PowerBank

What PowerBank does

PowerBank Corporation (NASDAQ: PBK; Cboe CA: PBK; formerly SolarBank Corporation) is a Toronto-headquartered, vertically integrated renewable energy developer that designs, builds, owns, and operates distributed solar photovoltaic systems and battery energy storage systems (BESS) across Canada and the United States. Founded in 2013 and operating from offices in Toronto and Rochester, New York, the company reports more than 100 MW of developed capacity and a development pipeline exceeding 1 GW across active markets including Ontario, Nova Scotia, and Alberta in Canada, and New York, Pennsylvania, Maryland, North Carolina, Virginia, and Texas in the U.S. Operations are run through wholly owned subsidiaries including Abundant Solar Power Inc. (U.S. development) and Solar Flow-Through Funds Ltd. (acquired July 2024 for ~$45M), with project vehicles such as SUNN LT23 Corp.

PowerBank's core offering is organized into five integrated modules — Development, EPC (Engineering, Procurement & Construction), O&M (Operations & Maintenance), IPP (Independent Power Production), and Data Centers. The company monetizes solar and storage assets through a mix of long-term contracts: 25-year Power Purchase Agreements with municipalities (Villages of Union Springs and Cazenovia, NY), 22-year IESO capacity contracts in Ontario (e.g., 4.99 MW Cramahe BESS SFF-06 at $1,221/MW per business day vs. program weighted-average of $876/MW), NYSERDA NY-Sun community solar subscriptions under the VDER mechanism (e.g., Geddes 2026 average VDER rate of $0.1103/kWh), commercial land and rooftop leases up to 35 years, and recurring IPP revenue that grew 1,508% to $9.3M in 2025. Federal and state tax credit monetization — including ~$94.7M in safe-harbored Investment Tax Credits across a 23-project, $242.3M construction portfolio — is a meaningful value-capture layer.

The company's technology stack centers on Lithium Iron Phosphate (LFP) battery storage with 4-hour discharge duration, integrated vertically across the asset lifecycle (origination → EPC → O&M → IPP), and is increasingly augmented by an AI layer: the IntelliScope multi-agent business intelligence platform built by partner Intellistake Technologies and deployed May 2026 on sovereign AI infrastructure in Sweden, plus a public-facing AI investor relations agent live since April 8, 2026. In April 2026, PowerBank signed a Letter of Intent with Nodiac Corp. to co-locate modular edge data center infrastructure (1-15 MW) at existing solar+BESS sites across the 1+ GW pipeline, targeting neoclouds, AI labs, enterprise AI workloads, and sovereign data tenants — leveraging permitting-ready sites to deliver 12-18 month speed-to-revenue versus multi-year grid interconnection queues. The company has also made a US$500K strategic investment in Orbit AI for the Orbital Cloud / Genesis-1 satellite initiative, which successfully launched December 10, 2025 as the first operational on-orbit AI compute node.

Name

PowerBank

Legal name

PowerBank Corporation

Website

https://powerbankcorp.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

PowerBank Corporation is a Toronto-based vertically integrated renewable energy developer that designs, builds, owns, and operates distributed solar and battery energy storage systems across North America, serving C&I enterprises, municipalities, utilities, community solar subscribers, and emerging AI compute tenants.

Ownership category

akta.pro rank

Product category

Solar Energy Generation & Battery Storage

NAICS

Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE), BESS EPC, Integration & Commissioning (EUAFAAAB), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)

Keywords

• Solar energy development
• Battery energy storage
• Community solar projects
• Independent power production
• Renewable energy services

