Controlled Liquid Hydrogen Storage: The backbone of decentralized energy

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, announces that the 7.01 MW DC / 5 MW AC ground-mount community solar project known as SB-14 (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 engineering, procurement, and construction ("EPC") agreement covering a portfolio of three community solar projects totaling 21 MW DC. The Project is built on an industrial brownfield owned by Honeywell, which is regulated by the New York State Department of Environmental Conservation. The Project has been moved from Honeywell International Inc. to Honeywell Aerospace Inc., following the planned spinoff of Honeywell Aerospace on June 29, 2026.

PowerBank originated the site and developed SB-14 as part of a three-project portfolio alongside SB 13-1 and SB 13-2. This is the second project from the portfolio to reach commercial operation, and brings the total to 14.02 MW of clean energy now being generated for the community.

In September 2023, the Company completed the sale of the Projects to Honeywell and entered into an 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. PowerBank has retained an operations and maintenance contract for the Projects.

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: "Reaching commercial operation on SB-14 reflects the strength of our long-standing partnership with Honeywell and the consistent execution our team brings to every project. Developing a community solar facility on a regulated industrial brownfield requires precision at every stage, and delivering that cleanly speaks to the maturity of PowerBank's development and construction platform. We are proud of what this team has built here, and we look forward to bringing the final project across the finish line."

PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. 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.

PowerBank Corporation | www.powerbankcorp.com

Linea Energy ("Linea"), a U.S.-based renewable energy developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), announced the closing of a tax equity financing with Crux for its Watertown solar project ("Watertown" or the "Project"). Watertown is a 172 MWdc utility-scale solar energy facility located in Sanilac County, Michigan. The Watertown financing package includes a single-investor tax equity commitment from Crux. This tax equity commitment is the final commercialization transaction for the Watertown project.

Linea previously announced a $299 million project debt raise comprised of a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility. The debt financing was led by Santander Corporate & Investment Banking ("Santander"), with participation from Société Générale, S.A., Norddeutsche Landesbank Girozentrale, and Truist Bank. With this investment from Crux, the total capital raise for the project totals $457 million.

The Watertown project is contracted under a 25-year power purchase agreement ("PPA") with Consumers Energy, a regulated Michigan utility operating under the jurisdiction of the Michigan Public Service Commission.

"Watertown represents exactly the kind of project Linea was built to execute — a large-scale, long-term clean energy asset paired with creditworthy offtake and an efficient financing structure. Linea's acquisition of the Project in December 2024, and subsequent completion of development, commercialization, financing, and conversion to construction reflects the strength and depth of the Linea platform" said Cassidy DeLine, Chief Executive Officer of Linea Energy. "We're proud to be bringing meaningful economic benefits to Sanilac County and clean, reliable power to Michigan consumers. We are grateful to Crux, Santander, and our full financing team for their partnership in getting this project to the construction phase."

"Watertown is a strong example of the high-quality projects that define the market today — long-tenor contracted revenue and a financing structure that brings together the right capital in the right form. We're pleased to support Linea Energy as they bring this project to market and look forward to continuing to deploy capital alongside next-gen independent power producers like Linea as clean energy demand continues to grow," said Yonette Chung McLean, Chief Capital Officer of Crux.

Now under construction, Watertown is expected to support approximately 150 construction jobs and generate enough clean energy to power approximately 25,126 Michigan homes annually on the Midcontinent Independent System Operator ("MISO") grid, roughly equivalent to every home in a city the size of Pontiac. Commercial operations are expected to begin in mid-2027. Over the project's operating life, Watertown is projected to deliver $16.4 million in local property tax revenue to Sanilac County and reduce carbon emissions by approximately 148,389 metric tons annually, supporting a cleaner, more resilient energy grid across Michigan.

This tax equity closing marks another significant milestone in Linea's growth as a leading independent power producer in the U.S. renewable energy market.

Orrick, Herrington & Sutcliffe LLP served as borrower's counsel to Linea Energy. Sidley Austin LLP served as legal counsel to Crux.

