POWERBANK Corp (NASDAQ: SUUN)

POWERBANK Corp is a renewable energy company focused on the development, construction, and operation of solar photovoltaic (PV) power generation projects and Battery Energy Storage Systems (BESS) in Canada and the United States. The company plays a pivotal role in the clean energy sector, aiming to support the energy transition in North America through the deployment of distributed renewable power assets. POWERBANK Corp's mission is to scale up as a leading developer, owner, and operator of a significant fleet of distributed renewable power assets that have economic and technical value.

The company generates revenue through a variety of services, including Engineering, Procurement, and Construction (EPC) services, Operations and Maintenance (O&M) services, and Independent Power Producer (IPP) operations. POWERBANK Corp's primary products and services include the development, permitting, design, and construction of behind-the-meter (BTM) solar power generation, community solar gardens, and utility-scale solar farms. The company also provides renewable and clean energy project development, EPC, O&M, and asset management services for a fee. The general customer base includes municipalities, First Nations, community cooperatives, regional economic planning authorities, commercial and industrial businesses, and landowners that value the benefits of resilient renewable energy solutions.

• Development: POWERBANK Corp identifies, evaluates, and secures control of suitable solar, BESS, and other renewable development sites. The company obtains grid interconnection from utilities, acquires permits from government authorities, and engages solar energy subscribers and/or Power Purchase Agreement (PPA) clients as off-takers. A PPA defines the commercial terms for the sale of electricity between the seller and the buyer, including the project's commercial operation date, schedule for delivery of electricity, penalties for under-delivery, payment terms, and termination. The company manages PPAs and off-take agreements as an asset manager.

• EPC: POWERBANK Corp engineers, procures, and constructs safe, efficient, and eco-friendly solar and BESS for industrial, commercial, community, and utility electricity markets. The company uses high engineering standards and the latest technology to deliver these projects.

• Financing: POWERBANK Corp secures sponsor equity, tax equity, long-term debt, and construction financing to deploy BESS, solar, and other renewable power plants.

• Independent Power Producer: POWERBANK Corp commenced operating as an IPP in 2023. The company operates and maintains solar power plants for maximized production and oversees solar power subscribers through customer support centers in Boston and Chicago.

• O&M: Operations and Maintenance (O&M) refers to the set of activities that enable power plants to perform their task of producing energy at or above the expected level of performance, in compliance with applicable regulations. POWERBANK Corp's O&M services include preventative maintenance, reactive maintenance, and comprehensive monitoring and reporting.

POWERBANK Corp holds a strong position within the renewable energy industry, particularly in the solar and BESS sectors. The company's core competency lies in deeply understanding and mastering the 'local playbook' of standard offer programs in numerous energy markets in North America. This expertise allows POWERBANK Corp to successfully gain market share while maintaining low overhead and capital-at-risk. The company's leadership team brings over 100 years of combined expertise in the renewable and clean energy industry, coupled with a strongly defined philosophy and financial vision for successful growth. POWERBANK Corp's competitive advantages include its ability to provide simple, reliable, and energy-resilient solutions to its customers, significantly reducing their carbon footprint. The company has extensive experience working with over 1,000 customers, including municipalities, First Nations, community cooperatives, regional economic planning authorities, commercial and industrial businesses, and landowners.

The company's customer base is diverse and includes municipalities, First Nations, community cooperatives, regional economic planning authorities, commercial and industrial businesses, and landowners. POWERBANK Corp has extensive experience working with over 1,000 customers, providing them with resilient renewable energy solutions. The company serves more than 3,500 retail electricity customers as community solar subscribers through its contracted customer care centers in Boston and Chicago. POWERBANK Corp's leadership team has developed, financed, and built over 600 commercial and industrial (C&I) projects in Ontario, Minnesota, and New York. The company's success in the solar energy market is a result of its creativity, innovation, and ability to think outside of the box in designing responses to the growing challenges facing the power industry. POWERBANK Corp has managed over $300 million in project financing to date and has access to low-cost development financing by collaborating with tax-advantaged investment funds seeking Canadian Renewable Conservation Expenses (CRCE) in Canada or federal Investment Tax Credits (ITCs) in the United States.