PowerBank Corporation Reports Exponential IPP Revenue Growth and Strategic Shift Toward Asset Ownership

PowerBank Corporation reported substantial growth in its independent power producer segment during Fiscal Year 2025, highlighting the company's strategic transition toward long-term recurring revenue through asset ownership and financing. The company's IPP revenues increased dramatically to C$9.3 million compared to just C$0.6 million in FY 2024, representing a 1,508% year-over-year increase. This exponential growth occurred despite a 29% decline in total company revenues to C$41.5 million, underscoring the successful execution of PowerBank's strategic shift toward asset retention and ownership.

The company's total assets grew 253% year-over-year, driven primarily by IPP portfolio expansion and strategic project acquisitions. This substantial asset growth reflects PowerBank's commitment to building a robust portfolio of renewable energy assets that can generate stable, long-term revenue streams. The improved gross margin of 25%, up from 20% in the previous fiscal year, indicates higher profitability from the company's evolving business model focused on owning and operating energy assets rather than solely developing projects for sale.

PowerBank's development pipeline now totals 1,806 megawatts direct current and megawatt-hours of solar photovoltaic and battery energy storage projects, positioning the company for continued growth in the renewable energy sector. The company announced up to US$100 million in project-based financing through a mandate with CIM Group, providing substantial capital to support further expansion of its IPP portfolio. This financing arrangement demonstrates investor confidence in PowerBank's strategic direction and the viability of its renewable energy projects.

CEO Dr. Richard Lu emphasized the company's transition toward becoming a stable, asset-backed independent power producer, a strategic shift that appears to be yielding significant financial benefits. The company's focus on distributed and community solar initiatives throughout Canada and the United States aligns with growing demand for localized renewable energy solutions. PowerBank's financial results for the fiscal year ended June 30, 2025, validate the company's approach to retaining and financing more of its energy assets, creating a foundation for sustainable long-term growth in the rapidly expanding renewable energy market.