The Albany Gazette - Revolve Reports Stable Recurring Revenue and Significant Progress Across North American Project Portfolio in Q1, F2026

"Revolve recorded stable revenue in Q1 from our 13 megawatt ("MW") portfolio of operating assets while making key investments in the continued development of our project pipeline," said CEO Myke Clark. "Significant focus is now on our utility scale wind projects in Mexico, where regulators have accelerated the permitting process in order to bring several gigawatts of renewable energy projects online. Revolve's 130 MW El 24 Wind Project and 400 MW Presa Nueva Wind Project are extremely well positioned to benefit from this increased focus on renewable energy procurement in Mexico. Subsequent to the quarter end, Revolve completed an upsized C$3,000,000 financing, which was supported by a number of key institutional investors, family offices and insiders. This funding round strengthens our balance sheet and positions Revolve well to advance the progress of our late-stage renewable energy projects."

Key financial highlights (all figures reported in USD):

• Total revenue of $448,837 compared to $448,442 in Q1, FY2025. Total revenue in Q1, 2026 was comprised entirely of recurring revenue from operating assets.

• Energy Production of 2,796,378 kWh from operating assets, down 3% from 2,893,980 kWh, compared to Q1, FY2025.

• Gross profit of $285,183, representing a gross profit margin of 64% compared to a gross profit of $300,573 representing a gross profit margin of 67% in Q1, FY2025.

• A net loss for the quarter of $476,572, compared to a net loss of $1,095,599 in Q1, FY2025, the result of continued investment in developing Revolve's project development portfolio and capabilities.

• Cash and security deposits on the balance sheet as at September 30, 2025 was $1,046,961.

Key Business Highlights

Develop and Sell

1. Mexico: Revolve develops large utility scale projects from greenfield to ready-to-build, at which point it sells the development rights to large utilities and independent power producers. During Q1, Revolve made progress on the 130 MW El 24 Wind Project and 400 MW Presa Nueva Wind Project as Mexican regulators announced an expedited permitting process in order to procure several gigawatts of renewable energy by 2030. By investing in and holding these assets through key de-risking milestones, Revolve is positioned to benefit from enhanced project valuations and a stronger overall portfolio that aligns with the Company's long-term growth strategy.

2. US: The outlook for all forms of electricity generation projects in the US remains positive with regulatory certainty having been established through the changes made in administration legislation earlier in the year along with the rapidly increasing demand for electricity driven by the AI industry. The Company remains optimistic that the remaining milestone payments from the sale of the 1.25 GW Bouse & Power Solar and Storage projects to ENGIE, equating to between $40,000-$50,000 per MW, will be received in future periods. The Company continues to analyse further development opportunities in the US to add to our current portfolio.

Develop, Own & Operate

Revolve develops, builds, owns and operates smaller utility scale projects as well as distributed generation projects to generate recurring revenue. This revenue stream, supported by a 13 MW operating portfolio, is now benefiting from full utilization of the Windriver Power Corporation acquisition in 2024 and the addition of the Colima Distributed Generation ("DG") project in Mexico earlier in 2025. These projects, in addition to the Company's portfolio of operating DG projects in Mexico, form Revolve's stable platform for future growth based on long-life, contracted renewable energy assets.

1. Mexico: Revolve Expands Mexico Distributed Generation Business with New Partnership. On October 9, 2025, Revolve announced it has signed a partnership agreement dated October 8, 2025 with an experienced Engineer, Procure and Construct company (the "EPC Partner") in Mexico to develop and build a new portfolio of distributed generation power solutions for commercial and industrial customers, targeting two initial portfolios of commercial projects totaling more than 5 MW of capacity. The EPC Partner has previously developed more than 50 MW of distributed generation solar projects and brings valuable expertise to the partnership.

2. Canada: Revolve Receives Approval from the Alberta Utilities Commission for the 15.7 MW Bright Meadows Solar Project. On September 15, 2025, Revolve, announced that its wholly-owned subsidiary, Revolve Meadows Solar GP Inc., has received Power Plant Approval (Decision 29985-D01-2025) from the Alberta Utilities Commission ("AUC") Bright Meadows Solar Project ("Bright Meadows Project"). Located in in the County of Wetaskiwin, Alberta, approximately 80 km south of Edmonton, the Bright Meadows Project is a 15.7 MW solar power project that will generate enough renewable electricity to power more than 3,700 homes once operational. AUC approval is the key regulatory permit required for the Bright Meadows Solar Project and we are now moving forward on the final interconnection and construction planning for this project. Revolve would like to thank the County of Wetaskiwin, the local community and our partners for their support through the AUC process.

3. US: The Company continues to make progress on its 20 MW/80MWh Vernal BESS and 49.5 MW Primus Wind projects with a particular emphasis on seeking commercial offtake solutions. Both projects are late-stage development with signed interconnection agreements.

"The first quarter marked strong progress for Revolve as we significantly de-risked several projects, creating even stronger underlying value for shareholders. This business model - combining a growing recurring revenue stream with large project development - provides a stable foundation for growth and positions Revolve well for a strong conclusion to 2025 and beyond," concluded Clark.

Additionally, the Company announces it has granted an aggregate of 5,175,000 incentive stock options, subject to regulatory approval, to officers, employees and consultants of the Company under the stock option plan approved at the Annual and Special Meeting held on December 5, 2024. The grant follows the expiration of options granted in previous periods. The stock options are exercisable at a price of $0.40 per share. The options will vest one year from the date of grant and will expire November 25, 2028. A maximum of 10% of the Company's issued and outstanding shares are reserved for issuance under the Company's stock option plan.

For further information contact:

Myke Clark, CEO
[email protected]
778-946-0072

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico. Revolve also installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:

• Operating Assets: 13 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;

• Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000 MWs as well as a 140 MW+ distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 1,550 MW of projects.

Going forward, Revolve is targeting 5,000 MW of utility-scale projects under development in the US, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.

Forward Looking Information

The forward-looking statements contained in this news release constitute ''forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ''forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ''forward-looking statements"). The words "will", "expects", "estimates", "projections", "forecast", "intends", "anticipates", "believes", "targets" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the Company's project development and construction timelines, regulatory approvals, asset acquisitions and sales, strategic partnerships, expected energy production, and the advancement and monetization of its project pipeline. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management of the Company's ("Management") expectations include: the receipt of applicable regulatory approvals; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company's acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and our ability to continue investing in infrastructure to support our growth.

These and other uncertainties and risks could cause actual results to differ materially from those expressed or implied by the forward-looking statements or to cause the underlying assumptions to prove incorrect. Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; risks related to the development and potential development of the Company's projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR+ at sedarplus.ca. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates.

Future-oriented financial information ("FOFI") and financial outlooks contained in this release, including statements regarding estimated capital expenditures, anticipated milestone payments, and projected financial outcomes from project sales or partnerships and, are provided for illustrative purposes only and are subject to the same assumptions, risk factors, and uncertainties described above with respect to forward-looking information. Such FOFI reflects Management's current estimates and assumptions considered reasonable in the circumstances, which may prove incorrect. Actual financial results may differ materially from Management's expectations, and such variations may be material and adverse. The Company's financial projections are inherently speculative, were not prepared with a view toward compliance with applicable GAAP and have not been reviewed or audited by independent accountants or other third-party experts, and should not be relied upon as indicative of future results.Such information is presented for illustrative purposes only and may not be an indication of our actual financial position or results of operations.

Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements or FOFI to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements or FOFI whether because of new information, future events or otherwise, except as required by law.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

SOURCE: Revolve Renewable Power Corp.

View the original press release on ACCESS Newswire

(K.Jones--TAG)