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

TORONTO, June 3, 2026 /PRNewswire/ – 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.

The NY-South Park project is expected to deliver enough clean energy to power the equivalent of approximately 388 homes annually. Once constructed and operational, following receipt of financing and required permits, the Project is expected to be operated as a community solar project. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Once the system is placed into service by the utility and generating electricity, clean energy from the site feeds into the local power grid, enabling dozens or hundreds of renters, homeowners, and electricity customers to save money from the electricity generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that is generated by the project, accessing the benefits of solar without installing panels on their home.

The NY-Sun Program is a public-private partnership that aims to drive growth in the solar industry and make solar technology more affordable for all New Yorkers. Led by NYSERDA, the program provides incentives and financing to expand solar adoption for homes, businesses, and communities, while supporting local job creation and advancing the state’s clean energy goals.

PowerBank’s demonstrated ability to secure government incentives across its New York portfolio, including previously announced NYSERDA awards for the Elmira, Jordan Rd 1, Jordan Rd 2, and Geddes projects, reflects the institutional-grade development capabilities that underpin the Company’s broader strategic evolution. As announced on June 1, 2026, PowerBank has positioned AI compute infrastructure and modular data center development as a core strategic growth vertical alongside its solar and battery energy storage business. This new vertical is directly enabled by the Company’s growing portfolio of permitted, incentive-backed renewable energy sites across North America. PowerBank’s proven expertise in navigating state-level incentive programs, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, positions the Company to serve as a power solutions provider for the digital economy at a time of unprecedented electricity demand.

The Project advances New York’s path to 10 GW of solar by 2030. The State leads the United States in community solar capacity, having achieved the New York State Climate Act 6 GW solar goal in the fall of 2024.

There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company, and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in the Project no longer being economic. The award is contingent on the Project’s continued qualification under SSFA or ICSA; NYSERDA reserves the right to rescind the full award in the event the Project no longer qualifies. Please refer to “Forward-Looking Statements” for additional discussion of the assumptions and risk factors associated with the Project and statements made in this press release.

About PowerBank Corporation

PowerBank Corporation (NASDAQ: PBK | Cboe CA: PBK) 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, resilient, and behind-the-meter 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 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. To learn more about PowerBank, please visit www.powerbankcorp.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information ‎within the meaning of Canadian securities legislation (collectively, “forward-looking ‎statements”) that relate to the Company’s current expectations and views of future events. ‎Any statements that express, or involve discussions as to, expectations, beliefs, plans, ‎objectives, assumptions or future events or performance (often, but not always, through the ‎use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will ‎continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, ‎‎”projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be ‎forward-looking statements and may involve estimates, assumptions and uncertainties ‎which could cause actual results or outcomes to differ materially from those expressed in ‎such forward-looking statements. In particular and without limitation, this news release ‎contains forward-looking statements pertaining to the Company’s expectations regarding its industry trends and overall market growth; the energy capacity of the Project; the number of homes expected to be powered by the Project; the Company’s plan to provide energy and battery storage solutions; potential revenues; and the size of the Company’s development pipeline. No assurance ‎can be given that these expectations will prove to be correct and such forward-looking ‎statements included in this news release should not be unduly relied upon. These ‎statements speak only as of the date of this news release.‎

Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; execution of definitive agreements for suitable solar or BESS sites; that power is available to be sufficient to support a modular data center; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and services offered by the Company’s competitors; that the Company’s current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.

Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Forward-‎Looking Statements” and “Risk ‎Factors” in the Company’s most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; failure to execute definitive agreements for suitable solar or BESS sites; power availability may not be sufficient to support a modular data center; the execution of the Company’s growth strategy depends upon the continued availability of third-party financing arrangements; the Company’s future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company’s project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements (“PPAs”) and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company’s effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company’s results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company’s insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.

