Revolve Announces Appointment of CFO

Rhea-AI Summary

Revolve Renewable Power Corp. appoints Ms. Tania Ontiveros as the new Chief Financial Officer, bringing over 15 years of experience in the renewable energy sector. The company aims to enhance financial reporting, treasury, and corporate finance capabilities, signaling a strategic move towards becoming an operator of renewable energy projects in the Canadian market.

VANCOUVER, BC / ACCESSWIRE / April 15, 2024 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a, North American owner, operator and developer of renewable energy projects, is pleased to announce the appointment of Ms. Tania Ontiveros as its new Chief Financial Officer ("CFO"), effective May 1, 2024.

Steve Dalton, CEO of Revolve, said: "We are delighted to welcome Tania to the Revolve team. Her experience, expertise and proven track record in the renewable energy sector will be an excellent addition to the Company and will significantly enhance our financial reporting, treasury and corporate finance skillset. Tania's appointment comes at an ideal time for the Company as we continue to accelerate our transition from a developer to an operator of renewable energy projects as well as expanding our presence in the Canadian market.

"I would also like to extend my sincere thanks to our outgoing CFO, Mr. Nick Furber, for his guidance and support during his time with the Company. Nick has been CFO on an interim basis since completing our RTO in March 2022 and has helped ensure a smooth transition from a private to public company. It has been a pleasure working with Nick and I wish him all the best in his future endeavors."

Ms. Ontiveros is a CPA, CGA with over 15 years of accounting, finance and operations experience in private companies in Canada with a specific focus on the renewable energy sector. Over the past twelve years she has held a variety of roles in Elemental Energy, a renewable energy operator and developer based in Vancouver, Canada. This included most recently as Director of Corporate Finance & Operations. Ms. Ontiveros has a B.A. in Public Accounting from Universidad De La Salle Bajio, Leon, Guanajuato, Mexico and is a member and chapter lead in British Columbia of the Women in Renewable Energy ("WiRE") (www.womeninrenewableenergy.ca).

"I'm excited to step into the role of CFO at Revolve. I look forward to leveraging my financial expertise to drive strategic decision-making and contribute to the continued success and growth of the organization," said Ms. Ontiveros.

In her role as CFO, Ms. Ontiveros will be a key part of the Revolve senior management team based in Vancouver and will oversee the financial aspects of the Company's operations, including financial planning, budgeting, strategic financial analysis, project financing and will play a crucial role in driving and supporting the Company's continued growth.

In connection with Ms. Ontiveros appointment and pursuant to Revolve's stock option plan, the Company issued to her 100,000 stock options to acquire common shares of the Company at an exercise price of $0.50 with a term of three years. These stock options will fully vest after one year following her appointment. The stock options are governed by the Company's stock option plan. Ms. Ontiveros appointment as CFO of the Company is subject to acceptance and approval by the TSX Venture Exchange.

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 with a portfolio of approx. 3,070MW under development. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve Renewable Business Solutions currently has an operating portfolio of 6MW with an additional 3MW under construction phase and 146MW under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" (or "RTB") 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.

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

For further information contact:

Steve Dalton, CEO
IR@revolve-renewablepower.com

Or

Sunita Prasad
VP, Corporate Development & Investor Relations
Phone:1-778-885-5550
IR@revolve-renewablepower.com

Forward Looking Information

Although Revolve believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Revolve can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the business plans of Revolve and Revolve's management's expectation on the growth and performance of its business in the United States and Mexico, including the planned MW capacity of its projects; its expansion into the distributed generation market; potential opportunities in the distributed generation market; the completion and timing of the development of its planned portfolio of distributed generation projects; potential revenues and cashflows generated from its DG division; and the Company's plans to develop, construct and finance rooftop solar, battery storage and energy efficiency projects of up to 5MW and enter into long term power purchase agreements for the sale of electricity from the projects with the underlying customers. Such statements and information reflect the current view of Revolve.

The forward-looking statements contained in this news release are based on current expectations, estimates, projections and assumptions, having regard to the Company's experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to the extent of regulations pertaining to the Company's projects and Revolve's ability to continue as going concern. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information, including but not limited to: the effects of weather, catastrophes and public health crises, including COVID-19; labour availability; disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; failure to obtain necessary regulatory approvals in a timely fashion, or at all; 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. Such statements and information reflect the current view of Revolve. By their nature, forward- looking statements involve known and unknown risks, uncertainties and other factors which may cause our 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 Revolve 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. Revolve does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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 accesswire.com

FAQ

Who is the new Chief Financial Officer of Revolve Renewable Power Corp.?

Ms. Tania Ontiveros is the new Chief Financial Officer of Revolve Renewable Power Corp.

What is Ms. Tania Ontiveros' background and experience?

Ms. Tania Ontiveros is a CPA, CGA with over 15 years of accounting, finance, and operations experience in private companies in Canada, specifically in the renewable energy sector.

What role will Ms. Tania Ontiveros play as CFO?

Ms. Tania Ontiveros will oversee the financial aspects of Revolve's operations, including financial planning, budgeting, strategic financial analysis, and project financing.

What stock options were issued to Ms. Tania Ontiveros upon her appointment?

Revolve issued 100,000 stock options to Ms. Tania Ontiveros at an exercise price of $0.50 with a term of three years. These options will fully vest after one year following her appointment.

What is the significance of Ms. Tania Ontiveros' appointment for Revolve Renewable Power Corp.?

Ms. Tania Ontiveros' appointment signifies a strategic move for Revolve towards enhancing financial capabilities and transitioning to become an operator of renewable energy projects in the Canadian market.