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Independent Power Producer (IPP) Revenue: Long-term, recurring revenue from owning and operating operating renewable energy assets. IPP revenues grew 1,508% to $9.3 million in 2025 (from $0.6 million in 2024) following the strategic shift to asset ownership. Sources include VDER compensation (e.g., $0.1103/kWh average for Geddes 2026), 25-year PPAs with utilities/municipalities, and IESO 22-year fixed-capacity contracts.
2. Project / Asset Sales (Development Recycle): One-time sale of completed solar development projects to institutional buyers (e.g., $41 million sale of three Elmira-area projects to Solar Advocate Development LLC for 16.87 MW; $41 million Honeywell/Elmira community solar portfolio for 21 MW DC across three projects). Includes milestone-based payments and sell-back/buyout provisions.
3. EPC (Engineering, Procurement & Construction) Services: Internal EPC delivery for own projects and contracted construction services for third-party owners; project-based/one-time revenue. Reports flag declining EPC services revenue in FY2026 Q3 as the strategic mix shifts toward IPP asset ownership.
4. Development Fees & Land Leasing Income: Recurring/one-time revenue streams from originating sites, securing leases (up to 35 years) from landowners and rooftop hosts, and earning development/transaction fees on third-party project financings and capital recycling transactions.
5. Community Solar Subscription & Net Metering Credits: Subscription-based community solar program revenue under NYSERDA's NY-Sun / VDER mechanism, plus net-metering bill-credit revenue from municipal offtake (Villages of Union Springs and Cazenovia, 25-year PPAs). Customers access solar bill credits ($0.02/kWh savings) without rooftop installation.
6. Federal & State Tax Credit Monetization: Capital value capture from U.S. federal Investment Tax Credits (30% Section 48E under the One Big Beautiful Bill Act of 2025, plus bonus adders) on owned/developed assets; eligible federal ITC across PowerBank's harbored 23-project portfolio estimated at ~$94.7M USD.
7. Future: Modular Data Center / AI Compute Revenue: Emerging revenue stream from co-locating AI compute infrastructure (with Nodiac Corp.) at PowerBank's renewable energy sites, targeting neoclouds, AI labs, enterprise AI, and sovereign data tenants. No transactions concluded to date; 12–18 month projected speed-to-revenue from permitting-ready sites.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels8 records

Core offering

PowerBank Corporation is a vertically integrated developer, builder, owner, and operator of distributed solar photovoltaic and battery energy storage system (BESS) projects across Canada and the United States, with 100+ MW built and a 1+ GW development pipeline. The company organizes its operations across five core modules — Development, Engineering Procurement & Construction (EPC), Operations & Maintenance (O&M), Independent Power Production (IPP), and Data Centers — generating revenue through long-term PPAs, community solar subscriptions, net-metering arrangements, IESO capacity contracts, and emerging AI compute infrastructure co-located at energy sites.

Product overview

PowerBank Corporation delivers a vertically integrated platform of renewable energy solutions across the full project lifecycle, organized as a core platform-plus-modules architecture. The five integrated service modules — Development, Engineering Procurement & Construction (EPC), Operations & Maintenance (O&M), Independent Power Production (IPP), and Data Centers — share a common asset base of 100 MW+ built capacity and a 1 GW+ development pipeline spanning distributed solar, community solar, battery energy storage systems (BESS), and co-located modular AI compute infrastructure across Canada and the United States. The Data Centers module is the newest strategic vertical, leveraging the existing solar + BESS assets for modular edge data center deployment (initially via the Nodiac LOI and the IntelliScope AI platform deployed on Singularity Compute sovereign infrastructure in Sweden). PowerBank's wholly owned subsidiary Abundant Solar Power Inc. runs U.S. operations, and the company also participates in the Orbital Cloud initiative with Orbit AI (Smartlink AI) for space-based solar-powered AI compute. Subsidiaries include Solar Flow-Through Funds Ltd. (acquired July 2024) and SUNN LT23 Corp., with strategic partners such as Honeywell International Inc. (SB 13-2), Solar Advocate Development LLC, AI Renewable Flow-through Fund, GrandBridge Corporation, Nodiac Corp., and Intellistake Technologies Corp.

Differentiator

Problem solved

Functional benefit

Brands

• Abundant Solar Power: PowerBank's U.S. operations subsidiary running through Abundant Solar Power Inc., a dedicated team developing distributed solar and storage projects across the United States.
• Orbital Cloud

Products and services

• Solar Project Development Services

Quantifiable outcome

• 1,508% growth in IPP revenues to $9.3M in 2025 (from $0.6M in 2024)
• +6 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability8 records

Feature8 records

Partnerships

13 partnerships are on record, tiered major enterprise customer partner, local engineering partner for nova scotia projects, core counterparty and procurement program partner, core counterparty and incentive-program partner, infrastructure technology partner, flagship strategic partnership, government / public-sector development partner, flagship strategic / r&d partnership, flagship strategic / technology partnership, project commissioning partner, recurring development partner and enterprise development customer.

