POWERBANK Corp
For the period ended Jun 30, 2025. Filed Oct 2, 2025.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Oct 2, 2025
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PBK$0.13-7.2%Stored close · as of Nov 6, 2026
Contents
EX-99.5 · Projects under development
Projects under development
Projects under development comprise (i) projects owned by the Company that have not yet achieved a Notice to Proceed (“NTP”), and (ii) projects that have been divested, but for which the Company has retained the engineering, procurement and construction (“EPC”) agreement and continues to perform development activities on behalf of the purchaser
| Name | Location | Size (MWDC) | Timeline | Milestone | Expected Cost (in Canadian dollar) | Cost Incurred (in Canadian dollar) | Sources of Funding | Current Status |
|---|---|---|---|---|---|---|---|---|
| 261 Township (Phase2) | Alberta, Canada | 4.2 | Q3 FY2026 | NTP | 200,000 | 5,500 | Equity financing, working capital | Phase 1 construction started in Q1 FY2025. Interconnection for Phase 2 is being prepared to submit after the interconnection agreement is executed for phase 1 with Fortis. |
| Gainesville | New York, USA | 7 | Q3 FY2026 | NTP | 1,500,000 | 1,127,144 | Development fee | The project has been sold to Qcells in Q2 FY2025. Construction expected to start in Q2 FY2026 subject to resolution of permitting issues. See “Legal Matters and Contingencies”. |
| Hwy 28 | New York, USA | 7 | Q2 FY2026 | NTP | 2,750,000 | 2,529,861 | Development fee | The project has been sold to Qcells in December 2024. Construction expected to start in Q2 FY2026. |
| SUNY | New York, USA | 28 | Q4 FY2026 | Completion of interconnection studies, engineering and permitting, along with interconnection deposit, and procurement bid application fee | 2,900,000 | 481,761 | Equity financing, working capital | The interconnection application to New York Independent System Operator has been accepted into the new cluster study program. The project will move on to the customer engagement window, which will list any project physical infeasibility screens and a scooping meeting for the phase 1 study. |
| NS Projects | Nova Scotia, Canada | 31 | Q3 FY2026 | NTP | 900,000 | 12,542 | Service fee | The Company will complete the interconnection project with Nova Scotia Power Inc., lead in-depth engineering studies, and complete the solar design. Construction is expected to begin in Q3 2026. Projects are owned by a third party. |
| Oak Orchard | New York, USA | 7 | Q3 FY2026 | NTP | 1,900,000 | 1,151 | Equity financing, working capital | The project is under interconnection study. |
| Boyle | New York, USA | 5.4 | Q3 FY2026 | NTP | 3,900,000 | 23,792 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. |
| Silver Springs | New York, USA | 2.9 | Q3 FY2026 | NTP | 1,300,000 | 70,335 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. |
Management’s Discussion and Analysis
| Grandview | Pennsylvania, USA | 13.8 | Q2 FY2027 | NTP | 1,200,000 | - | Equity financing, working capital | The project is under interconnection study. |
|---|---|---|---|---|---|---|---|---|
| Stauffer | Pennsylvania, USA | 7 | Q3 FY2026 | NTP | 1,250,000 | 2,115 | Equity financing, working capital | The Company has secured a lease over the project site and will continue to work to complete the next steps in permitting, interconnection and securing the necessary financing for construction of the project. |
| North Main | New York, USA | 7.2 | Q3 FY2026 | NTP | 1,250,000 | 22,714 | Equity financing, working capital | The project is under interconnection study. |
| Skaneateles (Jordan Rd 1&2) | New York, USA | 14.4 | Q2 FY2026 | NTP | 2,330,000 | 2,014,150 | Equity financing, working capital | The project received interconnection approval and is in the final stage of the permitting process. |
| Viridi Solar and BESS | New York, USA | 3.06 MW (Solar) 1.2 MWH (BESS) | Q3 FY2026 | NTP | 1,300,000 | 1,152,239 | Equity financing, working capital | The Company has secured a lease over the project site and will continue to work to complete the next steps in permitting, interconnection and securing the necessary financing for construction of the project. |
| Jordan Rd, Gainesville | New York, USA | 7.2 | Q4 FY2026 | NTP | 1,900,000 | 68,186 | Equity financing, working capital | The project is under interconnection study. |
| Glen Rd | New York, USA | 4.3 | Q4 FY2026 | NTP | 1,500,000 | 15,758 | Equity financing, working capital | The project is under interconnection study. |
| Hoadley Hill Rd | New York, USA | 7.2 | Q4 FY2026 | NTP | 1,900,000 | 88,302 | Equity financing, working capital | The project is under interconnection study. |
| Forest Hill Rd | New York, USA | 4.584 | Q4 FY2026 | NTP | 1,500,000 | 14,666 | Equity financing, working capital | The project is under interconnection study. |
| Glor Rd | New York, USA | 7.2 | Q4 FY2026 | NTP | 1,900,000 | 26,946 | Equity financing, working capital | The project is under interconnection study. |
| Day Hollow | New York, USA | 2.8 | Q4 FY2026 | NTP | 700,000 | 28,309 | Equity financing, working capital | The project is under interconnection study. |
| 903 (BESS) | Ontario, Canada | Discharge: 4.74 Storage: 18.96 | Q1 FY2026 | NTP | 12,001,382 | 8,917,359 | Equity financing, working capital | EPC project. EPC agreement entered Oct. 3, 2023. Debt financing has been secured through RBC. Commencement of construction remains subject to receipt of final permits. There is no certainty that final permits will be received. |
| OZ-1 (BESS) | Ontario, Canada | Discharge: 4.74 Storage: 18.96 | Q1 FY2026 | NTP | 12,001,382 | 9,323,959 | Equity financing, working capital | EPC project. EPC agreement entered Oct. 3, 2023. Commencement of construction remains subject to receipt of financing and final permits. There is no certainty that financing or final permits will be received. See “Legal Matters and Contingencies”. |
Management’s Discussion and Analysis
During the current fiscal year certain projects that were previously disclosed were cancelled as follows:
| ● | The site in Black Creek, NY representing 3.2 MW DC that was announced on May 6 2024. Development was discontinued due to high interconnection costs, which impacted the project’s overall financial viability. |
| ● | Projects in the Orleans County representing 30 MW that were announced on April 22, 2024. These projects were cancelled due to the costs associated with the Coordinated Electric System Interconnection Review (“CESIR”), which rendered these projects financially unsustainable. |
| ● | Project in Clay, New York, representing 7.00 MW DC that was announced on August 15, 2024. The project was cancelled because it was determined to not be financially viable. |
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