The Company undertakes no obligation to update or revise any ‎forward-looking statements, whether as a result of new information, future events or ‎otherwise, except as may be required by law. New factors emerge from time to time, and it ‎is not possible for the Company to predict all of them, or assess the impact of each such ‎factor or the extent to which any factor, or combination of factors, may cause results to ‎differ materially from those contained in any forward-looking statement. Any forward-‎looking statements contained in this news release are expressly qualified in their entirety by ‎this cautionary statement.‎

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SOURCE PowerBank Corporation

Round led by Pender Ventures, with participation from Climate Investment, Evok Innovations, and Occidental. New capital will accelerate deployment of the AI-enablement platform already running inside five OGCI member companies and regional operators, with expansion into adjacent industrial verticals underway.

CALGARY, AB, June 3, 2026 /PRNewswire/ – SensorUp Inc., the operational intelligence platform powering integrated operations across asset-heavy industries, announced today the close of a growth financing round led by Pender Ventures. The round includes participation from Climate Investment, Evok Innovations, and Occidental, a strategic investor and client.

SensorUp is the operational intelligence layer for asset-heavy industries: turning fragmented field data, engineering records, and sensor streams into auditable, agent-ready workflows. Operators use the platform today to surface underperforming wells before production is lost, to triage flare and vent events against regulatory thresholds, to coordinate turnaround readiness across thousands of components, to detect and resolve methane leaks, and to assemble emissions inventories that withstand regulator and capital-markets scrutiny, all on a single asset model rather than five disconnected tools.

The platform’s hardened components: asset hierarchy, calculations, review and approval, reporting, and workflow orchestration give customers, consultants, and AI agents a shared foundation to build on, with the auditability, security, and scalability that heavy industry requires. Adding a new use case is configuration, not a new product build. That same architecture is what makes the platform extensible beyond oil and gas, into power generation, utilities, mining, and chemicals, wherever distributed assets, multimodal data, and regulated operations meet.

The round was led by Pender Ventures, a venture capital firm focused on companies that drive the innovation economy as legacy systems are replaced with modern tools. As investors, they focus on finding companies with solutions that have proven their ability to increase revenue, reduce costs, and improve outcomes.

“Industrial software has been waiting for a platform with both genuine architectural differentiation and the field credibility to deploy it at scale. SensorUp has both,” said Cheri Corbett, Partner at Pender Ventures. “Their ontology-based data fabric, their position inside the world’s most demanding industrial operators, and the way customers are pulling them into agentic workloads make this exactly the kind of inflection-point company our fund was built to back. Ultimately, we back teams, and this one has earned a level of operator trust that took years to build and would take competitors years to replicate.”

The capital will be deployed across three priorities aligned with SensorUp’s next phase of growth:

Accelerating customer deployment: Expanding SensorUp’s API framework, advancing zero-touch deployment, and scaling expansion through structured prototyping workshops that compress time-to-value from quarters to weeks.

Enhancing the agentic platform: Investing in advanced AI, modeling, and vertical-specific capabilities, including SensorUp’s Operations AI Agents — the production-grade agents that customers are deploying on top of the platform.

Fueling multi-vertical expansion: Building the data infrastructure, go-to-market, and customer success capacity to support a growing base of customers and the expanding scope of workflows running on SensorUp.

“Our customers are eager to deploy AI strategies, but they need a trusted platform and partner to design and build solutions with them,” said Julia Hole, Chief Financial Officer of SensorUp. “SensorUp was forged in the highly complex environment of methane detection, resolution, and measurement at global scale. That foundation naturally positions us to take on our customers’ next most pressing data challenge: operationalizing AI for tangible ROI. This financing allows us to accelerate a roadmap our customers are actively driving.”

About SensorUp

SensorUp is the agentic system of action for heavy industry — the AI-enablement platform that turns operational chaos into orchestrated execution across distributed assets, multimodal data, and complex workflows. Forged in partnership with the world’s largest oil and gas operators and hardened across thousands of distributed assets, SensorUp is in production today with five OGCI member companies and a growing roster of regional operators, with expansion into adjacent industrial verticals underway. The company is headquartered in Calgary, Alberta. Learn more at sensorup.com.

About Pender Ventures

Pender Ventures is a venture capital investor focused on health tech and B2B technology companies at the inflection point between commercialization and scale. As a hands-on, high-conviction investor, Pender Ventures partners closely with founders to accelerate growth and build category-leading businesses.

With deep roots in the Canadian innovation ecosystem and the flexibility to invest across North America, the team operates from offices in Vancouver, Toronto, Montreal, and Calgary. Learn more at penderventures.com.

