SolarBank Corporation - Common Stock (SUUN)

SolarBank (NASDAQSUUN) (CSE: SUNN) has completed the Coordinated Electric System Interconnection Review for its 7.2 MW DC North Main solar project in Wyoming County, New York, allowing it to move forward with permitting. Once approved and financed, the project will proceed to construction and operate as a community solar initiative, benefiting local residents with lower electricity costs through the New York State Energy Research and Development Authority’s NY-Sun Program. Solar Simplified will manage customer enrollment and subscriptions to ensure full participation and maximize revenue.

SolarBank (NASDAQSUUN) (Cboe CA: SUNN) (FSE: GY2), an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the U.S., was featured in a Quick Charge podcast produced by Electrek Daily. SolarBank CEO Richard Lu joined the program and host Joe Boris to discuss how his decades of experience led him to build a vertically integrated clean energy company, as well as provide a look at some of the opportunities that lie ahead.

SolarBank (NASDAQSUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has announced a partnership with Viridi, the industry leader in fail-safe battery energy storage systems (“BESS”), to develop a combined 3.06 megawatt (“MW”) direct current ground-mounted solar power project and a 1.2 megawatt-hour (“MWh”) BESS, in Buffalo, New York. This initiative aims to transform a closed landfill into a productive asset that generates clean energy for the local community ( https://ibn.fm/XEmgk ).

SolarBank (NASDAQSUUN) (Cboe CA: SUNN) (FSE: GY2), an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the U.S., was featured in an article published by Buffalo Business First . The piece highlights SolarBank’s collaboration with Viridi on a proposed $7 billion solar project at a former landfill in South Buffalo, which would include 3.06 megawatts of solar generation and 1.2 megawatt-hours of battery storage. While relatively rare, these hybrid generation projects are becoming more common according to Matthew McGregor, senior developer of U.S. business development at Solarbank, citing New York’s adoption of its energy storage roadmap. McGregor also spoke of money-making opportunities for the operator having on-site battery storage at a solar farm.

SolarBank (NASDAQSUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., posted its fiscal 2025 second-quarter results, emphasizing its six-month revenue of $20.1 million CAD ($14.15 million USD) and improved gross margins. According to the Q2 results, the company’s gross profit rose to $5.9 million CAD ($4.15 million USD) (or 29.2% of revenues), from $4.8 million CAD ($3.38 million USD) in 2024, reflecting a shift toward higher-margin business lines ( https://ibn.fm/F30Jw ).

SolarBank (NASDAQSUUN) (CSE: SUNN) announced a partnership with Viridi to develop a 3.06 MW DC ground-mount solar project with a 1.2 MWh battery energy storage system (BESS) in Buffalo, New York. The project, planned on a closed landfill site, aims to transform unusable land into a community solar asset. Viridi will provide its fail-safe lithium-ion battery system featuring integrated fire suppression and anti-propagation technology. SolarBank has secured the project site lease and is pursuing interconnection approval, permitting, and financing, with construction set to begin upon approval.

SolarBank (NASDAQSUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has announced that construction began on its first battery energy storage system (“BESS”) in Ontario during the week of February 10, 2025 ( https://ibn.fm/smENa ).

SolarBank (NASDAQSUUN) (CSE: SUNN) reported its fiscal second-quarter results, highlighting a substantial increase in independent power producer (IPP) revenue to $5.4 million from $0.1 million year over year. The company’s gross profit rose to $5.9 million, representing 29.2% of revenues, compared to $4.8 million or 18.4% in the prior year. Adjusted EBITDA reached $2.4 million, up from $0.3 million in 2024, while total assets surged 372% to $185.3 million following the Solar Flow-Through Funds Ltd. acquisition. Despite these gains, the company posted a net loss of $1.9 million, or $0.06 per basic share, compared to a net income of $2.0 million in 2024. Key corporate milestones include a $49.5 million transaction with Qcells for four New York solar projects and a $25.8 million financing deal with Royal Bank of Canada to develop battery energy storage systems.

