Month: December 2025

Contribution is Third this Year as Need Rises

OAKLAND, Calif., Dec. 31, 2025 /PRNewswire/ — Just in time for the holidays, Pacific Gas and Electric Company (PG&E) is contributing $1 million to local food banks to help feed the growing number of individuals and families struggling to put food on the table.

The PG&E funding will provide the equivalent of approximately 3 million meals for individuals and families. It will support 38 food banks representing 47 counties in PG&E’s Northern and Central California service area.

It is the third contribution to food banks since September from PG&E or The PG&E Corporation Foundation (the PG&E Foundation), bringing the total for community food support this year to $2.37 million. Funding for these charitable contributions comes from PG&E shareholders, not PG&E customers.

Officials with the California Association of Food Banks said that food banks are facing record-breaking demand, the highest since the pandemic.

“California food banks experienced an unexpected surge with the [federal government] shutdown this fall. So, we reached out for help on their behalf and PG&E responded,” said Stacia Levenfeld, Chief Executive Officer of California Association of Food Banks. “Their $1 million gift to food banks throughout Northern and Central California will have a meaningful impact on the lives of millions of people this holiday season and help food banks continue their critical work in our communities.”

“We are grateful to help local food banks fulfill their mission during this time of increasing demand, especially as more families and seniors are struggling through the holiday season. Our longstanding partnership with the California Association of Food Banks supports the safety net that is our local food banks,” said Carla Peterman, Executive Vice President, Corporate Affairs, PG&E Corporation and Chair of The PG&E Corporation Foundation Board.

2025 Support for Food Banks

In September, the PG&E Foundation awarded $1.12 million to support local food banks, tribal food banks and senior meal programs. In November, the PG&E Foundation donated $250,000 to the California Association of Food Banks’ Emergency Response Fund.

According to the California Association of Food Banks, while California produces nearly half of the nation’s fruits and vegetables, more than one in five residents do not know where their next meal will come from. Communities of color face even higher levels of food insecurity.

Grant amounts that will be awarded to local organizations account for county poverty and unemployment levels, using the California Department of Social Services’ formula, to promote equity among counties with higher need.

About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.

About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

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SOURCE Pacific Gas and Electric Company

Contribution is Third this Year as Need Rises

OAKLAND, Calif., Dec. 31, 2025 /PRNewswire/ — Just in time for the holidays, Pacific Gas and Electric Company (PG&E) is contributing $1 million to local food banks to help feed the growing number of individuals and families struggling to put food on the table.

The PG&E funding will provide the equivalent of approximately 3 million meals for individuals and families. It will support 38 food banks representing 47 counties in PG&E’s Northern and Central California service area.

It is the third contribution to food banks since September from PG&E or The PG&E Corporation Foundation (the PG&E Foundation), bringing the total for community food support this year to $2.37 million. Funding for these charitable contributions comes from PG&E shareholders, not PG&E customers.

Officials with the California Association of Food Banks said that food banks are facing record-breaking demand, the highest since the pandemic.

“California food banks experienced an unexpected surge with the [federal government] shutdown this fall. So, we reached out for help on their behalf and PG&E responded,” said Stacia Levenfeld, Chief Executive Officer of California Association of Food Banks. “Their $1 million gift to food banks throughout Northern and Central California will have a meaningful impact on the lives of millions of people this holiday season and help food banks continue their critical work in our communities.”

“We are grateful to help local food banks fulfill their mission during this time of increasing demand, especially as more families and seniors are struggling through the holiday season. Our longstanding partnership with the California Association of Food Banks supports the safety net that is our local food banks,” said Carla Peterman, Executive Vice President, Corporate Affairs, PG&E Corporation and Chair of The PG&E Corporation Foundation Board.

2025 Support for Food Banks

In September, the PG&E Foundation awarded $1.12 million to support local food banks, tribal food banks and senior meal programs. In November, the PG&E Foundation donated $250,000 to the California Association of Food Banks’ Emergency Response Fund.

