The Albany Gazette - Revolve Reports FY2026 Financial Results and Advances Growth Through Project-Level Financing and Strategic Acquisitions

"FY2026 was a year of substantial investment in the next phase of Revolve's growth," said CEO Myke Clark. "We advanced construction of new distributed generation projects in Mexico, strengthened our financing platform and continued to invest in our development pipeline. Following year end, we added operating battery storage and wind assets in Canada and the United States and established long-term project-level financing for our Mexico distributed generation portfolio. These steps support our strategy of growing recurring revenue, using project-level financing and recycling capital into additional operating and development opportunities."

Key financial highlights (all figures reported in USD):

• Total revenue of $2,395,384 in FY2026, compared with $3,983,226 in FY2025. FY2025 included $1,741,869 of project asset sale revenue, while FY2026 revenue was generated from electricity sales, distributed generation finance income and asset management income.
• Recurring revenue from operating activities of $2,395,384, compared with $2,241,357 in FY2025, representing an increase of approximately 7%.
• Gross profit of $1,636,226, representing a gross margin of approximately 68%, compared with gross profit of $3,238,341 in FY2025.
• Net loss of $4,866,082, compared with a net loss of $2,590,122 in FY2025.
• Cash of $3,639,716 as at June 30, 2026, compared with $1,267,082 as at June 30, 2025.

Key business highlights and subsequent events:

• Banco Multiva project-level financing. On August 27, 2026, the Company announced a MXN$450 million financing facility, approximately US$24 million, for the development, construction and refinancing of distributed generation projects in Mexico. The facility comprises two MXN$225 million tranches, has a 14-year term from signing and provides financing for up to 75% of eligible project costs. The Company completed an initial drawdown of approximately MXN$128.8 million, or US$7.7 million.
• Bridge credit facility. On July 31, 2026, the Company entered into an $11 million bridge credit facility with Whitfield Power Solutions, LLC, an affiliate of Callaway Capital Management LLC. The facility was fully drawn, and the proceeds were used to fund the Ontario battery storage and Horseshoe Bend acquisitions and other targeted acquisition activity.
• Ontario battery storage acquisition. On August 12, 2026, the Company completed the acquisition of six operating behind-the-meter battery energy storage projects in Ontario with total capacity of approximately 14.2 MW.
• Horseshoe Bend wind acquisition. On September 11, 2026, the Company completed the acquisition of the 9.6 MW operating Horseshoe Bend wind project in Great Falls, Montana.
• On September 10, 2026, the Company acquired the remaining 10% ownership interest in MRE US Wind & Solar Inc. from Running Foxes Wind & Solar LLC for total cash consideration of $625,000. Following the completion of the transaction, the Company holds 100% of the outstanding ownership interests in MRE US Wind & Solar Inc., making it a wholly owned subsidiary of the Company.
• Proposed Whitfield transaction. As announced on September 15, 2026, the Company entered into an arrangement agreement with Whitfield Power Solutions, LLC under which Whitfield agreed to acquire all the issued and outstanding common shares of the Company. Please refer to the news release dated September 15, 2026, for full details: https://revolve-renewablepower.com/revolve-and-whitfield-power-solutions-to-combine/. The proposed transaction remains subject to shareholder, court, regulatory and other customary approvals and conditions.

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 20 megawatt ("MW") "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:

• Operating Assets: 38 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 3,000MWs as well as a 140MW+ 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 1,550MW of projects.

Future-Oriented Financial Information

The Company's financial projections are inherently speculative and may prove to be inaccurate. Any financial projections provided in this press release have been prepared in good faith based upon estimates and assumptions that management considers reasonable as of the date hereof. However, projections are no more than estimates of possible future events and should not be relied upon to predict actual results.

Such FOFI is based on assumptions regarding the completion of the Acquisition, the Project's continued operating performance, future wind resource availability, energy production levels, electricity pricing, operating and maintenance costs, the continued availability of required permits and approvals, the performance of counterparties under contractual arrangements, and general market and economic conditions.

There is a risk that one or more of the assumptions underlying this future-oriented financial information may not be realized. Risks include, without limitation, the Acquisition not being completed on the terms or timeline anticipated, or at all, adverse weather conditions, lower-than-expected energy production, changes in electricity prices, operational performance risks, equipment failure or maintenance issues, increases in operating costs, counterparty risks, changes in applicable laws or regulations, supply chain disruptions, and general market and economic conditions. If any of these risks materialize, actual revenue and EBITDA may differ materially from the estimates disclosed in this press release.

The financial projections contained herein are based on a number of estimates and assumptions and have not been examined, reviewed, or compiled by independent accountants or other third-party experts. Accordingly, there can be no assurance that actual results will be consistent with these projections. Variations from projected results may be material and adverse. This future-oriented financial information is provided for illustrative purposes only and may not be indicative of the Company's actual consolidated financial position or results of operations.

Non-GAAP Financial Measures

This press release refers to EBITDA, which is a non-GAAP financial measure and does not have a standardized meaning under IFRS Accounting Standards. Accordingly, EBITDA may not be comparable to similarly titled measures used by other companies. The presentation of EBITDA in this press release is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS Accounting Standards.

EBITDA is calculated as net income before interest, taxes, depreciation and amortization. Management believes that EBITDA provides useful supplemental information regarding the expected operating performance of the Horseshoe Bend Wind Project by excluding certain expenses that may not be indicative of the Project's core operating performance. Management uses EBITDA to evaluate operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital.

The EBITDA projections in this press release are forward-looking non-GAAP financial measures. The Company does not provide a reconciliation of forward-looking EBITDA to the most directly comparable IFRS financial measure because the Company is unable to do so without unreasonable effort due to the inherent difficulty in forecasting the timing and amounts of items that have not yet occurred, are outside of the Company's control or cannot be reasonably predicted, including interest expense, taxes, depreciation and amortization. As a result, actual EBITDA may differ materially from the amounts disclosed in this press release, and such differences may be material.

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.

This forward-looking information and other forward-looking information are based on management's current expectations, estimates, projections and assumptions, including assumptions regarding completion of the Acquisition, the continued operation and performance of the Project, future wind resources and electricity pricing, the performance of contractual counterparties, the availability of financing and liquidity, regulatory stability, and general economic and market conditions.

Risks and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, without limitation: the risk that the Acquisition is not completed on the terms or timeline anticipated, or at all; risks relating to the Company's ability to operate the Project and realize the anticipated benefits of the Acquisition; operational performance, permitting, interconnection, equipment failure, maintenance, cost inflation and weather-related risks; risks relating to financing and compliance with obligations under the Loans; risks relating to counterparties and contractual arrangements; risks relating to acquisitions generally; changes in electricity prices; and general market, economic, interest rate, foreign exchange and industry conditions. Additional risks and uncertainties are described in the Company's continuous disclosure filings available on SEDAR+ at www.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. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements 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 whether because of new information, future events or otherwise, except as required by law.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to update this information at any time except as required in accordance with applicable laws.

"The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release."

SOURCE: Revolve Renewable Power Corp.

View the original press release on ACCESS Newswire

(L.Thomas--TAG)