PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) Marks Bold Entry Into the Growing Battery Storage Market with 4.99 MW BESS in Ontario
- PowerBank Corporation, a leading North American energy infrastructure developer and asset owner, has just begun installation of a 4.99 MW battery energy storage system (“BESS”) at its SFF-06 project in Cramahe, Ontario
- Once completed, this project is designed to deliver 4.75 MW of daily contract capacity for 251 business days annually, thereby powering Ontario’s grid with reliable, clean energy
- This ambitious project marks PowerBank’s bold entry into the battery storage market, a market that is projected to hit $31.2 billion by 2029, representing a 16.3% CAGR
- For the power supplied, PowerBank will receive a fixed capacity payment of $1,221/MW per business day, well above the $876/MW average for storage projects
Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a leading North American energy infrastructure developer and asset owner, just marked its entry into the rapidly growing Battery Energy Storage System (“BESS”) market with the installation of a BESS at its SFF-06 flagship project in Cramahe, Ontario. The project, once completed, will have a 4.99 MW capacity, delivering 4.74 MW of daily contract capacity for 251 business days annually, ultimately powering Ontario’s grid with reliable, clean energy (https://nnw.fm/2Jbw2 ) (https://ibn.fm/LCOU2 ).
This ambitious project is backed by a $25.8 million loan from Royal Bank of Canada (“RBC”), with the institution serving as Lender, Administrative and Collateral Agent, and Green Loan Structuring Agent. This, coupled with the long-term value that is the 22-year contract that PowerBank entered with the Independent Electricity System Operator (“IESO”), has bolstered the project’s viability, particularly given that it will receive a fixed capacity payment of $1,221/MW per business day, well above the $876/MW average for storage projects.
According to Fortune Business Insights, the battery storage market is projected to hit a $31.2 billion valuation by 2029, representing a 16.3% CAGR. PowerBank is positioning itself for this growth, not just with strategic acquisitions, but also with calculated investments that will stamp its position as a leader in the industry. For the Ontario project, once completed, it will transform the city’s energy landscape, blending cutting-edge technology and sustainable investment (https://nnw.fm/2Jbw2 ) (https://ibn.fm/LCOU2 ).
The first five of nine EVLO Battery containers are already on-site, with the remaining containers expected to be delivered and installed in the next few weeks or months. PowerBank’s management is optimistic that the investment will yield significant returns in the long run. In addition, it noted that the project itself aligns with PowerBank’s mission to accelerate renewable energy adoption through strategic government incentives such as the Clean Technology Investment Tax Credit, offering up to 30% reimbursements for eligible capital costs.
For more information, visit the company’s website at www.PowerBankCorp.com.
This report contains forward-looking information. Please refer to the press release entitled “PowerBank (SUUN) Begins Installation of First Battery Energy Storage System in Ontario” and dated August 6, 2025, for additional details on the information, risks, and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- PowerBank Corporation, a leading North American energy infrastructure developer and asset owner, has just begun installation of a 4.99 MW battery energy storage system (“BESS”) at its SFF-06 project in Cramahe, Ontario
- Once completed, this project is designed to deliver 4.75 MW of daily contract capacity for 251 business days annually, thereby powering Ontario’s grid with reliable, clean energy
- This ambitious project marks PowerBank’s bold entry into the battery storage market, a market that is projected to hit $31.2 billion by 2029, representing a 16.3% CAGR
- For the power supplied, PowerBank will receive a fixed capacity payment of $1,221/MW per business day, well above the $876/MW average for storage projects
Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a leading North American energy infrastructure developer and asset owner, just marked its entry into the rapidly growing Battery Energy Storage System (“BESS”) market with the installation of a BESS at its SFF-06 flagship project in Cramahe, Ontario. The project, once completed, will have a 4.99 MW capacity, delivering 4.74 MW of daily contract capacity for 251 business days annually, ultimately powering Ontario’s grid with reliable, clean energy (https://nnw.fm/2Jbw2 ) (https://ibn.fm/LCOU2 ).
This ambitious project is backed by a $25.8 million loan from Royal Bank of Canada (“RBC”), with the institution serving as Lender, Administrative and Collateral Agent, and Green Loan Structuring Agent. This, coupled with the long-term value that is the 22-year contract that PowerBank entered with the Independent Electricity System Operator (“IESO”), has bolstered the project’s viability, particularly given that it will receive a fixed capacity payment of $1,221/MW per business day, well above the $876/MW average for storage projects.
According to Fortune Business Insights, the battery storage market is projected to hit a $31.2 billion valuation by 2029, representing a 16.3% CAGR. PowerBank is positioning itself for this growth, not just with strategic acquisitions, but also with calculated investments that will stamp its position as a leader in the industry. For the Ontario project, once completed, it will transform the city’s energy landscape, blending cutting-edge technology and sustainable investment (https://nnw.fm/2Jbw2 ) (https://ibn.fm/LCOU2 ).
The first five of nine EVLO Battery containers are already on-site, with the remaining containers expected to be delivered and installed in the next few weeks or months. PowerBank’s management is optimistic that the investment will yield significant returns in the long run. In addition, it noted that the project itself aligns with PowerBank’s mission to accelerate renewable energy adoption through strategic government incentives such as the Clean Technology Investment Tax Credit, offering up to 30% reimbursements for eligible capital costs.
For more information, visit the company’s website at www.PowerBankCorp.com.
This report contains forward-looking information. Please refer to the press release entitled “PowerBank (SUUN) Begins Installation of First Battery Energy Storage System in Ontario” and dated August 6, 2025, for additional details on the information, risks, and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
