanimously approved the Transaction. The Board of Directors of SFF have unanimously approved the Transaction, with SFF directors recommending that SFF shareholders vote in favour of the Transaction. The Transaction is subject to normal course regulatory approvals and the satisfaction of customary closing conditions. Subject to the satisfaction of these conditions, SolarBank expects that the Transaction will be completed during the second calendar quarter of 2024. The Company will pay an advisory fee in connection with the closing of the Transaction. In calendar year 2023, SFF reported revenue of CAD 9.2 million. Evans & Evans, Inc. has provided a fairness opinion to the Board of Directors of SFF. Jamie Kariya of Blake, Cassels & Graydon LLP acted as legal advisor to SolarBank. Eric Doherty of Borden Ladner Gervais acted as legal advisor to Solar Flow. The transaction was approved at a special meeting held on June 19, 2024.
SolarBank Corporation (NEOE:SUNN) completed the acquisition of Solar Flow-Through L.P. on July 8, 2024. Announcement • May 15
SolarBank Corporation Updates Revenue Guidance for the Full Fiscal Year June 30, 2024 SolarBank Corporation updated revenue guidance for the full fiscal year June 30, 2024. For the year, the company expected $56 million to $61 million. Reported Earnings • May 14
Third quarter 2024 earnings released: EPS: CA$0.13 (vs CA$0.12 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.13 (up from CA$0.12 in 3Q 2023). Revenue: CA$24.1m (up CA$23.4m from 3Q 2023). Net income: CA$3.51m (up 14% from 3Q 2023). Profit margin: 15% (down from 435% in 3Q 2023). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$5.80, the stock trades at a trailing P/E ratio of 50.7x. Average trailing P/E is 41x in the Renewable Energy industry in the US. Board Change • Apr 09
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. President, CEO & Director Richard Lu is the most experienced director on the board, commencing their role in 2014. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 21
SolarBank Corporation (NEOE:SUNN) entered into a definitive agreement to acquire Solar Flow-Through L.P. for CAD 41.8 million. SolarBank Corporation (NEOE:SUNN) entered into a definitive agreement to acquire Solar Flow-Through L.P. for CAD 41.8 million on March 20, 2024. The aggregate consideration of up to CAD 41.8 million in an all-stock deal. The Transaction values SFF at up to CAD 45 million but the consideration payable excludes the common shares of SFF currently held by SolarBank. Under the terms of the Transaction, SolarBank has agreed to issue up to 5,859,567 common shares of SolarBank ("SolarBank Shares") for an aggregate purchase price of up to CAD 41.8 million, representing $4.50 per SFF common share acquired. The consideration for the Transaction consists of an upfront payment of approximately 3,575,638 SolarBank Shares (CAD 25.53 million) and a contingent payment representing up to an additional 2,283,929 SolarBank Shares (CAD 16.31 million) that will be issued in the form of contingent value rights. The Transaction will be carried out by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval at a special meeting expected to be held in April, 2024 by: (i) 66 2/3% of the votes cast by SFF common shareholders and 66 2/3% of votes cast by holders of SFF tracking shares (the "SFF Tracking Shares") present in person or represented by proxy, voting together as a single class; (ii) 66 2/3% of the votes cast by SFF common shareholders present in person or represented by proxy, voting together as a separate class; and (iii) 66 2/3% of the votes cast by holders of SFF Tracking Shares present in person or represented by proxy, voting together as one separate class.
The Board of Directors of SolarBank have unanimously approved the Transaction. The Board of Directors of SFF have unanimously approved the Transaction, with SFF directors recommending that SFF shareholders vote in favour of the Transaction. The Transaction is subject to normal course regulatory approvals and the satisfaction of customary closing conditions. Subject to the satisfaction of these conditions, SolarBank expects that the Transaction will be completed during the second calendar quarter of 2024. On closing of the Transaction, Mr. Matthew Wayrynen, the current CEO of SFF, will join the Board of Directors of the Company and Mr. Olen Aasen will step down as board member but remain as General Counsel to the Company. The Company will pay an advisory fee in connection with the closing of the Transaction. In calendar year 2023, SFF reported revenue of CAD 9.2 million.
Evans & Evans, Inc. has provided a fairness opinion to the Board of Directors of SFF. Announcement • Feb 29
Solarbank Corporation Appoints Chelsea L. Nickles to its Board of Directors as Independent Director SolarBank Corporation announced that it has appointed Chelsea L. Nickles to its Board of Directors as an independent director. Ms. Nickles is a renewable energy professional with more than 20 years of experience contributing to a net zero world. For nearly the past decade, Ms. Nickles has been focusing on developing offshore wind projects in multiple jurisdictions with rsted, the global leader in offshore wind. Ms. Nickels currently holds the title of Director with rsted and also serves as a director for several offshore wind companies where she helps to steer their success. Prior to joiningrsted, Ms. Nickles worked as a lawyer in the Projects, Energy, Natural Resources and Infrastructure group with Allen &Overy LLP in London, England. Ms. Nickles holds a Bachelors of Arts (honours) from Acadia University and obtained a juris doctor from the University of Calgary in 2009. Announcement • Nov 30
SolarBank Corporation Reaffirms Earnings Guidance for the Fiscal Year Ending June 30, 2024 SolarBank Corporation reaffirmed earnings guidance for the fiscal year ending June 30, 2024. For the period, Company expects revenue between $45 million and $50 million. Announcement • Nov 04
SolarBank Corporation (CNSX:SUNN) completed the acquisition of 49.9% stake in OFIT RT Inc. from N. Fine Investments Limited and Linden Power Inc. SolarBank Corporation (CNSX:SUNN) entered into share purchase agreement to acquire 49.9% stake in OFIT RT Inc. from N. Fine Investments Limited and Linden Power Inc. on October 23, 2023. SolarBank will issue 278,875 common shares as consideration for the acquisition of 49.9% stake in Purchased Entities. Pursuant to the terms of the SPAs, SolarBank will acquire 49.9% ownership of OFIT RT Inc. where Whitesand First Nation owns the remaining shares of OFIT RT Inc. In a related transaction, SolarBank will also acquire 49.9% ownership of OFIT GM Inc. where the Town of Kapuskasing owns the remaining shares of OFIT GM Inc. The closing of the Transaction is subject to certain customary conditions including the receipt of consents from lenders to the Purchased Entities, landlords for the leases of the solar sites and shareholders of the Purchased Entities.