Linea Energy | www.lineaenergy.com

Crux | www.crux.com

EnCap Investments | www.encapinvestments.com

Peak Power, a leading battery energy storage development and software company announced the commercial operation of a 3.6 MW / 7.2 MWh lithium-ion battery energy storage system at Vuteq Canada’s manufacturing facility in Woodstock, Ontario. Owned and financed by Madison Energy Infrastructure and operated by Peak Power, the system enables Vuteq Canada to reduce peak electricity costs, participate in demand response programs, and support grid reliability during periods of system stress.

The project also included the installation of six Level 2 electric vehicle chargers at the Woodstock facility through Canada’s Zero Emission Vehicle Infrastructure Program, expanding access to workplace charging for employees and visitors while supporting broader transportation electrification.

The project comes online as Vuteq Canada expands its Woodstock operations with nearly $40 million in capital investment, supported by $5 million in provincial funding, and plans to create 145 new jobs in the region. The facility expansion includes new injection molding machines, collaborative robotics, and AI-enabled manufacturing systems. The battery energy storage system and EV charging infrastructure were integrated alongside this growth to help ensure increased electrification and automation are paired with optimized energy management from day one of expanded operations.

“As industrial facilities electrify, automate, and scale, energy flexibility is becoming a competitive advantage for large industrial operators,” said Derek Lim Soo, CEO, Peak Power. “This project shows how large manufacturers can reduce exposure to peak-driven electricity costs while contributing to a more reliable and resilient grid.”

The system will offset up to 3.6 MW of grid demand during critical peak periods. In Ontario, these periods can drive higher system costs and increased reliance on marginal generation resources. By shifting load away from peak hours and providing flexible capacity, the project is expected to help Vuteq Canada reduce its exposure to Global Adjustment charges, participate in demand response programs, and pursue energy arbitrage opportunities.

Upgrades to on-site electrical infrastructure were completed to support the system’s interconnection, including the addition of two new switchgear bays. The battery will be optimized in real time by Peak Power’s energy management platform, which leverages advanced forecasting and market intelligence to reduce peak demand contribution, respond to market signals, and support system reliability during high-stress periods.

"Madison Energy Infrastructure is proud to bring this project online and support Vuteq's growth alongside Peak Power," said Cameron Bard, Chief Revenue Officer at Madison Energy Infrastructure. "We're committed to serving as their long-term partner to unlock new value, helping them manage costs, strengthen the grid, and modernize the way they use energy."

The project reflects a broader shift in the electricity sector, where large commercial and industrial facilities are moving from passive energy consumers to active participants in electricity markets. As industrial electrification, automation, and AI-enabled manufacturing increase electricity demand, flexible assets like battery storage can help manage cost volatility, reduce peak demand, and support local grid stability.

By reducing grid consumption during peak demand hours, when higher-emitting generation resources are more likely to be dispatched, the system is expected to contribute to avoided marginal emissions over time.

Peak Power | https://www.peakpowerenergy.com

Vuteq Canada | https://www.vuteq.ca/

Madison Energy Infrastructure | madisonei.com

Palladium Energy (Palladium), a leading power developer in the United States, announced the closing of a $66 million development loan facility provided by Voya Investment Management through its renewable energy and sustainable infrastructure debt platform. The financing supports the continued development of a portfolio of advanced-stage projects with executed long-term offtake contracts totaling more than 300 MW in South Carolina, part of a broader, growing pipeline of power and digital infrastructure projects that Palladium is developing across multiple markets. This transaction reflects the strength of Palladium's platform, execution capabilities, and the quality of its project pipeline.

"This financing marks a significant milestone for Palladium and a strong endorsement of the platform we have built, our team's execution capabilities, and the high-value, advanced-stage project pipeline we continue to develop," said Danny Weidlich, co-founder and Chief Executive Officer of Palladium Energy. "We are proud to work alongside Voya, who has been a strong and valued partner throughout this process. Their commitment and support will be integral as we continue to execute on our pipeline of projects and deliver sustainable, renewable energy to communities across the country."

"We are pleased to support Palladium Energy in advancing a high-quality portfolio of utility-scale solar projects. This transaction reflects our continued commitment to financing renewable energy projects and partnering with experienced developers to accelerate the transition to a more sustainable energy system" said Edward Levin, Managing Director and Co-Head Direct Infrastructure, Voya Investment Management.

King & Spalding LLP served as legal counsel to Voya Investment Management. Barnes & Thornburg LLP served as legal counsel to Palladium Energy. U.S. Bank served as administrative agent for the facility.

