Project expected to provide clean energy to the equivalent of approximately 388 homes annually

TORONTO, June 3, 2026 /CNW/ - PowerBank Corporation (NASDAQ:PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company"), a leader in independent energy development and asset ownership in North America, is pleased to announce that its 3.1 MW NY-South Park community solar project (the "Project") located on a closed landfill site in Buffalo, New York has been approved for $841,555 USD in incentives through the New York State Energy Research and Development Authority ("NYSERDA") NY-Sun Program. The Project was most recently discussed in a permitting progress update shared here.

The Project is expected to qualify for up to an additional $730,234 USD in NYSERDA incentives through the NY-Sun Inclusive Community Solar Adder and the Retail Energy Storage Incentive Program, for a total of up to $1,571,789 USD in NYSERDA funding.