According to the California Association of Food Banks, while California produces nearly half of the nation’s fruits and vegetables, more than one in five residents do not know where their next meal will come from. Communities of color face even higher levels of food insecurity.

Grant amounts that will be awarded to local organizations account for county poverty and unemployment levels, using the California Department of Social Services’ formula, to promote equity among counties with higher need.

About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.

About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

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SOURCE Pacific Gas and Electric Company

The co-op supported its broader sustainability work with innovative partnerships in 2025.

SEATTLE, Dec. 31, 2025 /PRNewswire/ — Over the past year, the co-op took meaningful steps to reduce our impact on the planet and support the long-term health of the places and communities we love. This work reflects our climate strategy, bringing cooperative action together to drive change with speed and scale.

“When companies come together, climate action becomes more real and more lasting,” said Andrew Dempsey, Director of Sustainability, REI Co-op. “We’re grateful for the partners who’ve helped make this work possible. We’re focused on continuing this work and backing solutions that make a real difference for communities and help keep the outdoors healthy for the future.”

A key part of the co-op’s efforts in 2025 supported local clean energy projects in the communities where we operate. Over the past year, we worked with partners to help develop several new renewable energy initiatives, including:

• A new 2.5MW community solar project in Woodbury, MN being developed by US Solar. This initiative will enable nearly 500 low-to moderate-income households to subscribe to renewable energy, reducing utility bills and adding clean power to the grid near REI’s Bloomington store.
• An aggregated Virtual Power Purchase Agreement (VPPA) with Carhartt and other partners, helping to accelerate renewable energy development in Texas by adding 18.5 MW of solar energy to the grid.

Alongside new clean energy projects, we also marked progress on work already underway. In South Carolina, we celebrated the launch of a renewable energy project with Ever.green, adding more clean power to the grid and building on earlier investments.

Over the past year, REI extended its partnership with Sol Systems and Nester Hosiery, one of our largest U.S. manufacturing partners, through a new three-year renewable energy certificate purchase.

Our partnership with Sol Systems also expanded beyond energy. In 2025, We worked together to support environmental education at Florida Atlantic University’s Pine Jog Center. Through the Community Impact Program, up to 48 high school students will participate in immersive, college-credit-bearing residential programs focused on climate resilience and ecosystem science.

Students will gain hands-on field experience studying South Florida’s wetlands, rivers, and coastal ecosystems, connect with environmental scientists, and return to their communities as ambassadors for climate resilience. The program builds on our renewable energy investments across Florida and shows how clean energy can support people as well as the planet.

Supporting climate solutions rooted in nature

Over the year, we also took steps to support climate solutions that work with nature. REI became the first retail company to join the Symbiosis Coalition, a group working to accelerate the deployment of nature-based carbon removal like reforestation and agroforestry projects. These efforts help support healthy ecosystems while expanding access to climate solutions for organizations of all sizes.

Reducing impact through better materials

In addition to energy and climate solutions, we made progress on reducing the impact of the materials we use in REI Co-op brand products. REI signed a three-year agreement with Ambercycle to purchase 200 tons per year of their innovative cycora® regenerated polyester that uses recycled textile waste as a feedstock to make new, high-quality materials. This step will help REI cut emissions, reduce waste and move toward a more “circular” lifecycle for the products we make.

By pairing clean energy projects with community programs and choosing lower-impact materials, we continued to make practical progress across our climate work over the past year.

Learn more about our impact work at rei.com/impact.

About the REI Co-op
REI is a specialty outdoor retailer, headquartered near Seattle. The nation’s largest consumer co-op, REI is a growing community of 24 million members who expect and love the best quality gear and outstanding customer service. In addition to the co-op’s many stores across the country, outdoor enthusiasts can shop at REI.com, REI Outlet or the REI shopping app. Everyone is welcome to shop REI, but members who join the co-op enjoy a range of benefits. REI is a purpose-driven and values-led company dedicated to enabling life outside for all.

