PowerBank raises $13.68 million through equity offering

PowerBank Corporation (NASDAQ: SUUN) completed an at-the-market equity offering that raised $13.68 million in gross proceeds, the company announced. The renewable energy developer sold 7,738,625 common shares through the offering program.

The Toronto-based company said it will use the net proceeds to support development of its renewable energy project portfolio, strengthen its position as an independent power producer, fund investor relations activities, support ongoing operations and meet working capital requirements.

The shares were sold under an ATM offering program established through a prospectus supplement dated June 5, 2025, to its base shelf prospectus from May 7, 2025.

"This successful capital raise helps support PowerBank's growth trajectory and strategic vision," said Dr. Richard Lu, President and CEO. "The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet."

PowerBank reported approximately $138 million in assets as of September 30, 2025. The company operates as an independent renewable energy project developer and owner, focusing on distributed and community solar projects in Canada and the United States.

The company maintains a development pipeline exceeding one gigawatt and has developed over 100 megawatts of renewable energy capacity. PowerBank develops solar and battery energy storage system projects that sell electricity to utilities, commercial, industrial, municipal and residential customers across North American markets.

PowerBank trades on NASDAQ under the symbol SUUN, on Cboe Canada as SUNN, and on the Frankfurt Stock Exchange as 103.

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