PowerBank Corporation, a North American company that develops and owns independent renewable and clean energy projects, has raised gross proceeds of $13.68 million through an equity offering.
The proceeds were raised through the company’s previously announced at-the-market (ATM) offering program, pursuant to a prospectus supplement dated June 5, 2025, to its short-form base shelf prospectus dated May 7, 2025, through which the company sold 7,738,625 shares for gross proceeds of approximately $13.68 million.
The company focuses on developing solar and battery energy storage system projects that sell electricity to a range of off-takers, including utilities, commercial entities, industrial clients, municipalities, and residential customers.
According to the company, the proceeds will be used to support the development of its growing portfolio of renewable energy projects, strengthen its position as an independent power producer, cover investor relations expenses, fund ongoing operations, and meet working capital needs.
“This successful capital raise helps support PowerBank’s growth trajectory and strategic vision,” said Dr. Richard Lu, president and chief executive officer of PowerBank Corporation. “The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet. As we expand our owned asset portfolio and establish ourselves as a growing independent power producer, we remain committed to delivering value to our shareholders while advancing the clean energy transition. As of September 30, 2025, PowerBank had approximately $138 million in assets.”
With a development pipeline exceeding 1 GW, PowerBank continues to expand its presence in the distributed and community solar markets across major regions of North America.
In December, PowerBank announced that it and its subsidiaries entered into a revolving credit facility with an initial principal of up to $8 million with NY Green Bank.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, public market financing in the solar sector in 2025 totaled $2.6 billion, 13% lower than the $3 billion raised in 2024.