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SOURCE REI Co-op

BEIJING, Dec. 31, 2025 /PRNewswire/ — On December 29, China’s Ministry of Natural Resources released a survey report on the coral reef ecosystem of Huangyan Dao. Based on this report, CMG Voice of the South China Sea released the ecological documentary An Unfading Commitment: Why Huangyan Dao Needs Protection.

This latest report, spanning four decades from 1985 to 2025, draws on data from over 60 research voyages, and integrates 16 years of satellite remote sensing data. It shows that the coral reef ecosystem of Huangyan Dao National Nature Reserve is generally in good condition.

The documentary An Unfading Commitment: Why Huangyan Dao Needs Protection presents audiences with the healthy and lush seagrass, as well as the rare and endangered wildlife freely inhabiting the Huangyan Dao National Nature Reserve, such as the Green Turtle, Hawksbill Turtle, and Spotted Eagle Ray. At the same time, the film conveys scientists’ concerns: threats represented by the fourth global coral bleaching event are ever present. This survey also identified the presence of a small number of crown of thorns starfish in the waters around Huangyan Dao, and the risk of future outbreaks cannot be ruled out.

Today, more than 2,500 marine protected areas involving coral reefs have been established worldwide. The establishment of Huangyan Dao National Nature Reserve is undoubtedly a solemn commitment made by the Chinese people, in the hope that it will inspire more people to help maintain and enhance the diversity, stability, and sustainability of the coral reef ecosystem of Huangyan Dao.

https://vscs.cri.cn/20251229/d487c6b7-8724-4ad6-bf75-968c8dcac4cc.html

 

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SOURCE China Media Group

KANSAS CITY, Mo., Dec. 31, 2025 /PRNewswire/ — Scrap Management Industries, Inc. (SMI), one of the Midwest’s leading ferrous and nonferrous metal recycling companies, today announced it has acquired Allmetal Recycling, a scrap metal recycling company based in Kansas.

The acquisition expands SMI’s presence across the region by adding Allmetal’s network of 10 locations in Kansas, including three yards in Wichita and additional facilities in Salina, Newton, Harper, McPherson, Great Bend, Kingman and Pratt. With this significant combination, SMI will operate 5 Automobile Shredders – including two Mega Shredders – across 19 yards in three primary regions across Missouri, Kansas and Oklahoma with services spanning the surrounding states and communities.

“Allmetal is exactly the kind of company we want to grow with,” said Jerrit Burgess, CEO of Scrap Management Industries. “Both companies are family built and locally led. Allmetal has done an outstanding job serving Kansas communities and its industrial partners. Bringing their team into the SMI family allows us to offer more locations, more capacity and even better service while keeping decisions close to the communities we serve.”

Allmetal will continue to operate under its own name as part of the SMI family of companies. Allmetal customers and community partners will get the same great experience they have come to know while gaining access to the broader resources, relationships and operational support of SMI.

Allmetal Recycling was established in 2009 and is owned and operated by cousins Clint and Kolby Cornejo, who have built the company into a leading metal recycler in Kansas with a strong reputation for safety, service and community involvement. Both Clint and Kolby are remaining with the company in leadership roles as part of the combined organization and will continue to be actively involved in day-to-day operations.

“We have always believed that scrap metal recycling is a local business,” said Clint Cornejo. “SMI shares that belief. They are family owned, they understand the value of local teams and they are committed to investing in the people and facilities that make this business work.”

“Joining the SMI family allows us to keep doing what we do best for our customers and communities, while creating new opportunities for our employees as the combined business grows,” added Kolby Cornejo.

For industrial and commercial partners, the combined company can now provide a broader footprint, more container and transportation options and expanded capacity to handle complex scrap programs across multiple locations.

For walk-in customers at both SMI and Allmetal locations, the acquisition means more convenient options to recycle scrap with a larger company that is continuing to invest in facilities, equipment and overall customer experience.

