PowerBank Corporation (NASDAQ: PBK) announced that its wholly owned subsidiary, Abundant Solar Power Inc., has executed an Operations and Maintenance Services Agreement with Honeywell Aerospace Inc. (NASDAQ: HON) covering a 21-megawatt portfolio of three community solar projects in New York State.

The three projects, named SB 13-1, SB 13-2, and SB-14, are located on an industrial brownfield regulated by the New York State Department of Environmental Conservation. The agreement was confirmed following the successful commercial operation of the SB 13-2 project. Honeywell Aerospace assumed ownership of the projects from Honeywell International Inc. following the spinoff of Honeywell Aerospace on June 29, 2026.

The agreement covers routine inspection, maintenance, repair, and operational monitoring, and defines reporting obligations, cost responsibilities, and coordination protocols between the parties.

PowerBank had previously sold the projects to Honeywell in September 2023 and entered into an engineering, procurement, and construction agreement to build them through to commercial operation.

Andrew van Doorn, President and Chief Operating Officer of PowerBank, said, "Securing the O&M agreement on the Honeywell portfolio is a natural extension of the work our team has been executing from day one. When you develop, permit, build, and commission a project, you know it better than anyone, and that knowledge is exactly what makes for reliable long-term operations."

According to a company press release, PowerBank has developed and constructed over 100 megawatts of clean energy projects across North America and reports a development pipeline exceeding one gigawatt.