This press release makes up a “designated press release” for the functions of the Business’s prospectus supplement dated February 17, 2026 to its brief kind base rack prospectus dated May 7, 2025.
The Business remains in the procedure of starting the initial screening analysis as part of the affiliation procedure. Presuming invoice of affiliation approval, the Business will work to finish the allowing procedure and protect the needed funding for the building and construction of the Job.
PowerBank’s tested competence, with over 100 MW of finished tasks and an advancement pipeline surpassing 1 GW, underpins the job’s execution. Strategic collaborations and institutional-grade advancement abilities position PowerBank to provide trusted, high-impact renewable resource options.
The Job advances New york city’s course to 10 GW of dispersed solar and 6GW of energy storage by 2030. The State leads the United States in neighborhood solar capability, having actually accomplished the New york city State Environment Act 6 GW solar objective in the fall of 2024.
Deal Update
About PowerBank Corporation
POSITIVE DECLARATIONS
SOURCE PowerBank Corporation
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TORONTO, April 13, 2026/ CNW/ – PowerBank Corporation ( NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) (“ PowerBank” or the “ Business“), a leader in North American energy facilities advancement and property ownership, is happy to reveal that it has actually carried out a lease contract on a 5 MW a/c hybrid solar plus battery energy storage job called the NY-Conklin Hill Rd job (the “ Job“), in upstate New york city. The Job is anticipated to be qualified for rewards under the New york city State Energy Research Study and Advancement Authority (“ NYSERDA“) NY-Sun Program and the Retail Storage Reward Program.
The quick development of wind and solar energy and the increasing need for electrical power from information centers are making batteries a requirement. They save surplus renewable resource for when it’s not windy or bright, and keep a balance in between energy supply and need. There has actually been a 90 percent drop in the expense of batteries over the last 15 years as brand-new factories have actually begun line, leading to substantial development in this sector internationally.
When finished, the Job will likely be run as a hybrid neighborhood solar plus energy storage job. Neighborhood solar is a solar job with access to the regional electrical power grid. When the job is linked and creating electrical power, energy from the website feeds into the regional power grid. Depending upon the size and variety of panels the job has, lots or perhaps numerous occupants and property owners can conserve cash from the electrical power that is created by the job. By signing up for a task, an electrical power client can make credits on their electrical costs on a monthly basis from their part of the solar that’s created by the job, accessing the advantages of solar and energy storage without setting up any devices at their area. This permits electrical power clients to understand a minimized expense per kilowatt-hour from the power they take in versus basic energy rates.
There are a number of dangers connected with the advancement of the Job. The advancement of any job goes through invoice of a neighborhood solar agreement, invoice of affiliation approval, invoice of needed authorizations, the accessibility of third-party funding plans for the Business and the dangers connected with the building and construction of a solar energy job. In addition, federal governments might modify, decrease or remove rewards and policy assistance plans for solar energy, which might lead to future Job no longer being financial. Please describe “Forward-Looking Statements” for extra conversation of the presumptions and danger aspects connected with the Job and declarations made in this news release.
PowerBank formerly revealed the sale of its Gainesville, Highway 28, Hardie and Rice Roadway solar energy tasks (the “Projects”) to a 3rd party (the “Owner”) (see news release here), that included PowerBank’s ongoing engagement to build the Projects through to industrial operation under EPC contracts. The advancement and building and construction of the Projects went through the invoice of needed authorizations. As the Gainesville and Highway 28 tasks have not at this time got the needed authorizations, the Owner has actually supplied seen to PowerBank to resell the Gainesville and Highway 28 tasks back to PowerBank (the “Sell-Back Notification”). As an outcome of the Sell-Back Notification, the deals for those 2 tasks has actually been ended and any funds advanced to PowerBank will be gone back to the Owner. PowerBank stays positive in the hidden worth of both possessions. PowerBank will examine its tactical alternatives for the Gainesville and Highway 28 tasks, which might consist of establishing them as owned independent power manufacturer (IPP) possessions or pursuing a sale to another third-party purchaser. The Hardie and Rice Roadway tasks are currently under building and construction and are not impacted by the Sell-Back Notification– with racking setup total at Rice Roadway– and both are on track for module shipment in the 2nd half of 2026 and industrial operation in Q1 2027 following spring remobilization. Since the initial deal date, the Hardie job and Rice Rd job had a combined overall job worth of US$ 22.88 million to PowerBank.
PowerBank Corporation is an independent eco-friendly and tidy energy job designer and owner concentrating on dispersed and neighborhood solar tasks in Canada and the U.S.A.. The Business establishes solar and Battery Energy Storage System (BESS) tasks that offer electrical power to energies, industrial, commercial, community and domestic off-takers. The Business optimizes returns by means of a varied portfolio of tasks throughout several leading The United States and Canada markets consisting of tasks with energies, host off-takers, neighborhood solar, and virtual net metering tasks. The Business has a possible advancement pipeline of over one gigawatt and has actually established eco-friendly and tidy energy tasks with an integrated capability of over 100 megawatts developed. To get more information about PowerBank, please check out www.powerbankcorp.com.
