PowerBank Highlights High-Functioning Projects Across Independent Power Producer Portfolio

Press Release

Geddes, US1, and VC1 Projects Producing Power as Operating IPP Assets

Toronto, Ontario, June 22, 2026 — PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) a leader in independent energy development and asset ownership in North America, is pleased to share that the Geddes, US1, and VC1 projects (the “Projects”), three independently owned power projects in New York State totaling to approximately 4.48 MW, are all functioning well going into the summer months. The Projects are included in the 100 MW of energy capacity PowerBank has already built and are operational examples of the future of its 1 GW+ development.

The Geddes project is enrolled in NYSERDA’s NY-Sun program as a Community Solar project. As a Community Solar project, Geddes benefits from participation in New York’s Value of Distributed Energy Resources compensation mechanism, regulated by the New York Public Service Commission. VDER eligibility lasts for a minimum of 25 years of operations. For 2026, it is estimated that the Geddes project will benefit from an average VDER rate of $0.1103 per kilowatt-hour of solar energy exported to the grid, based on NYSERDA’s VDER Calculator.

The US1 project has offtake secured by a 25-year Power Purchase Agreement with the Village of Union Springs, New York, and provides power to the Village through net metering. The VC1 project has offtake secured by a 25-year Power Purchase Agreement with the Village of Cazenovia, New York and provides power to the Village through net metering.

PowerBank will ensure a proactive approach to operations, with regular preventive maintenance throughout the term, and timely vegetation management to prevent panel shading and preserve site access. Real-time monitoring will ensure rapid identification and resolution of corrective workflows. PowerBank employees regularly visit these assets to meet with contractors and provide further oversight of operations.

This operational expertise and development pipeline positions the Company to help meet the surging electricity demand reshaping North American power markets. As artificial intelligence and digital infrastructure push electricity needs to record levels. Goldman Sachs Research is projecting that global data center power demand will rise as much as 175% by 20301, and McKinsey estimates that data centers could consume nearly 12% of all U.S. electricity by the end of the decade2. Distributed solar assets like the Projects deliver exactly the kind of fast-to-deploy power generation that can come online without waiting years for grid interconnection.

There are several risks associated with the continued operation of the Projects. The Projects are dependent on grid infrastructure that can have unexpected utility curtailments, preventing a project from exporting its full generated capacity to the grid. Additional risks include reduced capacity due to extreme weather events, shortage of trained operations and maintenance (O&M) technicians that can delay routine preventative upkeep and critical system repairs, and degradation of solar panels over time.

Please refer to “Forward-Looking Statements” for additional discussion of the assumptions and risk factors associated with the Projects and statements made in this press release.

About PowerBank Corporation

PowerBank Corporation is a vertically integrated and independent North American energy company helping to power the digital economy. The Company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable, resilient, and behind-the-meter power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI and digital infrastructure drive unprecedented electricity demand, PowerBank is uniquely positioned to deliver the speed, scale, and energy independence that the next generation of power consumers requires, without waiting years for grid interconnection. The Company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built. To learn more about PowerBank, please visit www.powerbankcorp.com.

For further information, please contact:​

PowerBank Corporation
Tracy Zheng
Email: ir@powerbankcorp.com
Phone: 289.439.4718

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