About Scrap Management Industries (SMI)
Founded in 1973, Scrap Management Industries is a leading recycler of ferrous and nonferrous metals with locations in Kansas City and St. Joseph, Missouri, and multiple facilities across Kansas and Oklahoma. SMI focuses on transparent, ethical practices, clean and well-maintained facilities and community engagement, and continues to advance metal recycling technology and environmental stewardship. Learn more at smirecyclers.com.

Media Contact
Ryan Gerding
EAG Advertising & Marketing
406932@email4pr.com
816-665-1001

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SOURCE Scrap Management Industries

KANSAS CITY, Mo., Dec. 31, 2025 /PRNewswire/ — Scrap Management Industries, Inc. (SMI), one of the Midwest’s leading ferrous and nonferrous metal recycling companies, today announced it has acquired Allmetal Recycling, a scrap metal recycling company based in Kansas.

The acquisition expands SMI’s presence across the region by adding Allmetal’s network of 10 locations in Kansas, including three yards in Wichita and additional facilities in Salina, Newton, Harper, McPherson, Great Bend, Kingman and Pratt. With this significant combination, SMI will operate 5 Automobile Shredders – including two Mega Shredders – across 19 yards in three primary regions across Missouri, Kansas and Oklahoma with services spanning the surrounding states and communities.

“Allmetal is exactly the kind of company we want to grow with,” said Jerrit Burgess, CEO of Scrap Management Industries. “Both companies are family built and locally led. Allmetal has done an outstanding job serving Kansas communities and its industrial partners. Bringing their team into the SMI family allows us to offer more locations, more capacity and even better service while keeping decisions close to the communities we serve.”

Allmetal will continue to operate under its own name as part of the SMI family of companies. Allmetal customers and community partners will get the same great experience they have come to know while gaining access to the broader resources, relationships and operational support of SMI.

Allmetal Recycling was established in 2009 and is owned and operated by cousins Clint and Kolby Cornejo, who have built the company into a leading metal recycler in Kansas with a strong reputation for safety, service and community involvement. Both Clint and Kolby are remaining with the company in leadership roles as part of the combined organization and will continue to be actively involved in day-to-day operations.

“We have always believed that scrap metal recycling is a local business,” said Clint Cornejo. “SMI shares that belief. They are family owned, they understand the value of local teams and they are committed to investing in the people and facilities that make this business work.”

“Joining the SMI family allows us to keep doing what we do best for our customers and communities, while creating new opportunities for our employees as the combined business grows,” added Kolby Cornejo.

For industrial and commercial partners, the combined company can now provide a broader footprint, more container and transportation options and expanded capacity to handle complex scrap programs across multiple locations.

For walk-in customers at both SMI and Allmetal locations, the acquisition means more convenient options to recycle scrap with a larger company that is continuing to invest in facilities, equipment and overall customer experience.

About Scrap Management Industries (SMI)
Founded in 1973, Scrap Management Industries is a leading recycler of ferrous and nonferrous metals with locations in Kansas City and St. Joseph, Missouri, and multiple facilities across Kansas and Oklahoma. SMI focuses on transparent, ethical practices, clean and well-maintained facilities and community engagement, and continues to advance metal recycling technology and environmental stewardship. Learn more at smirecyclers.com.

Media Contact
Ryan Gerding
EAG Advertising & Marketing
406932@email4pr.com
816-665-1001

View original content to download multimedia:https://www.prnewswire.com/news-releases/scrap-management-industries-accelerates-growth-with-acquisition-of-allmetal-recycling-in-kansas-302650949.html

SOURCE Scrap Management Industries

KANSAS CITY, Mo., Dec. 31, 2025 /PRNewswire/ — Scrap Management Industries, Inc. (SMI), one of the Midwest’s leading ferrous and nonferrous metal recycling companies, today announced it has acquired Allmetal Recycling, a scrap metal recycling company based in Kansas.

