PowerBank shares surge 10.97% after-hours after raising $13.68M via ATM offering to fund renewable projects.

PowerBank surged 10.97% in after-hours trading following the announcement that it successfully raised $13.68 million via an "at-the-market" equity offering. The proceeds will fund the development of its renewable energy projects, strengthen its balance sheet, and support its growth as an independent power producer. The company highlighted its expanding pipeline exceeding one gigawatt and emphasized the strategic importance of the capital raise in advancing solar and battery storage initiatives. CEO Dr. Richard Lu underscored the financing’s role in accelerating project development and enhancing shareholder value, reinforcing confidence in PowerBank’s long-term prospects. The news directly aligns with the stock’s upward movement, reflecting investor optimism about the company’s financial flexibility and clean energy expansion.