REVOLVE RENEWABLE POWER - REVVF STOCK NEWS

Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) announced that shareholders approved all resolutions at its Annual and Special General Meeting (ASGM). The company elected eight directors to the board: Steve Dalton, Omar Bojorquez, Roger Norwich, Joseph O'Farrell, Susan Shaw, Jonathan Clare, JP Maguire, and Craig Lindsay. Following a previous announcement, Jonathan Clare resigned and Michael Clark was appointed as his replacement.

Shareholders also approved the appointment of Kreston GTA LLP as company auditors and re-approved the omnibus equity incentive plan.

Revolve Renewable Power has achieved a significant milestone by completing the interconnection process and signing an agreement with Tri-State Generation and Transmission for its 49.6MW Primus Wind Project in Colorado. The project is expected to be 'ready to build' by late 2025. Located in Kit Carson County, the wind project will consist of 11-13 turbines with an estimated annual energy output of 165-185GWh. The company has completed basic engineering works and secured a US$636,000 surety bond. Once operational, the project is forecasted to generate annual revenue of US$6-7m and EBITDA of US$4-5m.

Revolve Renewable Power reported significant growth in Q1 FY2025, with recurring revenue increasing 310% to $448,442 and energy production up 384% to 2,893,980 kWh compared to Q1 FY2024. The company expects annual recurring revenue between $1.8M-$2.2M from operating assets. Despite posting a net loss of $1,095,599, Revolve maintains a strong development pipeline of 3,015MW in utility-scale projects. Three major projects - the 20MW/80MWh Vernal BESS, 49.5MW Primus Wind, and 30MW Alberta project - are expected to reach 'ready to build' status by end of 2025.

Revolve Renewable Power has completed the acquisition of a 30 MW solar development project in Alberta, Canada. The project will be developed in two phases: 20 MW and 10 MW, with the first phase targeting ready-to-build status in early 2026 and commissioning by mid-2026. Located south of Edmonton, the first phase is expected to generate annual revenue of C$3.0m-C$5.0m and EBITDA of C$1.8m-C$3.0m. The project adds to Revolve's existing Canadian portfolio, which includes 6.63 MW of operational capacity and development projects totaling 240 MW across British Columbia and Saskatchewan.

Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) announces key executive management changes effective November 6, 2024. Current CEO Steve Dalton transitions to Executive Chairman, while Roger Norwich steps down as Chairman but remains a non-executive Director. Myke Clark joins as new CEO and Director, bringing over 20 years of renewable energy and corporate finance experience. Omar Bojorquez, current President, becomes Chief Operating Officer to manage operational structures. Jonathan Clare retires as non-executive director. The company granted Clark 500,000 stock options at $0.50 exercise price, vesting after one year.

Revolve Renewable Power reported strong financial results for FY2024, with revenues reaching US$6.74M, a 509% increase from FY2023 and 35% above forecast. The company achieved an Adjusted EBITDA of US$2.72M, significantly exceeding guidance of US$1.5M. Key highlights include US$4.25M in milestone payments from the ENGIE project sale, acquisition of WindRiver adding 6.63MW of operational capacity, and renewable energy generation of 8.05M kWh. The company maintains 3,015MW of utility-scale projects under development and a 150MW DG project pipeline. Net income reached US$2.6M, compared to a loss in FY2023.

Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) has announced the proposed acquisition of a 30MWp solar project in Alberta, Canada. The company's subsidiary, Revolve Meadows Solar GP Inc., will pay an upfront consideration of C$100,000 with potential additional payments up to C$790,000 based on project milestones. The project, located south of Edmonton, is expected to be developed in two phases (20MWp and 10MWp). Once fully commissioned, the first phase is projected to generate annual revenue of C$3.0m to C$5.0m and EBITDA of C$1.8m to C$3.0m. Revolve aims to have the first phase ready to build by early 2026, with commissioning targeted for mid-2026. This acquisition aligns with Revolve's strategy to expand its presence in the Canadian market and build a portfolio of utility-scale assets.

Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF), a North American renewable energy project developer, has announced the release date for its FY2024 financial results. The company plans to publish its June 30, 2024 full year financial statements on October 29, 2024, before the market opens at 8:00 AM Eastern Standard Time. Along with the financial statements, Revolve will provide supplementary information updating stakeholders on the business.

The company had previously updated its FY2024 Financial Guidance on June 20, 2024. However, specific details of this guidance were not included in the press release.

Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) has announced the grant of 308,944 Deferred Share Units (DSUs) to its directors, effective July 19, 2024. These DSUs, priced at C$0.33 per share, vest after one year and are issued quarterly in lieu of cash director's fees. Additionally, the company has granted 475,000 incentive stock options to officers, employees, and consultants, exercisable at $0.50 per share. These options will vest one year from the grant date and expire on August 30, 2027. Both the DSUs and stock options are subject to regulatory approval and a four-month resale restriction.