• Honeywell International Inc.major enterprise customer partnerStrategic or Co-development Partner · 25 June 2026PowerBank developed and constructed the 7.01 MW DC SB 13-2 ground-mount community solar project for Honeywell in upstate New York as part of a US$41 million transaction covering a 21 MW DC portfolio of three community solar projects. The project, built on an industrial brownfield owned by Honeywell, achieved commercial operation in 2026 and will sell credits to subscribers under the NYSERDA NY-Sun Program. Ownership is set to transfer from Honeywell International Inc. to Honeywell Aerospace Inc. following Honeywell's planned spinoff on June 29, 2026.
• Trimac Engineeringlocal engineering partner for nova scotia projectsImplementation/ SI/ Consulting Partner · 16 June 2026Local Nova Scotia engineering partner on PowerBank's Nova Scotia community solar projects (Petpeswick, Sydney, Brooklyn) led by PowerBank for project owner AI Renewable Flow-through Fund. Provides municipal permits support and local engineering services for grid interconnection.
• IESO (Independent Electricity System Operator, Ontario)core counterparty and procurement program partnerStrategic or Co-development Partner · 16 June 2026Ontario's provincial grid operator and procurement counterparty; PowerBank is a Qualified Applicant under IESO procurement programs including Feed-in Tariff, Expedited Long-Term RFP (E-LT1, ELT1), and Long-Term RFP (LT1, LT2). PowerBank/Solar Flow-Through Funds Ltd. holds 22-year contracts (e.g., BESS SFF-06 Cramahe) and is preparing applications for IESO's LT2 RFP (C-1) for large-scale BESS projects (e.g., Shuniah 400 MW / 3,200 MWh).
• NYSERDA (New York State Energy Research and Development Authority)core counterparty and incentive-program partnerStrategic or Co-development Partner · 3 June 2026PowerBank is an active participant in NYSERDA's NY-Sun Program (and Inclusive Community Solar Adder / Retail Storage Incentive Program streams) and VDER compensation mechanism, securing multiple incentive awards across its NY-based community solar and BESS portfolio (e.g., Jordan Rd 1 $1,965,579 USD; NY-South Park up to $1,571,789 USD; SB 13-2; Elmira; Jordan Rd 2; Geddes; Phillips Rd). NYSERDA also administers NY Green Bank, which provided the $8M revolving facility to PowerBank.
• SingularityNET (via Intellistake) — Sovereign AI Infrastructure Providerinfrastructure technology partnerTechnology or Integration · 12 May 2026Sovereign AI infrastructure secured by Intellistake through SingularityNET's infrastructure arm (Singularity Compute), hosted in Sweden by a Swiss-incorporated provider. PowerBank's IntelliScope is the first enterprise workload deployed on this infrastructure, which operates outside U.S. CLOUD Act jurisdiction and runs on 100% renewable energy.
• Nodiac Corp. (Nodiac.ai)flagship strategic partnershipStrategic or Co-development Partner · 8 April 2026Letter of Intent (LOI) signed in April 2026 to evaluate co-locating Nodiac's modular data center infrastructure at PowerBank's portfolio of solar and battery storage system sites across Canada and the U.S. The collaboration targets 1–15 MW of distributed AI compute infrastructure deployment, leveraging existing generation, land, and permits to bypass multi-year grid interconnection queues. PowerBank has over 1 GW of solar and storage projects across New York, Ontario, Nova Scotia, and Pennsylvania. No data center transactions have been concluded to date. PowerBank's expanded strategic focus on AI compute infrastructure and modular data centers was a driver of its corporate rebrand and ticker change from SUUN/SUNN to PBK on NASDAQ and Cboe Canada effective June 3, 2026.
• New York State DMNA (Department of Military and Naval Affairs)government / public-sector development partnerStrategic or Co-development Partner · 7 April 2026Agreements secured to develop a 20 MW solar and battery storage portfolio across New York State sites (per PowerBank press releases dated October 14, 2025).
