Project to also include the installation of electric vehicle charging stations TORONTO, June 26, 202...


          
		  
          
            
            
            Project to also include the installation of electric vehicle charging stations
,  /PRNewswire/ - PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company"), a leader in independent energy development and asset ownership in North America, is pleased to announce that it has been awarded a contract (the "Contract") to construct a photovoltaic array, electric vehicle chargers and associated infrastructure for the United States Federal Government (the "Project"). The Contract was awarded to PowerBank Corporation's US subsidiary Abundant Solar Power Inc. and was granted by the United States Department of Defense and the Department of the Army for the Armed Forces Reserve Center Farmingdale in Farmingdale, New York (the "Owner"). The AFRC Farmingdale facility serves the Army Reserve, the Naval Reserve, the Marine Corps Reserve, and the New York National Guard.
The Company responded to a federal solicitation administered by the US Army Corps of Engineers for the Project, which will provide onsite power and electric vehicle charging capabilities to the facility. The Company has received Notice to Proceed under the Contract, and will commence with the engineering, procurement and construction of the Project which will be retained by the Owner.
This is PowerBank's first project for the United States Federal Government, demonstrating the Company's experience in providing code-compliant products and services which meet all Federal Acquisition Regulations. The work is provided under the NAICS (North American Industry Classification) code 236220 for Commercial and Institutional Building Construction. This announcement follows recent state-level contracts awarded to Abundant Solar Power Inc. with the New York Department of Military and Naval Affairs for the construction of several ground-mounted and rooftop solar projects as well as battery energy storage systems.
PowerBank's President and Chief Operating Officer Andrew van Doorn commented, "Being awarded this contract by the US Army Corps of Engineers is a meaningful validation of the standard to which our team builds. Federal procurement is rigorous by design, and meeting those requirements on our first submission reflects the institutional-grade capabilities we have built over decades of delivering complex energy infrastructure. We are proud to be bringing reliable, on-site solar and EV charging to the Farmingdale facility, and we look forward to executing this project with the same discipline our clients have come to expect from PowerBank."
PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions.
There are several risks associated with the construction of the Project. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the Project and statements made in this press release.
About PowerBank Corporation
PowerBank Corporation is a vertically integrated and independent North American clean energy company helping to power the digital economy. The Company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable, resilient, and clean grid and behind-the-meter power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI and digital infrastructure drive unprecedented electricity demand, PowerBank is uniquely positioned to deliver the speed, scale, and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. 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 visit www.powerbankcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information ‎within the meaning of Canadian securities legislation (collectively, "forward-looking ‎statements") that relate to the Company's current expectations and views of future events. ‎Any statements that express, or involve discussions as to, expectations, beliefs, plans, ‎objectives, assumptions or future events or performance (often, but not always, through the ‎use of words or phrases such as "will likely result", "are expected to", "expects", "will ‎continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", ‎‎"projection", "strategy", "objective" and "outlook") are not historical facts and may be ‎forward-looking statements and may involve estimates, assumptions and uncertainties ‎which could cause actual results or outcomes to differ materially from those expressed in ‎such forward-looking statements. In particular and without limitation, this news release ‎contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the expected revenues from the Project; and the size of the Company's development pipeline. No assurance ‎can be given that these expectations will prove to be correct and such forward-looking ‎statements included in this news release should not be unduly relied upon. These ‎statements speak only as of the date of this news release.‎
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-‎Looking Statements" and "Risk ‎Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.
The Company undertakes no obligation to update or revise any ‎forward-looking statements, whether as a result of new information, future events or ‎otherwise, except as may be required by law. New factors emerge from time to time, and it ‎is not possible for the Company to predict all of them, or assess the impact of each such ‎factor or the extent to which any factor, or combination of factors, may cause results to ‎differ materially from those contained in any forward-looking statement. Any forward-‎looking statements contained in this news release are expressly qualified in their entirety by ‎this cautionary statement.‎
SOURCE PowerBank Corporation

          
        

SUUN

PowerBank Awarded $2,950,000 USD Federal Contract with the US Department of Defense and the Department of the Army for Covered Parking Canopy Solar Project

