PowerBank Corporation (NASDAQ: PBK) shares posted slight gains at first Friday. The company, purporting to be a leader in independent energy development and asset ownership in North America, announced that it has been awarded a contract to construct a photovoltaic array, electric vehicle chargers and associated infrastructure for the United States Federal Government.
The Contract was awarded to PowerBank Corporation's US subsidiary Abundant Solar Power Inc. and was granted by the United States Department of Defense and the Department of the Army for the Armed Forces Reserve Center Farmingdale in Farmingdale, New York. The AFRC Farmingdale facility serves the Army Reserve, the Naval Reserve, the Marine Corps Reserve, and the New York National Guard.
The Company responded to a federal solicitation administered by the US Army Corps of Engineers for the Project, which will provide onsite power and electric vehicle charging capabilities to the facility. The Company has received Notice to Proceed under the Contract, and will commence with the engineering, procurement and construction of the Project which will be retained by the Owner.
Shares in PBK began Friday acquired six cents, or 8.8%, to 79.5 cents.