The acquisition expands SMI’s presence across the region by adding Allmetal’s network of 10 locations in Kansas, including three yards in Wichita and additional facilities in Salina, Newton, Harper, McPherson, Great Bend, Kingman and Pratt. With this significant combination, SMI will operate 5 Automobile Shredders – including two Mega Shredders – across 19 yards in three primary regions across Missouri, Kansas and Oklahoma with services spanning the surrounding states and communities.

“Allmetal is exactly the kind of company we want to grow with,” said Jerrit Burgess, CEO of Scrap Management Industries. “Both companies are family built and locally led. Allmetal has done an outstanding job serving Kansas communities and its industrial partners. Bringing their team into the SMI family allows us to offer more locations, more capacity and even better service while keeping decisions close to the communities we serve.”

Allmetal will continue to operate under its own name as part of the SMI family of companies. Allmetal customers and community partners will get the same great experience they have come to know while gaining access to the broader resources, relationships and operational support of SMI.

Allmetal Recycling was established in 2009 and is owned and operated by cousins Clint and Kolby Cornejo, who have built the company into a leading metal recycler in Kansas with a strong reputation for safety, service and community involvement. Both Clint and Kolby are remaining with the company in leadership roles as part of the combined organization and will continue to be actively involved in day-to-day operations.

“We have always believed that scrap metal recycling is a local business,” said Clint Cornejo. “SMI shares that belief. They are family owned, they understand the value of local teams and they are committed to investing in the people and facilities that make this business work.”

“Joining the SMI family allows us to keep doing what we do best for our customers and communities, while creating new opportunities for our employees as the combined business grows,” added Kolby Cornejo.

For industrial and commercial partners, the combined company can now provide a broader footprint, more container and transportation options and expanded capacity to handle complex scrap programs across multiple locations.

For walk-in customers at both SMI and Allmetal locations, the acquisition means more convenient options to recycle scrap with a larger company that is continuing to invest in facilities, equipment and overall customer experience.

About Scrap Management Industries (SMI)
Founded in 1973, Scrap Management Industries is a leading recycler of ferrous and nonferrous metals with locations in Kansas City and St. Joseph, Missouri, and multiple facilities across Kansas and Oklahoma. SMI focuses on transparent, ethical practices, clean and well-maintained facilities and community engagement, and continues to advance metal recycling technology and environmental stewardship. Learn more at smirecyclers.com.

Media Contact
Ryan Gerding
EAG Advertising & Marketing
406932@email4pr.com
816-665-1001

View original content to download multimedia:https://www.prnewswire.com/news-releases/scrap-management-industries-accelerates-growth-with-acquisition-of-allmetal-recycling-in-kansas-302650949.html

SOURCE Scrap Management Industries

• Funds will be used to pay interconnection deposits which are required by utilities to complete the interconnection process and are refundable if a project does not reach commercial operation.
• This loan is expected to support interconnection deposits for an initial portfolio of 34 MW of solar power, battery energy storage and hybrid projects, with potential to support future projects.
• This loan allows PowerBank to further accelerate the growth of its Independent Power Producer portfolio by providing low-cost capital.

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.

TORONTO, Dec. 31, 2025 /PRNewswire/ – PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) (“PowerBank” or the “Company“), a leader in North American energy infrastructure development and asset ownership, today announced that it and its subsidiaries have entered into a loan agreement with NY Green Bank (“NYGB“) for a revolving credit facility with initial principal amount of up to $8 million USD (the “Loan“) that will be used to fund interconnection deposits for an initial portfolio of 50 MW of distributed solar power and battery energy storage projects located in New York State (the “Projects“). The Company will add projects to the portfolio beyond the initial 50 MW as they are ready.

NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), is a state-sponsored specialized fund that invests in New York State’s clean energy markets. Since its launch in 2013, NYGB has committed over $2.6 billion to projects supporting building decarbonization, clean transportation, energy storage, solar, and other sustainable infrastructure—expected to avoid up to 49.6 million metric tons of CO₂e and generate 69.5 million MMBTU in lifetime energy savings.

