Ms. Tracy Zheng reports

POWERBANK RECEIVES FINAL ENVIRONMENTAL PERMIT FOR C$14 MILLION NOVA SCOTIA COMMUNITY SOLAR PROJECT, BACKED BY C$4.55 MILLION IN FEDERAL AND PROVINCIAL GRANTS AND TAX CREDITS

The 6.86-megawatt Brooklyn ground-mounted community solar project has completed environmental permitting. The project is now prepared to proceed with construction, which Powerbank Corp. expects to begin in the fall of 2026. The project is owned and financed by AI Renewable Flow-through Fund; Powerbank is the lead developer, earning development revenue with no capital required from Powerbank.

The total cost for the development and construction of the project is expected to be $14-million. It is eligible to receive up to $2,639,000 in tax credits through the Clean Technology Investment Tax Credit offered by the Canadian federal government. In August of 2025, Powerbank announced that the project received a $960,000 grant from Net Zero Atlantic and an additional $960,000 grant from the Smart Renewables and Electrification Pathways program offered by the government of Canada has been approved.

Brooklyn is one of three Powerbank-developed community solar projects in Nova Scotia totalling approximately 12.44 megawatts direct current, alongside the 3.15 MW Petpeswick and 2.43 MW Sydney projects. Powerbank has partnered with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the projects. Powerbank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there.

Over the lifetime of the project, it is expected to generate approximately $3.86-million in electricity savings for the local community in Annapolis Valley, N.S. These savings come with the additional benefits of local job opportunities, economic growth, local educational opportunities regarding renewable energy, improved grid reliability and emissions reductions.

Community solar is a cornerstone of Nova Scotia's bold commitment to achieve 80-per-cent renewable energy by 2030 and net zero by 2035.

Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of two cents per kilowatt-hour, without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. As one of only four community solar contracts awarded under the program so far, the Brooklyn project contributes approximately 6.86 MW DC to the 100 MW AC (alternating current) of planned solar additions that will help reduce fossil fuel reliance and drive local economic development.

Powerbank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding one gigawatt, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position Powerbank to deliver reliable, high-impact energy solutions. These capabilities are increasingly valuable as AI and data centre growth place unprecedented demand on the North American grid.

About Powerbank Corp.

Powerbank is a vertically integrated and independent North American energy company helping to power the digital economy. The company develops, builds, owns, and operates solar and battery energy storage systems that deliver reliable and resilient power to the electricity grid, commercial and industrial clients, and municipal and residential off-takers. As AI and digital infrastructure drive unprecedented electricity demand, Powerbank is uniquely positioned to deliver the speed, scale and energy independence that the next generation of power consumers requires, without waiting years for permitting and grid interconnection. The company has a potential development pipeline of over one gigawatt and has developed energy projects with a combined capacity of over 100 megawatts built.

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