POWERBANK Corp SEC Filings

PowerBank Corporation reported a larger quarterly net loss while expanding its renewable energy pipeline and financing capacity. For the three months ended December 31, 2025, revenue was $3.1 million versus $4.1 million a year earlier, mainly because no development fees were recognized in the quarter. For the six-month period, revenue rose to $22.3 million from $19.2 million, driven by higher EPC services and IPP production.

The quarterly net loss widened to $7.7 million from $1.7 million, reflecting increased professional fees and about $3.3 million of bad debt, inventory write-offs and other one-time costs. Six‑month net loss improved to $6.7 million from $28.2 million, helped by the absence of prior-year impairments and a favorable fair value change on contingent value rights. Cash rose to $12.9 million and working capital turned positive at $4.4 million, supported by equity raises and project debt.

Operationally, PowerBank sold three New York community solar projects for approximately US$41 million while retaining EPC contracts, advanced multiple U.S. solar and Canadian BESS projects, secured a US$8 million NY Green Bank revolving facility, and set up equity programs including a $200 million shelf and a US$15 million at-the-market offering.

PowerBank Corporation has entered a definitive subscription agreement for a strategic US$500,000 investment in Orbit AI, following the successful “Orbit AI Genesis” satellite mission in December 2025. The deal includes an option to invest an additional US$500,000 within the next 12 months, giving PowerBank a continued path to increase its stake.

Orbit AI’s Genesis satellite demonstrated an “Orbital Cloud” that combines on-orbit blockchain validation, AI inference computing and 24/7 solar-powered autonomy in low Earth orbit. PowerBank aims to support future missions with solar energy and thermal control systems as Orbit AI targets deploying 5,000 satellites by 2030 in a space, AI and blockchain market the release cites at over USD$700 billion of potential. The filing also notes that Orbit AI’s CFO is related to PowerBank’s CEO, and that the CEO abstained from the board vote approving the transaction.

PowerBank Corporation has signed two contracts with Intellistake Technologies to move from beta testing into Phase 1 deployment of the IntelliScope Enterprise Hub AI agents across its business development and engineering functions.

The deal covers a public-facing AI communications agent for PowerBank’s website and an internal multi‑agent intelligence platform focused initially on U.S. renewable energy development, helping assess project sites, grants, and regulatory conditions. The combined Year 1 value of the two platforms is approximately CA$278,000, including implementation and subscription services, with an option to extend into a multi‑year subscription. Subject to stock exchange approval, PowerBank plans to pay for the agreements by issuing 121,723 common shares at a deemed price of $2.29 per share. PowerBank and Intellistake share a common director, Paul Sparkes, who did not participate in negotiating or approving the transaction.

PowerBank Corporation completed an at-the-market equity offering, raising gross proceeds of about $13.68 million USD through the sale of 7,738,625 common shares under its previously announced program.

The company states that net proceeds have been or will be used to fund development of its renewable energy project pipeline, support its strategy as an independent power producer, cover investor relations expenditures, and provide working capital for ongoing operations. Management highlights that PowerBank had approximately $138 million in assets as of September 30, 2025, and references a development pipeline exceeding one gigawatt and over 100 megawatts of renewable capacity already developed.

PowerBank Corporation received $920,000 from the term conversion of the construction loan for its Geddes community solar project in upstate New York. The original construction-to-mini-perm loan from Seminole Financial Services was $2,600,000, used to complete the project’s build-out.

Following substantial completion and permission to operate, the loan has converted to a mini-perm facility with a principal balance of $1,695,000 and a maturity date of January 20, 2032. The Geddes Project is now operating as a community solar asset, allowing multiple renters and homeowners to benefit from bill credits without installing rooftop panels.

The company highlights risks that a default could lead the lender to demand full repayment and potentially enforce its security and guarantees. PowerBank positions Geddes within a broader North American development pipeline of over one gigawatt of renewable and clean energy projects.

PowerBank Corporation uses this report to share its view on how major technology companies are changing the way they secure clean power for fast-growing data center and AI needs. It highlights recent multibillion-dollar clean energy deals by Google, Amazon, and Meta as signs of a shift from traditional power purchase agreements toward direct ownership of renewable assets.

PowerBank describes how this trend could create different opportunities for independent power producers, from being acquisition targets to selling project portfolios or signing PPAs. The company notes a development pipeline of over one gigawatt and more than 100 megawatts of completed renewable projects, along with expertise in battery energy storage systems.

PowerBank also references a planned expansion into advanced data center power solutions through collaboration with Orbit AI but states it has elected not to invest in Orbit AI and has no current power supply, asset sale, or corporate contracts with hyperscalers. The release includes extensive forward-looking statements and risk disclosures about industry conditions, financing, regulation, and execution challenges.

PowerBank Corporation uses this update to highlight how its renewable energy strategy aligns with rising power needs for artificial intelligence, especially in space-based computing. The company emphasizes its collaboration framework with Smartlink AI’s Orbit AI initiative, which launched the DeStarlink Genesis-1 satellite in December 2025 carrying NVIDIA AI hardware powered by space-grade solar panels. Genesis-1 is described as already operating in orbit and producing solar power while running AI inference, forming the first step toward an Orbital Cloud satellite network.

PowerBank plans to support future Orbit AI missions with solar and thermal energy management services, though it has not invested in Orbit AI and any remuneration terms remain to be agreed. The company connects this space-focused vision with its core business, noting a development pipeline of over one gigawatt and more than 100 megawatts of solar and battery storage projects already built across North America.

PowerBank Corporation filed a Form 6-K featuring a press release that highlights Orbit AI’s publicly accessible real-time tracking dashboard for the Genesis-1 satellite. The dashboard shows Genesis-1’s orbital position, velocity, altitude, and operational status, giving continuous visibility into the satellite’s uptime and activity.

PowerBank, a collaboration partner of Orbit AI, frames Genesis-1 as an early operational node in a space-based compute architecture where solar-powered infrastructure supports advanced AI workloads in orbit as a complement to power-constrained terrestrial data centers. The company notes that some operational metrics come from Orbit AI and have not been independently verified, and it states that PowerBank has elected not to invest in Orbit AI at this time and that remuneration terms for any services have not yet been determined.

PowerBank Corporation filed a Form 6-K to share that it has executed a lease agreement for a 5 MW AC hybrid solar plus battery energy storage project in New York, called the NY-Sapbush project. The project is expected to be eligible for incentives under NYSERDA’s NY-Sun and Retail Energy Storage Incentive Programs, which support solar and storage deployment in the state.

The company is beginning preliminary screening as part of the grid interconnection process and, assuming interconnection approval, plans to complete permitting and secure third-party financing to build the project. Once completed, NY-Sapbush is expected to operate as a community solar plus storage project, allowing local residents and businesses to subscribe, receive bill credits, and benefit from lower-cost clean power without installing equipment on their own properties.

PowerBank highlights its experience with over 100 MW of completed projects and a development pipeline exceeding 1 GW as support for executing this project. The company also describes multiple risks, including dependence on interconnection approvals, permits, financing, construction execution, and the continuation of government incentives and policy support for solar and battery storage.