SolarBank cleared to list shares on Nasdaq Global Market

Small-scale solar project developer SolarBank Corp (CboeCA:SUNN, OTCQX:SUUNF) announced today that it has qualified and obtained approval to list its shares on the Nasdaq Global Market starting on Monday, April 8.

“As SolarBank's operations are primarily focused in the United States, it makes sense for SolarBank to trade in the US as an SEC registered company, and we believe this move will enhance our visibility in the marketplace, expose our company to a larger audience of investors and ultimately increase liquidity and shareholder value,” said CEO Richard Lu.

Toronto-headquartered SolarBank is an independent renewable and clean energy project developer and owner, active in Canada and the US. It has developed projects with a combined capacity of over 70 MW and has more than 1 GW of additional schemes in its pipeline.

The company is already trading its shares in Canada on the Cboe Global Markets and in the US on the OTC Market where it has a market capitalisation of more than USD 134 million (EUR 124.2m).

In March, SolarBank agreed to acquire a 3.15-MW development stage solar project located in the Town of Camillus, New York from Storke Renewables LLC. Earlier that month, it sealed an all-stock agreement to take over Solar Flow-Through Funds Ltd in a deal that will add to its portfolio 70 operating solar power sites totalling 28.8 MW DC, along with the target company’s 15-MW battery energy storage project pipeline.

(USD 1 = EUR 0.927)

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