SolarBank Corporation Transitions to PowerBank Corporation for Strategic Realignment

SolarBank Transitions to PowerBank Corporation

On July 24, 2025, SolarBank Corporation, trading on the NASDAQ as SUUN, announced pivotal plans to change its name to PowerBank Corporation effective July 28, 2025. This decision reflects the company's strategic vision and evolving market opportunities in providing comprehensive power solutions that extend beyond traditional solar energy.

The change was approved during a special meeting of shareholders held on July 23, 2025, adhering to legal requirements outlined in the Company's Articles and the Business Corporations Act of Ontario. Notably, all existing stock symbols (NASDAQ: SUUN, Cboe CA: SUNN, FSE: GY2) will remain unchanged despite the new corporate name. This strategic name shift aims to emphasize PowerBank's broader focus on renewable energy and energy infrastructure, catering to the demands of a rapidly growing global digital economy focusing on sustainable energy practices.

PowerBank Corporation will now operate its website under the updated domain www.powerbankcorp.com. The company's new CUSIP number for its common shares will be 73933V100, with the ISIN updated to CA73933V1004. Importantly, this transition does not require shareholders to exchange their current certificates, as it does not involve any consolidation of share capital. All existing share and warrant certificates will remain valid under the company's new identity.

With the rebranding, PowerBank Corporation aims to position itself as a trusted leader in renewable energy solutions, focusing on distributed and community solar projects across Canada and the USA. The company has developed a diverse portfolio, including battery energy storage systems (BESS) and electric vehicle (EV) charging stations that provide power to utilities, commercial enterprises, municipalities, and residential customers. PowerBank's strategic focus is expected to enhance its ability to maximize shareholder returns through a robust portfolio, coupled with innovative renewable energy solutions.

PowerBank boasts an estimated development pipeline of over one gigawatt and has successfully built renewable and clean energy projects totaling over 100 megawatts of capacity. This commitment to growth is reinforced by the increasing need for sustainable energy sources that align with global environmental goals. The company's strategic planning highlights its dedication to addressing diverse power requirements in a marketplace that is ever-evolving.

The objectives outlined by PowerBank also encompass navigating the complexities associated with renewable energy trends. By adapting to shifting regulatory landscapes and market demands, PowerBank Corporation seeks to capitalize on emerging opportunities while fostering improvements in energy infrastructure and sustainability. The foresight in this transition underscores the company’s commitment to innovation in the energy sector amidst an increasingly competitive environment.

In conclusion, the name change from SolarBank Corporation to PowerBank Corporation signifies a bold step in the company’s journey to become a foremost provider of integrated energy solutions. This strategic move reflects its commitment to expanding its role in supporting the digital economy through reliable, clean, and innovative energy solutions. As PowerBank charts its course forward, stakeholders can anticipate the company's ongoing initiatives aimed at forging a sustainable energy future.

As developments continue, it's crucial for investors and stakeholders to stay informed about PowerBank's progress in capitalizing on the burgeoning renewable energy market and the associated regulatory landscapes. The evolution of PowerBank Corporation signals not just a rebranding, but a comprehensive realignment of its operations towards a more sustainable future in energy production and management.