Palladium Energy | www.pd46energy.com 

EverLine, a leading provider of integrated technical services for critical infrastructure, announced the appointment of Ed Wiegele, an infrastructure industry veteran, as chief executive officer. A proven builder and operator of technology-enabled infrastructure businesses, Wiegele will lead EverLine as operators across North America modernize infrastructure to meet rising reliability, physical security, cybersecurity, and energy-demand requirements.

The appointment comes as pipeline and midstream operators, electric utilities, renewable energy developers, maritime, and data center owners accelerate infrastructure investments amid rapidly evolving regulatory requirements, rising power demand, growing operational complexity, and heightened security expectations.

Over the past several years, EverLine has expanded its integrated platform across midstream, electric utility, renewable energy, and emerging data center markets while growing its customer base to serve more than 300 critical infrastructure owners and operators nationwide. In 2025 alone, the company completed more than 16,000 PHMSA-related compliance inspections across more than 7,000 miles of regulated infrastructure.

The company further expanded its capabilities over the past year through transmission operator activities, with generation and NERC compliance operations spanning five of the six U.S. reliability regions and supporting 15,334 MW of generation and transmission assets under active oversight. Through its 24/7 cybersecurity and resiliency operations, EverLine processed millions of security events across thousands of nodes, eliminating an estimated 8,760 internal staffing hours annually per customer architecture.

Wiegele brings four decades of leadership experience across energy infrastructure, operational technology, and technology-enabled services. Most recently, he led Project Development for New Energy Ventures at The Williams Companies (NYSE: WMB), advancing behind-the-meter power generation solutions to support the rapidly growing energy demands of hyperscale data centers.

Prior to Williams, Wiegele founded and served as chief executive officer of Integri-Tek, a leading provider of geospatial consulting, business intelligence, and data management solutions for infrastructure owners and operators. He led the company from inception through its successful acquisition by Magnolia River. Earlier in his career, he held senior and executive leadership roles at TRC Companies, Willbros, GE, MJ Harden Associates, and Panhandle Eastern/Trunkline Gas Company, supporting some of North America's largest energy infrastructure systems.

"Critical infrastructure has become one of the defining operational challenges of our time, and operators across the energy sector are under constant pressure to adapt to changing regulations, defend against evolving cyber threats, maintain reliability, and support unprecedented growth in demand," said Ed Wiegele. "There is little margin for error. Systems must be secure, resilient, and ready to withstand scrutiny at any moment. EverLine occupies a unique position at the intersection of compliance, operations, and cybersecurity, helping customers manage increasingly complex systems with greater confidence, resilience, and operational certainty. I see tremendous opportunity to build on this foundation and help shape the future of critical infrastructure operations."

Wiegele holds a Bachelor of Science in Civil Engineering from Iowa State University.

EverLine | www.everlineus.com

TPI Composites, Inc., a leading independent manufacturer of composite wind blades, announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Going forward, TPI's Iowa and Juarez, Mexico manufacturing businesses and its global field services business will continue to be operated under the TPI brand and owned by Energy Capital Partners, a leading private equity firm specializing in energy transition, electrification, and decarbonization infrastructure. With an optimized capital structure, no debt, and the financial backing of ECP, TPI emerges as a leaner, more agile enterprise.

Accelerating the North American Wind Market

TPI is anchoring its strategy around the robust North American wind energy market. Backed by ECP's extensive portfolio and deep expertise across the energy value chain, TPI will leverage its domestic and regional manufacturing footprint to meet the demand for advanced, utility-scale wind blade production in the United States and Mexico driven by America's surging electricity demand.

With a stronger balance sheet, TPI plans to accelerate its investment in manufacturing innovations—such as its BladeAssure digital quality suite—to deliver next-generation, high-performance composite solutions to the wind industry.

Expanding World-Class Field Services in North America and Europe

In addition to its premier manufacturing business, TPI is expanding its specialized Field Services division across both North America and Europe. As global wind fleets mature, the demand for highly technical inspection, preventative maintenance, and structural repair has intensified.

