PowerBank Corporation closed a U.S.$4.2 million registered direct offering. Two new institutional investors purchased 7,000,000 common shares. The offering closed on July 1, 2026.
Net proceeds will advance PowerBank's independent power producer (IPP) project portfolio and provide general working capital. CEO Richard Lu stated the financing marks an important milestone for the company's North American growth strategy. It directly supports projects, including those with the U.S. Department of Military and Naval Affairs.