PowerBank Corporation Reports Fiscal 2025 Results Amid Strategic Shift to Independent Power Producer Model

PowerBank Corporation reported fiscal 2025 revenue of C$41.5 million, representing a 29% decrease compared to the previous year, while demonstrating significant progress in its strategic transition toward an independent power producer model. The company's gross margin improved to 25%, reflecting enhanced operational efficiency despite the revenue decline. Most notably, IPP revenues surged by 1,508% to C$9.3 million, signaling the successful execution of the company's new business strategy focused on owning and operating renewable energy assets rather than solely developing them for sale.

The company posted a net loss of C$31.1 million for the fiscal year, primarily attributed to a one-time impairment charge of C$30.4 million and increased consulting costs associated with the acquisition of Solar Flow-Through Funds. CEO Dr. Richard Lu characterized FY 2025 as a transitional year for the company, emphasizing the strategic importance of scaling retained IPP assets and advancing development initiatives across North American markets. The company's progress in U.S. solar development aligns with new Investment Tax Credit rules, while expansion continues in Canadian battery storage and community solar initiatives.

PowerBank Corporation operates as an independent renewable and clean energy project developer and owner, focusing on distributed and community solar projects across Canada and the United States. The company develops solar and Battery Energy Storage System projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. This diversified approach to energy markets allows the company to maximize returns through a portfolio spanning multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering projects. Additional information about the company's operations and strategic direction can be found at https://www.powerbankcorp.com.

The company maintains a substantial development pipeline exceeding one gigawatt of potential capacity and has already developed renewable and clean energy projects with a combined capacity of over 100 megawatts that have been successfully built and operationalized. This track record positions PowerBank to capitalize on the growing demand for distributed energy resources and community-scale renewable projects. The strategic shift toward the IPP model represents a fundamental change in the company's revenue structure, moving from project development fees to long-term recurring revenue streams from electricity generation and storage services.

Investors and stakeholders can access the latest news and updates relating to SUUN through the company's dedicated newsroom at https://ibn.fm/SUUN. The full details of the fiscal 2025 results, including comprehensive financial statements and management discussion, are available in the complete press release accessible at https://ibn.fm/xrO52. The report contains forward-looking information about the company's strategic direction and market opportunities, with additional details available at https://ibn.fm/2S1S4. The transition to an IPP model reflects broader industry trends toward asset ownership and operation in the renewable energy sector, potentially creating more stable, predictable revenue streams while supporting grid reliability and decarbonization goals across North America.