Business
$41 Million USD Transaction Accelerates PowerBank Growth Strategy
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, today announced the sale of its Elmira, Jordan Road 1, and Jordan Road 2 solar power projects (the "Projects") to Solar Advocate Development LLC (the "Owner"). The transaction, valued at approximately $41 million USD, includes PowerBank's continued engagement to construct the Projects through to commercial operation. The
About this update from Powerbank Corporation
[{"type":"list","items":[{"val":[{"type":"text","content":"Transaction Entered into with Solar Advocate Development for the Sale and Construction of Three Solar Power Projects in New York State","length":134,"tagName":"p"}]},{"val":[{"type":"text","content":"Three Community Solar Projects Totaling 16.87 MW; Strategic Sale Fuels Independent Power Producer Expansion","length":107,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":241,"olType":false},{"type":"text","content":"This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.","length":225,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, Dec. 22, 2025 /CNW/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, today announced the sale of its Elmira, Jordan Road 1, and Jordan Road 2 solar power projects (the "Projects") to Solar Advocate Development LLC (the "Owner"). The transaction, valued at approximately $41 million USD, includes PowerBank's continued engagement to construct the Projects through to commercial operation. The three community solar projects represent a combined generation capacity of 16.87 MW.","length":665,"tagName":"p"},{"type":"image","alt":"PowerBank Logo (CNW Group/PowerBank Corporation)","displaySize":"","headline":null,"caption":"PowerBank Logo (CNW Group/PowerBank Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":65,"url":"https://media.zenfs.com/en/prnewswire.com/a2c10c3b011abffd79d11e27037423aa"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/7TH827ZjHML5NcoSXfon5w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a2c10c3b011abffd79d11e27037423aa","width":400,"height":65}},"href":"https://mma.prnewswire.com/media/2850074/PowerBank_Corporation__41_Million_USD_Transaction_Accelerates_Po.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Dr. Richard Lu, CEO of PowerBank, commented: "This transaction represents a pivotal moment in PowerBank's evolution. Since 2018, we have built a trusted partner...