PowerBank secures DoD solar/EV project; signals pipeline growth

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Project to also include the installation of electric vehicle charging stations TORONTO, June 26, 202...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>PowerBank&#039;s Farmingdale AFRC contract marks its first federal project, validating its ability to meet stringent standards and deliver on-site solar and EV charging. With over 100 MW completed and a development pipeline exceeding 1 GW, the deal could accelerate growth and broaden federal/state solar deployments, though execution, financing, and regulatory risks remain.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>PowerBank wins DoD/Army contract for Farmingdale, NY; PV array and EV chargers.</li><li>First US Federal Government project; validates ability to meet FAR requirements.</li><li>Company cites 100 MW completed and &gt;1 GW development pipeline.</li><li>Risks include regulatory, financing, and supply-chain factors; forward-looking statements cautioned.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>PowerBank Corporation (PBK)</strong>: Awarded first US federal project; potential uplift to growth and scope.</li><li><strong>Abundant Solar Power Inc. (N/A)</strong>: US subsidiary leading on the awarded PFDC project; key execution arm.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments / Industry News. The announcement reflects a meaningful contract win in the solar+EV infra space, highlighting sector demand and federal procurement dynamics that can influence peers with similar capabilities.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Federal contract awards validate demand for solar+EV infra; potential positive peer sentiment.</li><li>PBK&#039;s 1 GW pipeline suggests meaningful growth runway for solar infra players.</li><li>Execution/financing risks could cap upside if project milestones slip.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>PBK ticker: NASDAQ: PBK; independent North American clean energy developer.</li><li>Contract: AFRC Farmingdale, NY; DoD/Army project; PV array and EV charging.</li><li>Notice to Proceed issued; engineering, procurement, construction to commence.</li><li>Operates with 100 MW completed projects; development pipeline &gt; 1 GW.</li><li>NAICS 236220: Commercial and Institutional Building Construction.</li><li>Subsidiary: Abundant Solar Power Inc.; first US Federal Government project.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>For SUUN, PowerBank&#039;s government project achievement signals sector momentum; monitor similar bids and peer reactions over the next 6–12 months.</p>
  </section>
</section>


<article>
  <section>
    <h2>PowerBank Secures Federal Contract to Build Solar Array and EV Charging at Armed Forces Reserve Center Farmingdale</h2>
    <p>PowerBank Corporation has been awarded a contract to construct a photovoltaic solar array, electric vehicle (EV) chargers and associated infrastructure for the United States Federal Government. The contract was awarded to PowerBank’s US subsidiary, Abundant Solar Power Inc., by the United States Department of Defense and the Department of the Army for the Armed Forces Reserve Center (AFRC) Farmingdale in Farmingdale, New York. The AFRC Farmingdale facility serves the Army Reserve, the Naval Reserve, the Marine Corps Reserve, and the New York National Guard.</p>
    <p>The company responded to a federal solicitation administered by the US Army Corps of Engineers for the project, which will provide onsite power and EV charging capabilities to the facility. PowerBank states that it has received Notice to Proceed under the Contract and will commence with engineering, procurement and construction, with the Owner retaining the project.</p>
  </section>

  <section>
    <h2>First U.S. Federal Government Project and Compliance</h2>
    <p><strong>This is PowerBank's first project for the United States Federal Government</strong>, demonstrating the company's experience in providing code-compliant products and services which meet all Federal Acquisition Regulations. The work is provided under the <strong>NAICS (North American Industry Classification) code 236220</strong> for Commercial and Institutional Building Construction. This announcement follows recent state-level contracts awarded to Abundant Solar Power Inc. with the New York Department of Military and Naval Affairs for the construction of several ground-mounted and rooftop solar projects as well as battery energy storage systems.</p>
  </section>