SolarBank Corporation (CNSX:SUNN) completed the acquisition of 49.9% stake in OFIT RT Inc. from N. Fine Investments Limited and Linden Power Inc. on November 2, 2023. Announcement • Nov 03
SolarBank Corporation (CNSX:SUNN) completed the acquisition of 49.9% stake in Ofit Gm Inc. from N. Fine Investments Limited and Linden Power Inc. and Dr. Richard Lu. SolarBank Corporation (CNSX:SUNN) entered into share purchase agreement to acquire 49.9% stake in Ofit Gm Inc. from N. Fine Investments Limited and Linden Power Inc. and Dr. Richard Lu on October 23, 2023. SolarBank will issue 278,875 common shares as consideration for the acquisition of 49.9% stake in Purchased Entities. Pursuant to the terms of the SPAs, SolarBank will acquire 49.9% ownership of Ofit Gm Inc. where Kapuskasing owns the remaining shares of Ofit Gm Inc. In a related transaction, SolarBank will also acquire 49.9% ownership of OFIT RT Inc. where the Town of Whitesand First Nation owns the remaining shares of OFIT RT Inc. The closing of the Transaction is subject to certain customary conditions including the receipt of consents from lenders to the Purchased Entities, landlords for the leases of the solar sites and shareholders of the Purchased Entities.
SolarBank Corporation (CNSX:SUNN) completed the acquisition of 49.9% stake in Ofit Gm Inc. from N. Fine Investments Limited and Linden Power Inc. and Dr. Richard Lu on November 2, 2023. Announcement • Oct 31
Solarbank Corporation Provides Revenue Guidance for the Full Year of 2024 SolarBank Corporation provided revenue guidance for the full year 2024. For the period, Company expected revenue to be between $45 million and $50 million. Announcement • Oct 15
SolarBank Corporation, Annual General Meeting, Dec 14, 2023 SolarBank Corporation, Annual General Meeting, Dec 14, 2023. Announcement • Jul 22
SolarBank Corporation Receives Positive Interconnection Results Via Completed Coordinated Electric System Interconnection Review on 7MW DC Ground-Mount Solar Power Project SolarBank Corporation announced that it has received positive interconnection results via a completed Coordinated Electric System Interconnection Review (CESIR) on a 7MW DC ground-mount solar power project that is under development by the Company in upstate New York that is known as the Hardie Project. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. Now that the Company has received a positive interconnection determination, it will proceed with permitting the Project site. Following receipt of the necessary permits and financing, the Company intends to commence the construction of the Project. Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. There are several risks associated with the development of the Project. The development of any project is subject to receipt of required permits, the continued availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Announcement • Jun 23
SolarBank Corporation (CNSX:SUNN) acquired 67% stake in US1 Project and VC1 Project in New York for approximately $0.9 million. SolarBank Corporation (CNSX:SUNN) acquired 67% stake in US1 Project and VC1 Project in New York for approximately $0.9 million on June 21, 2023.SolarBank Corporation (CNSX:SUNN) completed the acquisition of 67% stake in US1 Project and VC1 Project in New York on June 21, 2023. Announcement • Jun 22
An Unknown buyer acquired 67% interest in Two operating solar projects of Solar Alliance Energy Inc. in New York from Solar Alliance Energy Inc. for $0.97 million. An Unknown buyer acquired 67% interest in Two operating solar projects of Solar Alliance Energy Inc. in New York from Solar Alliance Energy Inc. for $0.97 million on June 21, 2023. The sale of the interest in the Projects was completed through the settlement of a promissory note due to the acquirer that had a principal and interest balance of $0.97336072 million, eliminating this obligation from Solar Alliance’s balance sheet. Solar Alliance will maintain a 33% interest in the two projects (the “Projects”), enabling the Company to continue to benefit from the economics of the Projects.
An Unknown buyer completed the acquisition of 67% interest in Two operating solar projects of Solar Alliance Energy Inc. in New York from Solar Alliance Energy Inc. on June 21, 2023. Announcement • Jun 01
Solarbank Corporation Provides Revenue Guidance for the Full Year Ended June 30, 2023 SolarBank Corporation provided revenue guidance for the full year ended June 30, 2023. For the year, Company expected revenue of between $17 million and $20 million. 
