Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., secured $1.74 million in government funding to support three community solar projects across Nova Scotia. According to the company’s announcement, the Sydney, Brooklyn, and Petpeswick projects, once operational, will generate a total of 12.4 megawatts (“MW”) of direct current (“DC”) electricity, feeding clean power directly into the local grid (https://ibn.fm/e9gKm).
The funding is being distributed under the Nova Scotia Department of Environment and Climate Change, administered by the Department of Energy and managed by Net Zero Atlantic. The breakdown of funding is as follows:
Ownership of the projects is shared between AI Renewable Flow-through Fund (48%) and non-profit or Indigenous partners such as the Potlotek First Nation (52%). PowerBank will act as lead developer and builder, partnering with Trimac Engineering, a Nova Scotia-based firm.
The projects fall under the Nova Scotia Community Solar Program (“CSP”), the first of its kind in Canada. The program supports the province’s goal of generating 80% of electricity from renewable sources by 2030 and achieving a net-zero grid by 2035.
Through CSP, community members, including renters and businesses, can subscribe to local solar projects and receive credits on their electricity bills, typically saving around $0.02 per kilowatt-hour (“kWh”). This model makes solar accessible without the need for installing panels on homes or commercial properties.
The initiative is also expected to stimulate local economic activity by supporting engineering, construction, and long-term operations within the province.
For PowerBank, the grant underscores its strategy of expanding beyond U.S. markets into Canada. PowerBank positions itself as a high-growth renewable energy developer. To date, the company has completed more than 100 MW of solar capacity and is advancing a development pipeline of over one gigawatt. Its portfolio spans distributed and community solar, as well as battery energy storage systems (“BESS”).
The company has already delivered over 100 MW of community solar projects in the United States and sees Nova Scotia as a key growth opportunity as community solar programs develop across Canada. Dr. Richard Lu, President and CEO of PowerBank, said the funding will help ensure the long-term success of these initiatives:
“This funding from Net Zero Atlantic will go far towards the development of long-lasting solar projects that bring clean energy and energy savings to Nova Scotia,” said Dr. Lu. “With over a decade of proven experience in solar development and operations—including community solar, commercial and industrial installations, and other government-led initiatives—PowerBank brings the expertise needed to the successful implementation of Nova Scotia’s Community Solar projects.”
For more information, visit the company’s website at https://PowerBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “Community Solar Projects Receive $1.74 Million Grant from Net Zero Atlantic” and dated August 19, 2025, for additional details on the information, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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