PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), announced the installation of its first 4.99 MW Battery Energy Storage System (BESS) at the SFF-06 project site in Cramahe, Ontario, marking its official entry into the battery storage sector. Backed by a $25.8 million green loan from RBC and acquired through a $45 million transaction with Solar Flow-Through Funds Ltd., the project is 50% owned by PowerBank and 50% by First Nations partners. The system benefits from a 22-year IESO contract with premium pricing and qualifies for a 30% Clean Technology Investment Tax Credit. Civil and electrical work is being executed by Anvil Crawler under a $1.85 million contract. While progress continues at SFF-06, development of the related 903 project remains delayed due to pending municipal approvals and local opposition, prompting a notice of potential force majeure to the IESO.

To view the full press release, visit https://ibn.fm/wUQXH

About PowerBank

PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects inâ?¯Canadaâ?¯and theâ?¯USA. The Company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leadingâ?¯North Americaâ?¯markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. To learn more about PowerBank, please visitâ?¯www.powerbankcorp.comâ?¯.

This report contains forward-looking information. Please refer to https://ibn.fm/1V6Go for additional details.

NOTE TO INVESTORS:â?¯The latest news and updates relating to SUUN are available in the company's newsroom at https://ibn.fm/SUUN

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