This press release includes positive declarations and positive info within the significance of Canadian securities legislation (jointly, “positive declarations”) that associate with the Business’s present expectations and views of future occasions. Any declarations that reveal, or include conversations regarding, expectations, beliefs, strategies, goals, presumptions or future occasions or efficiency (typically, however not constantly, through using words or expressions such as “will likely result”, “are anticipated to”, “anticipates”, “will continue”, “is prepared for”, “expects”, “thinks”, “approximated”, “means”, “strategies”, “projection”,” forecast”, “method”, “unbiased” and “outlook”) are not historic truths and might be positive declarations and might include price quotes, presumptions and unpredictabilities which might trigger real outcomes or results to vary materially from those revealed in such positive declarations. In specific and without restriction, this press release includes positive declarations referring to the Business’s expectations concerning its market patterns and general market development; the Business’s development techniques the anticipated energy production from the solar energy job discussed in this news release; the variety of homes anticipated to be powered; the anticipated cost savings for regional citizens; the invoice of affiliation approval, allows and funding to be able to build the Job; the invoice of rewards for the Job; expectations relating to the Gainesville and Highway 28 tasks; and the size of the Business’s advancement pipeline. No guarantee can be considered that these expectations will show to be appropriate and such positive declarations consisted of in this press release need to not be unduly trusted. These declarations speak just since the date of this press release.
Positive declarations are based upon specific presumptions and analyses made by the Business due to the experience and understanding of historic patterns, present conditions and anticipated future advancements and other aspects it thinks are suitable, and go through dangers and unpredictabilities. In making the forward looking declarations consisted of in this press release, the Business has actually made numerous product presumptions, consisting of however not restricted to: acquiring the needed regulative approvals; that regulative requirements will be kept; basic organization and financial conditions; the Business’s capability to effectively perform its strategies and intents; the accessibility of funding on sensible terms; the Business’s capability to draw in and maintain competent personnel; market competitors; the services and products provided by the Business’s rivals; that the Business’s present great relationships with its provider and other 3rd parties will be kept; and federal government aids and financing for renewable resource will continue as presently pondered. Although the Business thinks that the presumptions underlying these declarations are sensible, they might show to be inaccurate, and the Business can not guarantee that real outcomes will follow these positive declarations. Provided these dangers, unpredictabilities and presumptions, financiers need to not position excessive dependence on these positive declarations.
Whether real outcomes, efficiency or accomplishments will comply with the Business’s expectations and forecasts goes through a variety of recognized and unidentified dangers, unpredictabilities, presumptions and other aspects, consisting of those noted under ” Forward- Looking Declarations” and “Danger Aspects” in the Business’s most just recently finished Yearly Details Type, and other public filings of the Business, that include: the Business might be negatively impacted by unpredictable solar energy market and market conditions; the execution of the Business’s development method relies on the ongoing accessibility of third-party funding plans; the Business’s future success depends partially on its capability to broaden the pipeline of its energy organization in a number of essential markets; federal governments might modify, decrease or remove rewards and policy assistance plans for solar and battery storage power; basic worldwide financial conditions might have a negative influence on our operating efficiency and outcomes of operations; the Business’s job advancement and building and construction activities might not succeed; establishing and running solar Job exposes the Business to numerous dangers; the Business deals with a variety of dangers including Power Purchase Agreements (” PPAs”) and project-level funding plans; any modifications to the laws, policies and policies that the Business goes through might provide technical, regulative and financial barriers to the purchase and usage of solar energy; the marketplaces in which the Business contends are extremely competitive and progressing rapidly; an anti-circumvention examination might negatively impact the Business by possibly raising the rates of essential materials for the building and construction of solar energy tasks; foreign exchange rate changes; a modification in the Business’s reliable tax rate can have a substantial unfavorable influence on its organization; seasonal variations in need connected to building and construction cycles and weather might affect the Business’s outcomes of operations; the Business might be not able to produce enough capital or have access to external funding; the Business might sustain significant extra insolvency in the future; the Business goes through dangers from supply chain concerns; dangers connected to inflation and tariffs; unforeseen service warranty expenditures that might not be properly covered by the Business’s insurance coverage; if the Business is not able to draw in and maintain essential workers, it might not have the ability to contend efficiently in the renewable resource market; there are a restricted variety of buyers of utility-scale amounts of electrical power; compliance with ecological laws and policies can be costly; business obligation might negatively enforce extra expenses; the future effect of any worldwide pandemic on the Business is unidentified at this time; the Business has actually restricted insurance protection; the Business will be dependent on infotech systems and might undergo destructive cyberattacks; the Business might end up being based on lawsuits; there is no assurance on how the Business will utilize its readily available funds; the Business will continue to offer securities for money to money operations, capital growth, mergers and acquisitions that will water down the present investors; and future dilution as an outcome of fundings.
The Business carries out no commitment to upgrade or modify any positive declarations, whether as an outcome of brand-new info, future occasions or otherwise, other than as might be needed by law. Brand-new aspects emerge from time to time, and it is not possible for the Business to forecast all of them, or examine the effect of each such aspect or the level to which any aspect, or mix of aspects, might trigger outcomes to vary materially from those consisted of in any positive declaration. Any forward- looking declarations consisted of in this press release are specifically certified in their totality by this cautionary declaration.