About Climate Investment

Climate Investment (CI) is an independently managed specialist investor focused on driving industrial decarbonization. It invests in companies aiming to drive high GHG impact in energy-intensive sectors, targeting opportunities that may deliver scaled, quantified carbon reduction alongside attractive risk-adjusted returns. The firm seeks to accelerate impact by investing and collaborating widely. It provides venture to growth capital to companies, and supports them across their business lifecycle, with the objective of delivering both measurable GHG impact and financial success

The firm has made over 40 investments across energy, industry, buildings, and transportation. CI’s portfolio companies offer solutions that avoid, reduce, recycle or store emitted methane or carbon dioxide. The firm reports its portfolio’s quantified GHG impact annually against a methodology it has co-developed with other investors to encourage adoption of common metrics. In the period 2019-2024 its portfolio companies collectively realized 133 million tonnes of CO2e1 of GHG reduction.

Climate Investment was founded by members of the Oil & Gas Climate Initiative. They have invested in Climate Investment funds and deployed many of its portfolio innovations, supporting their early commercial development. Visit www.climateinvestment.com.

About Evok Innovations

Evok Innovations is a leading climate-focused venture capital firm investing in hard tech solutions for heavy industry. We partner with exceptional entrepreneurs to scale transformative technologies in our focus areas of energy, mining & minerals, industrial optimization, and adaptation & resilience. 

Beyond capital, Evok delivers deep technical expertise, real-world operating experience, and unparalleled industry access through our network of global strategic partners. We work closely with our portfolio companies to bridge innovation to market adoption, accelerate commercialization, and create clear pathways to scale and exit.

For more information, please visit: evokinnovations.com.

About Occidental

Occidental is an international energy company that produces, markets and transports oil and natural gas to maximize value and provide resources fundamental to life. The company leverages its global leadership in carbon management to advance lower-carbon technologies and products. Headquartered in Houston, Occidental primarily operates in the United States, the Middle East and North Africa. To learn more, visit oxy.com.

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SOURCE SensorUp Inc

RAAMSDONKSVEER, Netherlands, June 3, 2026 /PRNewswire/ — PAL-V was honoured to attend the prestigious 75th anniversary event of the Dutch technology industry organisation FME, where the company was selected as one of the three nominees for the Peter Wennink Tech Award. The event reached a distinguished highlight when His Majesty King Willem-Alexander of the Netherlands visited the PAL-V delegation. In an engaging exchange with CEO Robert Dingemanse, the King explored the global potential of the emerging Advanced Air Mobility market or “flying car market”. Demonstrating genuine interest, His Majesty stepped into the cockpit of the PAL-V Liberty, experiencing firsthand the company’s pioneering first FlyDrive product. This royal engagement marks a defining moment for next-generation mobility, sending a powerful signal of confidence in PAL-V’s innovation and reinforcing its position at the forefront of a transformative global industry.

PAL-V was selected as one of the top three nominees for the Peter Wennink Tech Award by a distinguished four-member jury consisting of Peter Wennink (former CEO of ASML), Tjark Tjin-A-Tsoi (CEO of TNO), Hellen van der Plas (CEO of Signify) and Dirk de Bilde (CEO of Siemens). It reflects PAL-V’s pioneering approach, technological depth and its role in creating an entirely new mobility category with significant societal impact.

PAL-V’s FlyDrive solutions create a whole new market and addresses new needs, saving time, making many operations more effective and efficient. It is novel product category not competing with the many eVTOL (fly-only) initiatives confusingly often called flying cars too.

“We are pleased with the recognition as a key strategic OEM for the future of the Netherlands. Globally, we are known as one of the leaders in the major future industry of Advanced Air Mobility. With many suppliers and collaborations with universities, research institutes, and vocational colleges, we are already a key player in the ecosystem of sustainable aviation innovation. We have a strong patent position and unique know-how. What makes PAL-V special is not only the technology and the disruption in the market, but also the ecosystem behind it and its aviation certification capabilities for the world market” Robert Dingemanse, CEO of PAL-V elaborates.

Contact: Email: pressinfo@PAL-V.com 

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