Community Solar Projects Receive $1.74 Million Grant from Net Zero Atlantic

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company") is pleased to announce that Sydney, Brooklyn, and Petpeswick Community Solar projects (the "Projects") in Nova Scotia were granted $1.74 million in funding through the Nova Scotia Department of Environment and Climate Changes provided by the Nova Scotia Department of Energy and managed by the Net Zero Atlantic program.

Net Zero Atlantic is a leading research organization with a team of scientists, engineers and project mangers working to support the energy transition and respond to climate change. Their purpose is to advance a sustainable and inclusive transition to a carbon-neutral Atlantic Canada by 2050 through the provision of credible and objective data and support services.

Under the grant, the Company will receive $340k for the Sydney Solar Project, $440k for the Petpeswick Solar Project, and $960k for the Brooklyn Solar Project. The Projects are 48% owned by AI Renewable Flow-through Fund, and 52% owned by a non-profit organization or Potlotek First nation. PowerBank is the lead developer and builder for the Projects, and PowerBank will partner with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the Projects. PowerBank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there.

"We are proud to support Nova Scotia's goals in developing renewable energy in the province. This funding from Net Zero Atlantic will go far towards the development of long-lasting solar projects that bring clean energy and energy savings to Nova Scotia." said Dr. Richard Lu, President and CEO of PowerBank. "With over a decade of proven experience in solar development and operations—including community solar, commercial and industrial installations, and other government-led initiatives—PowerBank brings the expertise needed to the successful implementation of Nova Scotia's Community Solar projects."

The Nova Scotia Community Solar Program (CSP), is the first CSP in Canada, supporting Nova Scotia's commitment to 80% renewable energy by 2030 and electricity grid reaching net-zero by 2035. The program aims to add 100 MW of solar generation to the grid to help reduce reliance on fossil fuels, mitigate climate change and foster local economic growth. The clean energy generated by community solar projects feeds directly into the local electricity grid. Depending on the size and number of panels a community solar project has, renters, and business or homeowners can earn credits on their electric bill and save $0.02/kWh from the electricity that is generated by a project. By subscribing to a project, community members can access the benefits of renewable energy without having to install panels on their building or land.

PowerBank Corporation | www.powerbankcorp.com