PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) Marks Bold Entry Into the Growing Battery Storage Market With 4.99 MW BESS in Ontario
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://ibn.fm/3KhG2 ).
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…
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Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading 'Risk Factors' discussed under the caption 'Item 1A. Risk Factors' in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption 'Item 1A. Risk Factors' in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.
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