PowerBank CEO & President Dr. Richard Lu commented “The financing from NY Green Bank for this initial portfolio represents an excellent opportunity for PowerBank and our partners. This transaction reflects PowerBank’s established track record in New York State, and our strong working relationship with NYSERDA. As these projects advance, we’re excited to contribute to the region’s clean energy objectives.”

An interconnection deposit is a financial security (cash or letter of credit) a developer such as PowerBank pays to a utility or grid operator when requesting to connect a new solar power or battery energy storage project funding grid upgrades and project connection costs. These deposits are refundable if a project does not reach commercial operation. Due to the refundability of the deposits, the Loan provides a key revolving source of capital that allows PowerBank to execute on its development pipeline. As projects are monetized or reach commercial operation, PowerBank will be able to redeploy the proceeds of the Loan to additional projects.

The material terms of the Loan are as follows:

• the Loan will be advanced against payment of interconnection deposit payments to local utilities in New York in connection with the Projects;
• initial principal amount is up to $8 million USD, provided that NYGB in its discretion may increase the principal amount to up to $12 million USD;
• no shares are issuable in connection with the Loan; and
• the Loan is secured against the assets associated with the Projects and the Company has provided a guarantee of payment.

About PowerBank Corporation

PowerBank Corporation is a North American renewable energy developer and independent power producer specializing in distributed solar and Battery Energy Storage System (BESS) projects across Canada and the United States. The Company’s integrated business model encompasses project development, construction management, and long-term asset ownership, serving utility, commercial, industrial, municipal, and residential off-takers.

PowerBank’s diversified portfolio strategy spans multiple leading North American markets and includes utility-scale projects, host off-taker arrangements, community solar installations, and virtual net metering programs. The Company has successfully developed and constructed renewable energy projects exceeding 100 megawatts of combined capacity and maintains a robust development pipeline of over one gigawatt of potential future projects.

To learn more about PowerBank Corporation and its commitment to accelerating the clean energy transition, please visit www.powerbankcorp.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information ‎within the meaning of Canadian securities legislation (collectively, “forward-looking ‎statements”) that relate to the Company’s current expectations and views of future events. ‎Any statements that express, or involve discussions as to, expectations, beliefs, plans, ‎objectives, assumptions or future events or performance (often, but not always, through the ‎use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will ‎continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, ‎‎”projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be ‎forward-looking statements and may involve estimates, assumptions and uncertainties ‎which could cause actual results or outcomes to differ materially from those expressed in ‎such forward-looking statements. In particular and without limitation, this news release ‎contains forward-looking statements pertaining to the Company’s expectations regarding its industry trends and overall market growth; the Company’s growth strategies the expected energy production from the solar power projects mentioned in this press release; the terms and use of proceeds of the Loan; the reduction of carbon emissions; and the Company’s development pipeline. No assurance ‎can be given that these expectations will prove to be correct and such forward-looking ‎statements included in this news release should not be unduly relied upon. These ‎statements speak only as of the date of this news release.‎

Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: that the Owner will not exercise the Sell-Back Right; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and services offered by the Company’s competitors; that the Company’s current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.

Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Forward-‎Looking Statements” and “Risk ‎Factors” in the Company’s most recently completed Annual Information Form, and other public filings of the Company, which include: the Owner may exercise the Sell-Back Right and require the Company to reacquire any of the Projects and return the related funds received; the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company’s growth strategy depends upon the continued availability of third-party financing arrangements; the Company’s future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company’s project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements (“PPAs”) and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company’s effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company’s results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company’s insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.

The Company undertakes no obligation to update or revise any ‎forward-looking statements, whether as a result of new information, future events or ‎otherwise, except as may be required by law. New factors emerge from time to time, and it ‎is not possible for the Company to predict all of them, or assess the impact of each such ‎factor or the extent to which any factor, or combination of factors, may cause results to ‎differ materially from those contained in any forward-looking statement. Any forward-‎looking statements contained in this news release are expressly qualified in their entirety by ‎this cautionary statement.‎

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SOURCE PowerBank Corporation