SolarBank (NASDAQSUUN) (CSE: SUNN) announced progress on two community solar projects in Skaneateles, N.Y., after securing positive interconnection results through a Coordinated Electric System Interconnection Review. The projects, with a combined capacity of 14.4 MW DC, are planned for industrial brownfield sites and are eligible for incentives under the New York State Energy Research and Development Authority’s NY-Sun Program. Pending permits and financing, SolarBank intends to begin construction, aiming to provide cost-saving solar energy access to renters and homeowners through the local power grid.

SolarBank (NASDAQSUUN) (CSE: SUNN) will release its financial results for the second quarter ended Dec. 31, 2024, after market close on Feb. 14, 2025. The company will host a webinar on Feb. 18, 2025, to provide a business update and discuss the results, following the Nasdaq market holiday on Feb. 17.

SolarBank (NASDAQSUUN) (CSE: SUNN) (NEO: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., contracted for development of three solar power projects for Honeywell International in 2023 ( https://ibn.fm/Ton0x ).

SolarBank (NASDAQSUUN) (CSE: SUNN) (NEO: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., is expanding into the rapidly growing data center market. The strategic move is seen as reconfirming the company’s commitment to harnessing clean energy technologies at a time when the U.S. is planning to invest heavily in the development of private sector artificial intelligence infrastructure.

SolarBank (NASDAQSUUN) (CSE: SUNN) announced that construction on its first Battery Energy Storage System project in Ontario will commence the week of Feb. 10, 2025. The SFF-06 project, located in Cramahe, Ontario, is part of a $25.8 million loan agreement with the Royal Bank of Canada. Anvil Crawler Development Corp. was awarded a $1.85 million contract to complete civil and electrical work. The project, which secured a 22-year contract with Ontario’s Independent Electricity System Operator, will have a daily contract capacity of 4.74 MW. SolarBank holds a 50% interest in the project, with the remainder owned by a First Nations partnership. The company expects to benefit from Canada’s Clean Technology Investment Tax Credit, which provides up to 30% reimbursement for eligible capital costs.

SolarBank (NASDAQSUUN) (CSE: SUNN) (NEO: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has sealed a $49.5 million USD transaction with Qcells, one of the world’s leading clean energy companies, for the acquisition of four ground-mount solar power projects that are under development in upstate New York ( https://ibn.fm/A9JcD ).

SolarBank (NASDAQSUUN) (CSE: SUNN) has announced key achievements from 2024, including over $67.5 million in committed financing and several strategic initiatives. Highlights include a $49.5 million transaction with Qcells for four New York solar projects, a $25.8 million financing deal with Royal Bank of Canada for battery storage projects, and a Nasdaq listing in April. SolarBank also completed its acquisition of Solar Flow-Through Funds Ltd., valued at up to $45 million, and expanded its board with renewable energy expert Chelsea L. Nickles. The company is exploring data center colocation as part of its clean energy strategy. Major projects include a $41 million deal with Honeywell for three New York community solar projects and construction of a 1.4 MW rooftop solar project for Fiera Real Estate in Alberta. SolarBank also advanced numerous community solar initiatives across New York, Pennsylvania, and Nova Scotia. CEO Dr. Richard Lu emphasized the company’s strong growth and continued momentum in expanding clean energy solutions.

SolarBank (NASDAQSUUN) (CSE: SUNN), an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the U.S., was featured in an article published by Sustainable Biz Canada. The piece highlights SolarBank’s achievement in exceeding its fiscal year 2024 income with two deals, the company’s pursuit of expansion, as well as its optimistic outlook despite vocal resistance to EVs and the anti-renewables rhetoric from the Trump administration. In the article, SolarBank’s president and CEO Richard Lu discussed sunny days ahead for the Toronto-based company as it looks forward to fulfilling its substantial project pipeline and prepares for expansion into electric vehicle (“EV”) charging and data centers.

