Reports Q1 revenue $19.15M, consensus $14.01M. CEO Richard Lu commented: “I am pleased that PowerBank (SUUN) has returned to profitability this quarter with increased revenues and a further improvement in gross margin. With Geddes project coming online during the quarter, PowerBank continues the growth of its independent power producer portfolio. With the compressed timelines to commence construction of projects and retain eligibility for U.S. tax credits, PowerBank remains focused on rapidly advancing its project development pipeline through completion of project financings to support IPP portfolio growth, and project sales to strategic partners to drive revenues.”
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