• GrandBridge Corporationflagship strategic partnershipStrategic or Co-development Partner · 3 March 2026Three-year exclusive co-development agreement signed March 3, 2026 to develop and invest in solar energy and battery storage projects with a nameplate capacity of 2 MWac or greater within GrandBridge Energy's service territory in Ontario, Canada. PowerBank leads project development and construction; GrandBridge provides capital and holds 80% ownership (20% PowerBank). Projects will be submitted under IESO procurement programs including Virtual Power Purchase Agreements and Local Generation Programs. Initial joint ventures span Brantford, Cambridge, North Dumfries, and Brant County, addressing grid congestion in Southwest Ontario.
• Smartlink AI (Orbit AI)flagship strategic / r&d partnershipStrategic or Co-development Partner · 12 February 2026US$500,000 strategic investment in Singapore-based Orbit AI following successful December 10, 2025 launch of the DeStarlink Genesis-1 satellite — the first system to integrate blockchain validation with AI inference in space. PowerBank contributed solar energy and thermal control expertise to the collaboration; option to invest an additional US$500,000 within 12 months. Orbit AI plans to deploy 5,000 satellites by 2030 in a combined orbital infrastructure market projected at over US$700 billion by 2032. Subsequent disclosures (April 7, 2026) noted mutual termination of an additional US$500,000 proposed strategic investment while maintaining the Collaboration Agreement.
• Intellistake Technologies Corp.flagship strategic / technology partnershipTechnology or Integration · 4 February 2026Two contracts signed February 4, 2026, valued at approximately C$278,000 for Year 1, covering build, deployment, initial implementation, and subscription services for IntelliScope Enterprise Hub AI agents across PowerBank's business development and engineering operations. Includes a public-facing AI communications agent live on PowerBank's website since April 8, 2026 and the internal IntelliScope business intelligence platform deployed May 2026 on sovereign AI infrastructure in Sweden (hosted by a Swiss-incorporated provider, outside U.S. CLOUD Act jurisdiction, 100% renewable energy). IntelliScope supports site selection, incentive eligibility assessment, regulatory analysis, and sentiment analysis for PowerBank's 1+ GW U.S. renewable energy pipeline. Payment to be settled via issuance of 121,723 common shares at $2.29/share; option to extend into multi-year subscription. PowerBank is Intellistake's first enterprise client deployment on this sovereign infrastructure.
• EVLO (EVLO Energy Storage)project commissioning partnerImplementation/ SI/ Consulting Partner · 6 January 2026EVLO is the commissioning partner for PowerBank's first operational BESS project (4.99 MW SFF-06) in Cramahe, Ontario, expected to reach commercial operation in January 2026.
• Solar Advocate Development LLCrecurring development partnerChannel Partner/ Reseller/ Distributor · 22 December 2025$41 million USD transaction for sale and construction of three community solar facilities in New York (Elmira, Jordan Rd 1, Jordan Rd 2) totaling 16.87 MW. PowerBank receives milestone-based payments and remains engaged for construction. The relationship is the 11th collaboration between the two companies since 2018. Includes a 60-day Sell-Back Right provision (subsequently exercised on these three projects).
• Fiera Real Estateenterprise development customerStrategic or Co-development Partner · 18 December 2025PowerBank developed a 1.45 MW rooftop solar project for Fiera Real Estate in Calgary, Alberta, achieving commercial operation in December 2025; supports Fiera's net-zero carbon emissions target by 2040 and marks PowerBank's debut as a small-scale generator in Alberta.

Scale indicators13 records

Recent moves7 records

Expansion highlights7 records

Market position

Strengths4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/solarbankcorp
• YouTubeyoutube.com/@PowerBankCorporation
• Facebookfacebook.com/SolarBankCorp
• LinkedInlinkedin.com/company/solarbankcorporation
• Instagraminstagram.com/powerbankcorp

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds9 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PowerBank