  <section>
    <h2>Executive Commentary</h2>
    <p><strong>Andrew van Doorn</strong>, PowerBank's President and Chief Operating Officer, commented on the contract: <blockquote>Being awarded this contract by the US Army Corps of Engineers is a meaningful validation of the standard to which our team builds. Federal procurement is rigorous by design, and meeting those requirements on our first submission reflects the institutional-grade capabilities we have built over decades of delivering complex energy infrastructure. We are proud to be bringing reliable, on-site solar and EV charging to the Farmingdale facility, and we look forward to executing this project with the same discipline our clients have come to expect from PowerBank.</blockquote></p>
  </section>

  <section>
    <h2>Project Capabilities and Scale</h2>
    <p>PowerBank highlights its execution capability with a track record that underpins this project. The company notes <strong>over 100 MW</strong> of completed projects and a development pipeline exceeding <strong>1 GW</strong>, illustrating its ability to deliver large-scale renewable energy solutions through strategic partnerships and institutional-grade development.</p>
  </section>

  <section>
    <h2>Project Details and Background</h2>
    <ul>
      <li>Location: Armed Forces Reserve Center Farmingdale, Farmingdale, New York</li>
      <li>Scope: photovoltaic array, electric vehicle chargers and associated infrastructure</li>
      <li>Contract status: Notice to Proceed received; engineering, procurement and construction to be performed</li>
      <li>Owner: AFRC Farmingdale facility (Army Reserve, Naval Reserve, Marine Corps Reserve, New York National Guard)</li>
      <li>Work classification: NAICS code <strong>236220</strong> for Commercial and Institutional Building Construction</li>
      <li>First U.S. Federal Government project for PowerBank</li>
    </ul>
  </section>

  <section>
    <h2>Investor & Market Context</h2>
    <p>For investors tracking market developments in renewable energy and critical infrastructure, this contract signals continued federal support for on-site solar and energy-storage projects. The project aligns PowerBank's growth strategy with federal standards and expanding demand for reliable solar power and on-site EV charging capabilities at government facilities. <strong>SUUN</strong> is referenced here for investors monitoring market coverage related to this industry, alongside broader disclosures related to project risk and execution timelines.</p>
  </section>

  <section>
    <h2>Risk Disclosure and Forward-Looking Statements</h2>
    <p>The company notes that there are risks associated with the construction of the project and advises readers to review forward-looking statements for details on assumptions and potential risk factors. Readers are encouraged to consider the typical risks associated with large-scale renewable energy projects, including regulatory approvals, financing terms, and execution timelines.</p>
  </section>

  <section>
    <h2>About PowerBank Corporation</h2>
    <p>PowerBank Corporation is a vertically integrated and independent North American clean energy company that develops, builds, owns, and operates solar and battery energy storage systems. The company delivers reliable, resilient, and clean power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI and digital infrastructure drive electricity demand, PowerBank aims to deliver speed, scale, and energy independence without long interconnection wait times. The company maintains a development pipeline of over <strong>one gigawatt</strong> and has developed renewable and clean energy projects with a combined capacity of over <strong>100 megawatts built</strong>.</p>
    <p>For more information, please visit <a href="http://www.powerbankcorp.com" target="_blank" rel="noopener">www.powerbankcorp.com</a>.</p>
  </section>

  <section>
    <h2>Forward-Looking Statements and Disclosures</h2>
    <p>This release contains forward-looking statements that reflect the company's current expectations and views of future events. Such statements involve assumptions and uncertainties that could cause actual results to differ materially from those expressed. Readers are advised to review the detailed risk factors and disclosures commonly filed with regulators. This section provides a general summary and should not be relied upon as the sole basis for investment decisions.</p>
  </section>
</article>

PowerBank's Farmingdale AFRC contract marks its first federal project, validating its ability to meet stringent standards and deliver on-site solar and EV charging. With over 100 MW completed and a development pipeline exceeding 1 GW, the deal could accelerate growth and broaden federal/state solar deployments, though execution, financing, and regulatory risks remain.

powerbank-awarded-2-950-000-usd-federal-contract-with-the-us-department-of-defense-and-the-department-of-the-army-for-covered-parking-canopy-solar-project

PowerBank Awarded $2,950,000 USD Federal Contract with the US Department of Defense and the Department of the Army for Covered Parking Canopy Solar Project

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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