Powerbank enters lease deal for NY-Hemlock Hill

Ms. Tracy Zheng reports POWERBANK ANNOUNCES 1.76 MW SOLAR PROJECT IN UPSTATE NEW YORK Powerbank Corp. has executed a lease agreement on a 1.76-megawatt direct current ground-mount solar power project known as the NY-Hemlock Hill project in upstate New York. The project is expected to be eligible for incentives under the New York State Energy Research and Development Authority NY-Sun program. The company is in the process of submitting the interconnection application and has initiated the preliminary screening analysis as part of the initial interconnection steps. Assuming receipt of interconnection approval, the company will work to complete the permitting process and secure the necessary financing for the construction of the project. Once completed, the project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, homeowners earn credits on their electric bill every month from their portion of the solar that is generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kilowatt-hour from the power they consume versus standard utility rates. Powerbank's proven expertise, with over 100 megawatts of completed projects and a development pipeline exceeding one gigawatt, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position Powerbank to deliver reliable, high-impact renewable energy solutions. The Hemlock Hill project will help advance New York's ambitious Climate Leadership and Community Protection Act goal of six gigawatts 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 gigawatts of installed solar capacity, and Powerbank is honoured to help contribute to this transformative milestone. There are several risks associated with the development of the project. The development of any project is subject to receipt of a community solar contract, receipt of interconnection approval, receipt of required permits, the availability of third party financing arrangements for the company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in a future project no longer being economic. About Powerbank Corp. Powerbank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system projects that sell electricity to utilities, commercial, industrial, municipal and residential offtakers. The company maximizes returns through a diverse portfolio of projects across multiple leading North America markets, including projects with utilities, host offtakers, community solar and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. We seek Safe Harbor.