PowerBank Secures $2.95M US Army Contract for Solar Canopy and EV Charging Infrastructure

PowerBank Corporation (NASDAQ: PBK) has been awarded a $2,950,000 USD federal contract with the US Department of Defense and the Department of the Army for a covered parking canopy solar project, the Toronto-based company announced via PR Newswire on June 26, 2026. The contract encompasses the installation of solar-equipped covered parking canopies alongside electric vehicle (EV) charging infrastructure, reflecting the US military's continued push to modernise energy systems across its installations and reduce dependence on conventional grid power. PowerBank, which describes itself as a leader in independent energy development and asset ownership, is listed on the NASDAQ, Cboe Canada, and Frankfurt Stock Exchange. The award represents a significant federal contract win for the company and underscores growing momentum in government-backed clean energy deployments at defence facilities. **Defence Sector Drives Clean Energy Investment** The US Department of Defense has been an increasingly active driver of renewable energy adoption, with installations across the country integrating solar generation, battery storage, and EV charging as part of broader energy resilience strategies. Contracts of this nature serve dual purposes: reducing operational energy costs and strengthening energy security at critical military sites. While this particular project is land-based, the integration of solar and EV charging infrastructure at defence facilities carries relevance for the maritime sector. US Navy and Coast Guard installations face similar energy modernisation mandates, and technologies proven in Army deployments are frequently adapted for port and waterfront defence facilities. The EV charging component also aligns with the US federal government's wider electrification agenda, which extends to shore-side maritime operations, including the electrification of port vehicles, tugboats, and vessel-to-shore power connectivity. PowerBank has not disclosed the specific Army installation that will host the project. Further details are expected as the project moves into the construction phase. *Source: PR Newswire*