PowerBank promotes Andrew van Doorn to president and COO

PowerBank Corporation (NASDAQ: SUUN) announced the promotion of Andrew van Doorn to president, while he continues serving as chief operating officer. The company also disclosed a new $50 million at-the-market equity program.

Van Doorn brings 28 years of executive leadership experience in renewable energy engineering and construction, having completed over 200 MW of solar projects. He previously served as chairman of the Canadian Solar Industries Association and holds professional engineer designation in Ontario.

His solar project portfolio includes 32 MW of community solar in Minnesota, 28 MW in New York State, 20 MW of ground mount systems in Ontario, and 140 MW of rooftop installations across 600 Ontario sites, including over 500 schools. Van Doorn led development of North America's largest school rooftop solar portfolio at the Toronto District School Board with installations at over 350 sites.

"Andrew has been instrumental in driving PowerBank's operational excellence and commercial success," said CEO Richard Lu, according to the company statement.

The company simultaneously announced Tracy Zheng's move to executive vice president of corporate development.

PowerBank entered an equity distribution agreement with H.C. Wainwright & Co., Research Capital Corporation, and Research Capital USA Inc. for the at-the-market program. The company may issue up to $50 million of common shares at prevailing market prices through the agents, who will receive commissions up to 3% of gross proceeds.

The program operates under a prospectus supplement dated February 17, 2026, in both Canada and the United States. PowerBank intends to use proceeds for business objectives and general corporate purposes, including operations, debt repayment, and potential acquisitions.

PowerBank develops solar and battery energy storage projects across Canada and the United States, with a development pipeline exceeding 1 GW and over 100 MW of completed projects.

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