PowerBank Corporation completed a registered direct offering of 7,000,000 common shares, raising U.S.$4.2 million in gross proceeds from two new long-term institutional investors. The company plans to use the net proceeds to fund its independent power producer project portfolio, working capital and general corporate purposes.
The shares were issued under an effective Form F-10 shelf registration statement, with A.G.P./Alliance Global Partners acting as sole placement agent. PowerBank describes itself as a vertically integrated North American energy company with a potential development pipeline of over one gigawatt and more than 100 megawatts of projects built.
PowerBank Corporation filed a Form 6-K to furnish a Securities Purchase Agreement and related documents for a new equity financing. The company agreed to sell common shares to institutional purchasers at a per share purchase price of $3.55, with A.G.P./Alliance Global Partners acting as placement agent on a delivery-versus-payment basis.
The financing is being conducted under PowerBank’s Canadian short-form base shelf prospectus and its effective U.S. Form F-10 registration statement, which together authorize offerings of up to C$200,000,000 of securities. The 6-K expressly incorporates the new exhibits, including legal consents and the placement agreement, into the existing Form F-10 framework.
PowerBank Corporation reports that its subsidiary Abundant Solar Power Inc. has signed an Operations and Maintenance Services Agreement with Honeywell for a 21‑megawatt portfolio of three community solar projects in New York State built on a Honeywell industrial brownfield site.
The O&M deal follows PowerBank’s earlier sale of the projects to Honeywell and its role under an engineering, procurement, and construction agreement to build them through to commercial operation, including successful commissioning of the SB 13-2 project.
PowerBank highlights that it has now developed and constructed over 100 megawatts of clean energy projects across North America and has a potential development pipeline exceeding one gigawatt, positioning the company to serve traditional solar offtakers and growing demand from AI-driven data center power needs.
PowerBank Corporation is issuing 7,000,000 common shares in a registered direct offering to two new long term institutional investors, with expected gross proceeds of approximately US$4.2 million before fees and expenses. Closing is expected on or about July 1, 2026, subject to customary conditions.
The company plans to use the net proceeds to advance its independent power producer project portfolio, working capital and general corporate purposes, including U.S. Federal government projects such as those with the Department of Military and Naval Affairs. A.G.P./Alliance Global Partners is acting as sole placement agent under an effective Form F-10 shelf registration.
PowerBank Corporation signed a Joint Development Agreement with Nodiac.ai to develop modular, containerized data centers co-located at PowerBank’s existing solar and battery energy storage sites across North America. The goal is to turn current power assets into AI compute hubs and create new revenue streams from infrastructure already in place.
The agreement moves the partnership from a prior letter of intent into a defined framework that covers site selection, project development and cash flow sharing. By building data centers where generation, land and permits already exist, the companies aim to bring AI computing capacity online in months instead of years, addressing power bottlenecks that are slowing traditional large-scale data centers.
This initiative supports PowerBank’s strategy to make AI compute infrastructure and modular data centers a core growth vertical alongside its renewable energy platform. With a development pipeline of over 1 GW and more than 100 MW of built capacity, PowerBank sees substantial potential to co-locate distributed AI infrastructure on its sites, tying long-term digital demand to its clean energy portfolio.
PowerBank Corporation reported a new U.S. Federal Government contract worth $2,950,000 to build a covered parking canopy solar project with electric vehicle charging at the Armed Forces Reserve Center in Farmingdale, New York. The work will be performed by its U.S. subsidiary Abundant Solar Power Inc. under a Department of Defense and Department of the Army award.
This is PowerBank’s first federal government project, following recent New York state-level contracts. The company highlights more than 100 megawatts of completed clean energy projects and a development pipeline exceeding one gigawatt as the foundation for executing this project.
PowerBank Corporation reported that its 7.01 MW DC / 5 MW AC community solar project SB 13-2 in upstate New York has reached commercial operation. The ground-mount facility is designed to power about 875 homes annually with clean energy.
The project is part of a US$41 million transaction with Honeywell covering a three-project, 21 MW DC community solar portfolio that PowerBank developed, sold and then built under an EPC agreement. SB 13-2 is located on an industrial brownfield owned by Honeywell and is expected to operate as a community solar site under the NYSERDA NY-Sun Program.
PowerBank notes it has developed and constructed over 100 megawatts of clean energy projects across North America and has a potential development pipeline exceeding one gigawatt. The company highlights this milestone as supporting its strategy to use its solar and battery energy storage sites to serve traditional offtakers and growing AI and modular data center power demand.
PowerBank Corporation filed a Form 6-K highlighting that its Geddes, US1, and VC1 solar projects in New York, totaling about 4.48 MW, are operating well heading into summer. These assets are part of over 100 MW of capacity already built and support the company’s more than 1 GW development pipeline.
The Geddes project is a Community Solar asset enrolled in NYSERDA’s NY-Sun program and is expected in 2026 to receive an average Value of Distributed Energy Resources rate of $0.1103 per kilowatt-hour for exported power, with eligibility lasting at least 25 years. The US1 and VC1 projects each have 25-year Power Purchase Agreements with the Villages of Union Springs and Cazenovia, respectively, and supply power through net metering.
PowerBank emphasizes proactive operations, including preventive maintenance, vegetation management, and real-time monitoring, to keep these distributed solar projects performing reliably. The company positions these assets as examples of fast-to-deploy generation that can help address growing electricity demand from artificial intelligence and digital infrastructure, while acknowledging risks such as grid curtailments, extreme weather, labor constraints in operations and maintenance, and solar panel degradation over time.
PowerBank Corporation is advancing 23 distributed solar and energy storage projects in New York and Pennsylvania, supported by equipment procurement agreements with an estimated $242.3 million USD in total construction value and about $94.7 million USD in potential U.S. Investment Tax Credits.
The portfolio is expected to add roughly 97 MW DC of solar and 42 MWh of storage, enough to power about 11,000 homes once financed, built and operating. PowerBank structured two procurement milestones and completed or plans substantial physical work to qualify the projects under the IRS Physical Work Test before the July 4, 2026 deadline, aiming to lock in tax credit eligibility despite regulatory uncertainty.
PowerBank Corporation announced that the project owner has executed a Standard Small Generator Interconnection and Operating Agreement for the 3.15 MW DC Petpeswick community solar project in Halifax, Nova Scotia. The project has secured municipal permits and is now moving into environmental permitting.
The Petpeswick project is expected to supply clean energy equivalent to approximately 288 homes annually and generate roughly $1.727 million in lifetime electricity savings for the local community, with subscribers receiving about $0.02/kWh in bill credits. PowerBank targets starting ground preparation in the fall of 2026, subject to final permitting and financing.
The project is owned by AI Renewable Flow-through Fund, with PowerBank as lead developer and Trimac Engineering as local engineering partner. PowerBank highlights more than 50 MW of completed community solar projects, over 100 MW of projects built, and a development pipeline exceeding 1 GW, as it expands in the growing Nova Scotia community solar market.