PowerBank wins $1.12 million NYSERDA incentive for 7.1 MW solar project, faces Nasdaq notice
PowerBank secured $1.12 million in NYSERDA incentives for its 7.1 MW Jordan Rd 2 community solar project in New York, powering 895 homes annually. The company received a Nasdaq notice for closing below $1.00 over 30 days and has 180 days to regain compliance or face listing transfer.
1. Incentives for Solar Project
PowerBank secured $1,119,618 in incentives under NYSERDA’s NY-Sun Program for its 7.1 MW Jordan Rd 2 community solar project, and the scheme’s Inclusive Community Solar Adder could provide an additional $1,576,590 following municipal and brownfield environmental approvals.
2. Project Details and Pipeline
The Jordan Rd 2 project will deliver enough clean energy to power approximately 895 homes annually on a privately owned brownfield site in Skaneateles Falls, New York, leveraging PowerBank’s track record of over 100 MW completed and a development pipeline exceeding 1 GW.
3. Nasdaq Listing Compliance Notice
PowerBank received a notice for closing below the $1.00 minimum bid-price over 30 consecutive business days, granting a 180-day compliance window until September 29, 2026 to restore the share price or face transfer to the Nasdaq Capital Market.