POWERBANK Corp
For the period ended Sep 28, 2026. Filed Sep 28, 2026.
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Sep 28, 2026 · Filed Sep 28, 2026
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Contents
EX-99.1 · Projects under development
Projects under development
| Name | Location | Size (MWDC) | Timeline | Milestone Reached | Expected Cost (in thousands of Canadian dollar) | Cost Incurred (in thousands of Canadian dollar) | Sources of Funding | Current Status |
|---|---|---|---|---|---|---|---|---|
| 261 Township (Phase2) | Alberta, Canada | 4.2 | Q4 FY2027 | Under development | 200 | 44 | Equity financing, working capital | Phase 1 construction started in Q1 FY2025 and reached PTO in Q2 FY2026. Preliminary interconnection was completed and executed for Phase 2. Detailed Interconnection & Transmission Study was submitted in May 2026. Expected to reach NTP in Q4 FY2027. |
| Gainesville | New York, USA | 7 | Q3 FY2027 | Under development | 2,700 | 1,038 | Equity financing, working capital | Expected to reach NTP in Q3 FY2027, subject to the resolution of permitting issues. See “Legal Matters and Contingencies.” |
| Hwy 28 | New York, USA | 7 | Q4 FY2026 | NTP | 2,100 | 2,012 | Equity financing, working capital | The project has received all major discretionary permits. Site prep work has been initiated and full construction mobilization will commence on receipt of financing. NTP was reached in Q4 FY2026. |
| Jordan 1 | New York, USA | 7 | Q4 2026 | NTP | 2,000 | 1,762 | Equity financing, working capital | The project has received all major discretionary permits. Site prep work has been initiated and full construction mobilization will commence on receipt of financing. NTP was reached in Q4 FY2026. |
| Jordan 2 | New York, USA | 7 | Q4 2026 | NTP | 2,000 | 581 | Equity financing, working capital | The project has received all major discretionary permits. Site prep work has been initiated and full construction mobilization will commence on receipt of financing. NTP was reached in Q4 FY2026. |
| NS Projects | Nova Scotia, Canada | 31 | Q1 FY2027 | Under development | 900 | 51 | Service fee | Two of the three projects reached NTP in August 2027. The remaining project is expected to reach NTP in September 2026. |
| Boyle | New York, USA | 5.4 | Q1 FY2027 | Under development | 3,900 | 457 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q1 FY2027. |
| Silver Springs | New York, USA | 2.9 | Q2 FY2027 | Under development | 1,300 | 460 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q4 FY2027. |
| Grandview | Pennsylvania, USA | 4.2 | Q3 FY2027 | Under development | 2,100 | 279 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q4 FY2027. |
Management’s Discussion and Analysis
| Schwanger | Pennsylvania, USA | 4.2 | Q3 FY2027 | Under development | 2,100 | 279 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q3 FY2027. |
|---|---|---|---|---|---|---|---|---|
| North Main | New York, USA | 7.2 | Q3 FY2027 | Under development | 1,250 | 348 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q4 FY2027. |
| Skaneateles (Jordan Rd 1&2) | New York, USA | 14.4 | Q4 FY2026 | NTP | 2,450 | 2,532 | Equity financing, working capital | The projects have received all major discretionary permits in Q4 FY2026. Site prep work has been initiated and full construction mobilization will commence on receipt of financing. |
| Viridi Solar and BESS | New York, USA | 3.06 MW (Solar) 1.2 MWH (BESS) | Q4 FY2026 | NTP | 1,600 | 1,587 | Equity financing, working capital | The project has received all major discretionary permits in Q4 FY2026. Full construction mobilization will commence on receipt of financing. |
| Hoadley Hill Rd | New York, USA | 7.2 | Q3 FY2027 | Under development | 1,900 | 902 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q3 FY2027. |
| Day Hollow | New York, USA | 2.8 | Q3 FY2027 | Under development | 800 | 60 | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q3 FY2027. |
| 903 (BESS) | Ontario, Canada | Discharge: 4.74 Storage: 18.96 | Q2 FY2027 | Under development | 12,001 | 9,950 | 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 | Q2 FY2027 | Under development | 12,001 | 1,615 | 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”. |
| Honesdale | Pennsylvania, USA | 3.2 | Q4 FY2027 | Under development | 1,100 | 102 | Equity financing, working capital | The project is under interconnection study, and expected to reach NTP in Q4 FY2027. |
| DMNA | New York, USA | 17.5/2.2 MWH BESS | Q4 FY2026 | NTP | 3,934 | 409 | Equity financing, working capital | The Company has executed lease and power purchase agreements with the New York State Division of Military and Naval Affairs for the development of the project. Site prep work has commenced in Q4 FY2026 and full construction mobilization will occur on receipt of financing. |
Management’s Discussion and Analysis
| Elmira | New York, USA | 2.6 | Q4 FY2026 | NTP | 2,350 | 2,232 | Equity financing, working capital | The project has received all major discretionary permits. Site prep work has been initiated in Q4 FY2026 and full construction mobilization will commence on receipt of financing. |
|---|---|---|---|---|---|---|---|---|
| Phillips Rd | New York, USA | 2.1 | Q3 FY2027 | Under development | 500 | 237 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q4 FY2027. |
| Donovan Hill | New York, USA | 6.7 | Q4 FY2027 | Under DEvelopment | 500 | 90 | Equity financing, working capital | The project has completed its interconnection approval and is now in the permitting stage. Expected to reach NTP in Q4 FY2027. |
| Holland Glnwd | New York, USA | 5 | Q2 FY2027 | Under development | 1,500 | 38 | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
| NY-Sapbush | New York, USA | 5 | Q2 FY2027 | Under development | 1,500 | - | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
| NY-Conklin Hill Rd | New York, USA | 5 | Q2 FY2027 | Under development | 1,500 | - | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
| Round Hill Rd | New York, USA | 20 MWh | Q4 FY2027 | Under development | 1,500 | 1 | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
| Montana Rd | New York, USA | 20 MWh | Q4 FY2027 | Under development | 1,500 | - | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
| Genesee Rd | New York, USA | 20 MWh | Q4 FY2027 | Under development | 1,500 | 1 | Equity financing, working capital | The project is under interconnection study. Expected to reach NTP in Q2 FY2027. |
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.
During fiscal 2026, certain projects were cancelled due to their utility-scale nature, significant cash requirements, and management’s determination, based on further studies and analyses, that they were no longer economically viable. As a result, inventory totalling $1,856 was written off.
Management’s Discussion and Analysis
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