Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) is a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S. The company recently announced plans to begin holding bitcoin as part of its treasury reserves, marking SolarBank as one of the early adopters of what is becoming an increasingly common approach among publicly traded firms. “The concept of a bitcoin treasury strategy involves companies allocating a portion of their cash or reserves into the cryptocurrency. While it remains a relatively niche approach, a report by Reuters notes that 61 publicly listed companies not primarily focused on digital assets have now adopted such strategies,” reads an article discussing the move. “SolarBank says the decision is designed to align the company with emerging digital asset infrastructure while differentiating its utility-focused profile from competitors.”
“Traditionally, people invest in utilities as [an] afterthought. It’s a very low return. It’s a stable return,” CEO Richard Lu told Reuters. “So, how do we bridge the excitement of the new world and a classic industry? We feel that the crypto part of that is a bridge we need to cross.”
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About SolarBank Corporation
SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The company develops solar, battery energy storage system (“BESS”) and EV charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “Bitcoin Purchases to be made by SolarBank Using Net Cash from Geddes Solar Power Project” for additional details on the statements, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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