SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) to Use Net Cash from Geddes Solar Power Project for Bitcoin Purchases

• The company’s 3.79 MW Geddes facility is expected to begin generating revenue in June 2025.
• The initiative marks one of the first integrations of renewable energy and Bitcoin treasury management.
• Management will determine Bitcoin allocation based on market conditions and operational cash flow.
• The Geddes site, built on a closed landfill, reflects SolarBank’s dual focus on clean energy and land repurposing.
• This move could be extended to other solar and battery energy storage projects across the company’s 1+ GW pipeline.

Disseminated on behalf of SolarBank Corporation

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., is moving forward with its plan to integrate Bitcoin into its treasury operations by directing net revenue from its soon-to-be-operational Geddes Solar Power Project toward the digital asset. This step marks the company’s first allocation of cash flow to Bitcoin since revealing its treasury strategy earlier in June 2025 (https://ibn.fm/u9bqQ).

The Geddes Project, located in New York State, has a designed capacity of 3.79 megawatts of direct current electricity. Built on a repurposed landfill, the site reflects a broader trend in renewable energy of transforming brownfield sites into productive infrastructure. Once operational, expected before the end of June 2025, the project will sell electricity to local community solar subscribers through power subscription agreements.

After accounting for capital, operating costs, and debt service, net cash generated from the project will be allocated at management’s discretion to purchase Bitcoin. Timing and amounts will depend on market conditions, liquidity needs, and the price of Bitcoin.

SolarBank CEO Dr. Richard Lu described the move as “a sustainable way to add Bitcoin to SolarBank’s balance sheet.” He added that the initiative offers a hybrid approach: combining stable revenue from renewable energy generation with potential upside from holding Bitcoin.

“I am pleased we are moving forward with the first step in our Bitcoin treasury strategy. Geddes is the largest power producing assets that SolarBank will have operational and this strategy provides a sustainable way to add Bitcoin to SolarBank’s balance sheet,” Lu said. “By converting solar energy revenue into digital assets, we’re creating a unique value proposition that combines the stable cash flows of renewable energy with the potential appreciation of Bitcoin, while supporting grid decarbonization and distributed energy resources (‘DER’) expansion.”

The company’s broader strategy involves examining whether additional solar and battery energy storage projects could adopt the same model. As SolarBank continues to scale its operations across North America, this could lead to a more formalized approach to integrating Bitcoin across its clean energy portfolio.

SolarBank currently operates more than 32 MW of installed renewable energy capacity, with a 1+ gigawatt development pipeline in progress. The Geddes Project is the largest asset in its portfolio to date.

The mechanics of the strategy follow a four-step process: solar energy is generated, sold to subscribers, net cash flows to the company, and a portion is used to purchase Bitcoin. This creates two streams of value: predictable energy revenue and Bitcoin holdings.

Bitcoin allocations may be paused, modified, or discontinued based on various business conditions. As of June 4, no purchases have yet been made. Management intends to provide specific allocation percentages after the Geddes Project begins commercial operation.

SolarBank’s move adds a new dimension to ongoing debates around the intersection of digital finance and clean energy. The company is one of the first renewable energy firms to tie Bitcoin directly to revenue from energy production. By allocating surplus cash from clean energy, it aims to balance environmental considerations with financial innovation. With top tier project partnerships, including deals with CIM Group, Qcells, and Honeywell, SolarBank continues to build a portfolio that merges renewable infrastructure with flexible financial planning.

For more information, visit the company’s website at SolarBankCorp.com.

There are several risks associated with the development of the projects detailed in this report. The development of any project is subject to the continued availability of third-party financing arrangements for the project owners and the risks associated with the construction of a solar power project. There is no certainty the projects disclosed in this report will be completed on schedule or that they will operate in accordance with their design capacity.

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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