PowerBank Reports FY 2025 Results, Highlights Transition to Independent Power Producer Model

PowerBank Corporation reported fiscal 2025 revenue of C$41.5 million, representing a 29% decrease compared to the previous year, while demonstrating significant progress in its strategic transition to an independent power producer model. The company's gross margin improved to 25%, and its IPP revenues surged dramatically by 1,508% to C$9.3 million, indicating successful execution of its new business direction.

The company posted a net loss of C$31.1 million for the fiscal year, primarily attributed to a one-time impairment charge of C$30.4 million and increased consulting costs associated with its Solar Flow-Through Funds acquisition. Despite these challenges, CEO Dr. Richard Lu characterized FY 2025 as a transitional year for the company, emphasizing the substantial progress made in scaling retained IPP assets and advancing development initiatives across North American markets.

PowerBank's strategic shift comes at a critical time for the renewable energy sector, as companies adapt to changing market dynamics and regulatory environments. The company is actively advancing U.S. solar development projects under new Investment Tax Credit rules while simultaneously expanding Canadian battery storage and community solar initiatives. This dual-market approach positions PowerBank to capitalize on growing demand for distributed energy solutions in both countries.

The dramatic growth in IPP revenues, from a relatively small base to C$9.3 million, demonstrates the company's successful pivot toward owning and operating renewable energy assets rather than solely developing projects for sale. This transition to an asset-ownership model provides more stable, long-term revenue streams and potentially higher margins as projects become operational and generate electricity sales over their lifespan.

PowerBank's development pipeline of over one gigawatt and its track record of developing renewable and clean energy projects with combined capacity exceeding 100 megawatts provides a solid foundation for future growth. The company focuses on distributed and community solar projects in Canada and the United States, developing solar and Battery Energy Storage System projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. Additional information about the company's operations and forward-looking statements can be found at https://ibn.fm/2S1S4.

The company's diversified portfolio approach across multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering projects, allows it to maximize returns while managing regional market risks. This strategic positioning is particularly important as both Canada and the United States continue to implement policies supporting renewable energy adoption and grid modernization efforts.

For investors and stakeholders seeking additional information, the company maintains a newsroom at https://ibn.fm/SUUN where updates relating to SUUN are available. The full details of the fiscal 2025 results and the company's strategic direction are outlined in the complete press release available at https://ibn.fm/xrO52.