TPI's Field Services team offers utilities, wind farm owners and operators, and OEMs a global network of certified technicians, advanced diagnostics, and automated repair solutions. TPI's global service footprint can support wind assets across both continents to ensure maximum uptime, operational efficiency, and structural longevity throughout their lifecycles.

A Stronger Foundation for the Clean Energy Transition

"Today marks a transformative new chapter for TPI Composites," said Bill Siwek, President and CEO. "We have successfully restructured our balance sheet to emerge as a financially strong partner to our customers. Partnering with Energy Capital Partners gives us the stability and capital necessary to deepen our commitments to the North American manufacturing market and scale our critical Field Services teams across North America and Europe. We are incredibly grateful to our customers, suppliers, partners, professionals, and dedicated workforce for their unwavering support throughout this difficult process."

TPI Composites | https://tpicomposites.com/

Energy Capital Partners | https://www.ecpgp.com/

Adaptive Insurance, the climate resilience company building AI-driven specialty insurance and technology solutions, announced the close of an additional $5 million in financing from new and existing investors. The financing will accelerate the development and distribution of products designed to address the growing risks related to climate and weather events.

The funding includes participation from new investors IAG Firemark Ventures, Sunna Ventures, Room & Pillar, and Connecticut Innovations, alongside existing backers Congruent Ventures, Seraphim Space, and private stakeholders. The round brings Adaptive's total funding to $10 million and reflects the excitement in Adaptive's approach to helping businesses and homeowners build resilience against gaps created by climate volatility, decreasing traditional coverage, and shrinking support from governmental agencies and programs.

Funding Will Build on Momentum to Accelerate Growth

The investment will support Adaptive’s momentum to expand its specialty product portfolio, grow its agent and partner distribution network, and continue development of its proprietary climate intelligence platform. Funding comes as the scale of climate-related disruptions becomes impossible to ignore: Climate and weather events generated a $181 billion global protection gap in 2024 (Swiss Re, 2024), catastrophic climate events caused $115 billion in direct losses in 2025 (Climate Central, 2026), and FEMA cancelled $600M in Flood Mitigation Assistance grants across 36 states last year (Urban Institute/FEMA).

“Businesses and homeowners today face risks from multiple directions at once,” said Mike Gulla, CEO and Co-Founder of Adaptive Insurance. “We’re seeing coverage gaps where standard policies fall short. Product gaps where entirely new risks have outpaced what traditional insurance was built to address. And infrastructure gaps created by climate volatility, shifting populations, and shrinking public resources. Specialty insurance products have a critical role to play because they allow customers to build resilience, recover faster, and maintain continuity against increasingly unpredictable disruptions. This funding allows us to continue expanding development and distribution of our suite of products and the technology that supports them.”

Building the Next Generation of Specialty Insurance

Adaptive launched GridProtect in 2025, the first-of-its-kind parametric insurance for short-duration power outages that triggers predefined payouts based on verified outages using real-time third-party data. The company has since expanded its product suite with a wind/hail deductible buy-back solution to help residential and commercial clients reduce out-of-pocket deductible exposure and a flood product that provides greater protection and flexibility than the NFIP policy. The company also offers equipment breakdown coverage to commercial clients and powers Tokio Marine HCC’s Restaurant Recovery through its proprietary tech platform. Future products will continue the focus on technology-driven specialty solutions that fill gaps and help build resilience against emerging climate risks.

"What has impressed us most is Adaptive's ability to move from identifying a market need to launching products that deliver tangible value for customers,” said Kevin Kopczynski, Congruent Ventures. “The team has demonstrated strong execution, deep insurance expertise and a clear understanding of how climate and infrastructure risks are reshaping protection needs. We are excited to deepen our support as Adaptive enters its next phase of growth."

This sentiment is echoed by new investors who see Adaptive’s approach as a response to a broader market shift. "Consumers and businesses increasingly need insurance solutions that can adapt to risks that are evolving faster than traditional products were designed to address,” said Alex Guyer, at IAG Firemark Ventures. “We believe Adaptive’s team is building the type of technology-enabled specialty insurance platform that will play an important role in the future of resilience and risk management."

With climate and weather risks evolving faster than conventional coverage can adapt, Adaptive Insurance sees a significant opportunity to bring new forms of coverage to the shifting reality that consumers now face.

Adaptive Insurance | adaptiveinsurance.com