#USA #Bitcoin Strategy #PowerBank #Geddes Solar #Geddes, New York

PowerBank's Geddes Solar Project Goes Live

PowerBank Corporation, a prominent name in the realm of distributed solar energy and battery storage, has announced the official launch of its groundbreaking 3.79 MW Geddes Solar Power Project located in New York State. This project is not just a renewable energy milestone; it's also a significant step in PowerBank's new financial strategy involving Bitcoin.

A Pivotal Moment in Energy Evolution

According to Dr. Richard Lu, President and CEO of PowerBank, the Geddes Solar Project represents a substantial leap for the company. As the largest asset under PowerBank's management in the United States, it serves as a launchpad for a dual approach that interconnects clean energy initiatives with innovative financial strategies. By investing the financial returns generated by this project into Bitcoin, PowerBank aims to enhance the value of its operational assets and embrace a future that utilizes digital currency as a form of monetary reserve.

Energy Meets Cryptocurrency

The Geddes project is the inaugural endeavor in what PowerBank envisions as a larger Bitcoin treasury strategy. By doing so, the company positions itself to capitalize on Bitcoin as a non-correlated asset, potentially increasing its returns amid fluctuating economic conditions. Notably, this initiative also allows for financial flexibility, where earnings from high-yield projects like Geddes could be stored in Bitcoin for long-term value appreciation.

Environmental responsibility is also at the core of PowerBank's strategy. The Geddes site, previously a capped landfill, has been transformed into a clean energy power station, demonstrating how commitment to sustainability can coincide with innovative economic practices. The company is not only thinking of the present but is also laying the groundwork for future expansions in its Bitcoin treasury initiative across more projects within its Independent Power Producer (IPP) portfolio.

Geddes Project Highlights

• - Capacity: 3.79 MW DC
• - Type: Utility-scale ground-mounted solar
• - Location: Former landfill in Geddes, New York
• - Off-take: Local grid assimilation, supporting community energy requirements
• - Impact: Provides clean energy for approximately 450 homes annually

Solar Simplified, a partner of PowerBank, will handle customer-facing activities for the community solar projects, allowing PowerBank to concentrate on enhancing its renewable energy portfolio. Their expertise ensures that projects remain fully subscribed and generate maximum revenue from day one. The alignment of Solar Simplified's business model with that of PowerBank's accelerates the development of future projects, thus adding more marked value both to the company and the communities it serves.

Funding the Bitcoin Strategy

The funds required for Bitcoin purchases will stem from the net cash flows produced by the Geddes Solar Project once operational and capital expenditure obligations, debt service, and operational requirements are satisfied. The actual timing and volume of Bitcoin investments will depend on various factors, including market dynamics and regulatory matters. No Bitcoin has been acquired to date, as the company evaluates the best practices for custody and security before proceeding with any purchases.

About PowerBank Corporation

PowerBank Corporation is a trailblazer in the renewable and clean energy sector, focusing on distributed and community solar projects across both Canada and the USA. With over 100 MW of completed projects and a robust development pipeline exceeding 1 GW, PowerBank is strategically positioned to take advantage of the burgeoning renewable energy market. The company consistently delivers clean and sustainable energy solutions to utilities, commercial enterprises, and residential consumers, demonstrating its commitment to an eco-friendly future.

For more updated insights and detailed information on PowerBank’s renewable initiatives, visit www.powerbankcorp.com.

• ---