PowerBank wins $2.95M U.S. Army solar and EV charging contract

PowerBank Corporation (NASDAQ: PBK, Cboe CA: PBK, FSE: 103) has been awarded a $2,950,000 federal contract to construct a solar photovoltaic array, electric vehicle charging stations, and associated infrastructure at the Armed Forces Reserve Center in Farmingdale, New York.

The contract was granted by the U.S. Department of Defense and the Department of the Army, and awarded to PowerBank's U.S. subsidiary, Abundant Solar Power Inc. The facility serves the Army Reserve, Naval Reserve, Marine Corps Reserve, and the New York National Guard.

According to the company, this is its first contract with the U.S. federal government. The project was solicited through the U.S. Army Corps of Engineers and falls under NAICS code 236220 for Commercial and Institutional Building Construction. PowerBank has received a Notice to Proceed and will begin engineering, procurement, and construction. The completed infrastructure will be retained by the government.

Andrew van Doorn, PowerBank's President and Chief Operating Officer, said, "Federal procurement is rigorous by design, and meeting those requirements on our first submission reflects the institutional-grade capabilities we have built over decades of delivering complex energy infrastructure."

The announcement follows earlier state-level contracts awarded to Abundant Solar Power Inc. by the New York Department of Military and Naval Affairs for ground-mounted and rooftop solar projects and battery energy storage systems.

PowerBank is based in Toronto, Canada, and describes its development pipeline as exceeding 1 gigawatt, with more than 100 megawatts of completed projects.

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