PowerBank's Rebrand Sparks 26.8% Rally, Secures $25.8M BESS Funding

Introduction

PowerBank Corporation (NASDAQ: SUUN) is a North American developer and owner of renewable energy infrastructure specializing in distributed and community solar, battery energy storage systems (BESS), and electric vehicle (EV) charging projects. On July 28, 2025, the company officially began trading under its new name, PowerBank Corporation, while retaining the ticker symbol SUUN.

Corporate Structure

PowerBank operates a vertically integrated business model that includes site origination, project development, financing, engineering, procurement and construction (EPC), operations and maintenance, and asset management. The executive leadership team has over 100 years of combined experience in clean energy project delivery. Headquartered in Toronto, Ontario, with an additional office in New York, the company maintains a 24/7 operations center to oversee more than 100 solar plants under management. Its development pipeline exceeds one gigawatt, and the company has constructed over 100 megawatts of operational renewable capacity to date.

Renewable Energy by Thomas Richter

Recent Developments and News

• July 28, 2025 – The company’s name change from SolarBank Corporation to PowerBank Corporation became effective. New CUSIP 73933V100 and ISIN CA73933V1004 were assigned, with no alteration to share structure or shareholder rights.
• August 6, 2025 – PowerBank filed a Form 6-K with the SEC, which included a press release and preliminary financial information for the second quarter of 2025.
• August 14, 2025 – Highbridge Capital Management, LLC amended its Schedule 13G/A to report beneficial ownership of 2,394,367 shares (6.3% of the class), including shares that may be issued upon the exercise of warrants.
• August 14, 2025 – The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC amended their Schedule 13G/A to disclose shared voting and dispositive power over 6,187 shares (0.0% of the class).
• August 2025 – The company secured a $25.8 million project finance facility for two BESS projects.

Financial and Strategic Analysis

PowerBank’s vertically integrated approach is designed to control project costs and optimize returns across the lifecycle of solar, storage, and EV charging developments. The $25.8 million financing for BESS capacity offers evidence of third-party confidence in the company’s execution capabilities. As of August 18, 2025, PowerBank’s shares closed at $2.41, reflecting a 26.84% increase on the day, with a trading volume of 367,911 shares on the NASDAQ. Highbridge Capital Management holds a 6.3% stake in PowerBank, which may be affected by warrants. To date, PowerBank has completed over $300 million in project financings and maintains a pipeline in excess of one gigawatt.

Market Position and Industry Context

In the United States, the Inflation Reduction Act drives investment in solar PV and BESS technologies, while federal and provincial incentives in Canada support distributed generation and community solar programs. Industry data projects the North American solar PV market to grow from $25.02 billion in 2019 to $120.74 billion by 2027, with a compound annual growth rate of 21.7%. PowerBank’s focus on behind-the-meter solar gardens, grid-connected community installations, and utility-scale farms addresses multiple high-growth segments. Partnerships with utilities, municipalities, and commercial off-takers help diversify revenue streams and reduce exposure to market volatility.

tl;dr

• July 28, 2025 – SolarBank rebrands to PowerBank Corporation, retaining the NASDAQ ticker SUUN.
• August 14, 2025 – Highbridge Capital Management reports a 6.3% stake via Schedule 13G/A; Goldman Sachs holds 6,187 shares.
• $25.8 million secured in August 2025 for two BESS projects under a project finance facility.
• As of August 18, 2025, shares traded at $2.41 (+26.84%) on a volume of 367,911.
• Development pipeline exceeds 1 GW; over $300 million in project financings completed.
• Market outlook supported by policies in the U.S. and Canada, with North American solar PV projected to expand at a 21.7% CAGR through 2027.