PowerBank's 5.7 MW North Main St Project Successfully Completes Major Interconnection Study on Path to Permitting

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a North American energy infrastructure developer and asset owner, is pleased to announce that its 5.7 MW North Main St ground-mount solar project (the "Project"), located in upstate New York, has completed its Coordinated Electric System Interconnection Review (CESIR), and now can proceed to the next important milestone: permitting the Project site.

The North Main St project is poised to qualify for New York's Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751, with an estimated first-year average rate of US$0.0971/kWh. This VDER rate ensures fair compensation for clean energy delivered to the grid, reinforcing the project's financial and environmental viability.

Upon securing permits and financing, PowerBank will commence construction, with the project set to operate as a community solar initiative. This innovative model enables renters, businesses, and homeowners to subscribe to the solar farm, receiving bill credits and savings without installing on-site equipment. By feeding clean energy directly into the local grid, North Main offers an accessible pathway for New Yorkers to embrace the clean energy transition.

PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions.

The North Main St project advances New York's ambitious Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. As a national leader in community solar, New York accounts for nearly one-third of the United States' 6.2 GW of installed solar capacity, and PowerBank is honored to contribute to this transformative milestone.

PowerBank Corporation | www.powerbankcorp.com