IBN Coverage: SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Reports 395% Asset Growth in Current Fiscal Year
This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community.
LOS ANGELES, CA - May 28, 2025 (NEWMEDIAWIRE) - Disseminated on behalf of SolarBank Corporation
Total assets rose to $194 million as of March 31, 2025, as compared to the end of the last fiscal year, following a key acquisition.
Revenue from the company's independent power producer segment grew from $0.3 million to $6.6 million.
This reflects the company's focus on long-term income-generating assets, versus short-term engineering, procurement, and construction/project sales.
During the third quarter, SolarBank executed several operational milestones that align with this longer-term focus.
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., posted fiscal third-quarter results reflecting a sharp increase in total assets with a notable shift in its revenue model.
The company reported a 395% increase in assets, rising from $39.2 million as of June 30, 2024, to $194 million by March 31, 2025. This jump was primarily driven by the acquisition of Solar Flow-Through Funds Ltd., a strategic move that significantly expanded SolarBank's asset base and supports its evolving
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The latest news and updates relating to SUUN are available in the company's newsroom at https://ibn.fm/SUUN
Forward Looking Statements
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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