Honeywell Community Solar Project SB 13-2 Successfully Achieves Commercial Operation in Upstate New York

Press Release

• Project delivered under a US$41 million transaction as part of the 21 MW DC Honeywell portfolio in upstate New York
• 7.01 MW DC ground-mount solar facility now operational, capable of powering approximately 875 homes with clean energy annually
• Project expected to operate as a community solar site, selling credits to subscribers under the NYSERDA NY-Sun Program

TORONTO, Ontario, June 25, 2026 — PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) (“PowerBank” or the “Company”), a leader in independent energy development and asset ownership in North America, today announces that the 7.01 MW DC / 5 MW AC ground-mount community solar project known as SB 13-2 (the “Project”), located in upstate New York, has achieved commercial operation. The 7.01 MW Project was developed and constructed by PowerBank for Honeywell International Inc. (NASDAQ: HON) (“Honeywell”) as part of the Company’s US$41 million transaction covering a portfolio of three community solar projects totaling 21 MW DC. The Project is built on an industrial brownfield, regulated by the New York State Department of Environmental Conservation, which is owned by Honeywell. The project is planned to move from Honeywell International Inc. to Honeywell Aerospace Inc. when Honeywell completes the planned spinoff of Honeywell Aerospace on June 29, 2026.

PowerBank developed SB 13-2 as part of a three-project portfolio alongside SB 13-1 and SB-14. In September 2023, the Company completed the sale of the Projects to Honeywell and entered into an engineering, procurement, and construction (“EPC”) agreement to build the Projects through to commercial operation. The total transaction value, including the sale of the Projects and the EPC agreement, is approximately US$41 million.

Community solar allows dozens or even hundreds of renters and homeowners to save money from the electricity generated by the project. By subscribing to a community solar project, a homeowner earns credits on their electric bill every month from their share of the solar energy generated, accessing the financial and environmental benefits of solar without installing panels on their home.

Andrew van Doorn, President and COO of PowerBank, commented: “The commercial operation of SB 13-2 marks another important milestone in PowerBank’s execution of the Honeywell portfolio and demonstrates our full-cycle capability, from site origination and development through EPC construction and commercial operation. Delivering a 5 MW AC-class community solar project that is now actively supplying clean energy to New York residents reflects the strength of our project execution platform, and we look forward to the remaining projects in this portfolio reaching operation.”

Having now developed and constructed over 100 megawatts of clean energy projects across North America, with a pipeline exceeding one gigawatt, PowerBank is increasingly well-positioned to serve not only traditional utility and community solar offtakers, but also the rapidly growing demand for reliable, on-site power generation driven by AI compute infrastructure and modular data centers. As the Company executes on its newly announced strategic growth vertical, leveraging its portfolio of solar and battery energy storage sites to support the next generation of digital infrastructure, milestones like SB 13-2 reinforce the operational track record and site development expertise that will serve as the foundation for that expansion.

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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