SolarBank (NASDAQSUUN) (CSE: SUNN) (NEO: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., is expanding into the fast-growing battery energy storage market. The company has closed a $25.8 million non-recourse loan with the Royal Bank of Canada to fund the construction, operation and maintenance of two 4.99 MW battery energy storage system (“BESS”) projects in Ontario, named SFF 06 and 903 ( https://ibn.fm/G76GJ ).

SolarBank (NASDAQSUUN) (CSE: SUNN), a developer and independent power producer specializing in renewable energy, will participate in The Microcap Conference 2025, held Jan. 28-30 at the Borgata Hotel Spa & Casino in Atlantic City, N.J. CEO Dr. Richard Lu will present on Jan. 29 at 10 a.m. in Studio 2 and engage with investors to highlight SolarBank’s portfolio of over 100 solar power plants and its pipeline exceeding 1 gigawatt in solar, battery storage, and EV charging projects across North America. The conference will feature industry keynotes, expert panels, and networking opportunities, including a fireside chat with New York Islanders co-owner Jon Ledecky and CNBC’s Bob Pisani, alongside entertainment from comedian Tom Papa.

SolarBank (NASDAQSUUN) (CSE: SUNN), a leading developer and operator of renewable energy projects in North America, has engaged IBN to manage its corporate communications. SolarBank specializes in distributed and community solar initiatives, leveraging solar photovoltaic systems, battery energy storage systems (BESS), and expanding into EV charging infrastructure. With over 100 MW of developed capacity and a development pipeline exceeding 1 GW, SolarBank collaborates with utilities, municipalities, and commercial entities to advance sustainable energy solutions. IBN will utilize its extensive distribution network and investor-focused resources to amplify SolarBank’s market presence and investor outreach.

SolarBank (NASDAQSUUN) (CSE: SUNN) is a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the United States. The company is committed to advancing the transition to sustainable energy by offering end-to-end services that include project origination, financing structuring, engineering, procurement, construction, and long-term operations and maintenance. SolarBank focuses on delivering innovative energy solutions through solar photovoltaic systems, battery energy storage systems (“BESS”), and electric vehicle (“EV”) charging infrastructure.

SolarBank (NASDAQSUUN) (CSE: SUNN) (NEO: SUNN) (FSE: GY2) announced that its subsidiary has secured the financial closing of a combined project loan in a principal amount of $25.8 million from Royal Bank of Canada. The loan will be used for the construction, operation and maintenance of two 4.99 MW Battery Energy Storage System (“BESS”) projects to be located in Ontario, with project names SFF 06 and 903, respectively. According to the announcement, the projects are owned by 1000234763 Ontario Inc., which is the borrower under the terms of the loan. The projects represent SolarBank’s initial foray into battery energy storage, a market that Fortune Business Insights forecasts to grow at a 16.3% CAGR from 2022 to reach US$31.2 billion by 2029.

SolarBank (NASDAQSUUN) (CSE: SUNN) has announced the sale of four ground-mount solar power projects under development in upstate New York to Qcells, a subsidiary of Hanwha Solutions (KRX: 009830). The projects, totaling 25.577 MW, will be developed and constructed by SolarBank under engineering, procurement and construction (“EPC”) agreements valued at approximately $49.5 million. These community solar projects, leveraging U.S.-manufactured equipment, are expected to benefit from New York’s NY-Sun Program incentives. SolarBank anticipates retaining operations and maintenance contracts post-construction. Qcells highlighted its commitment to strengthening domestic solar manufacturing as part of a broader $2.8 billion investment in clean energy.

ATLANTIC CITY, NJ / ACCESSWIRE / November 27, 2024 / DealFlow Events is pleased to announce the initial lineup of companies participating in The Microcap Conference, set for January 28-30 in Atlantic City, NJ. Now in its second year, the event is a key gathering for microcap and small-cap investors, offering a platform for investment and collaboration.