Mr. Myke Clark reports

REVOLVE SECURES US$1.5 MILLION FROM PROJECT SALE; PROCEEDS TO BE REINVESTED INTO HIGHER RETURN PROJECTS

Revolve Renewable Power Corp. has sold a three-megawatt combined heat and power (CHP) project from its distributed generation portfolio for total cash consideration of $1.5-million (U.S.). The CHP project was originally acquired by Revolve in August, 2022, as part of the $1.4-million (U.S.) acquisition of Centrica Business Solutions Mexico S.A. de C.V. (CBS Mexico).

The CBS Mexico portfolio included operational distributed generation projects with a total capacity of 2.85 megawatts (MW) and the CHP project, which was fully constructed and awaiting final permits and was not operating. The company has decided to take advantage of an offer from an industrial customer to acquire the CHP project and to redeploy the capital from the sale into other near-term development opportunities. The company continues to own and operate the remaining 2.85 MW portfolio, selling electricity to a group of industrial customers under long-term power purchase agreements.

The proceeds from the sale will be reflected as revenues in the company's third quarter, fiscal year 2025 financial results.

"The sale of this asset will strengthen Revolve's balance sheet and allow us to advance additional project and corporate initiatives," said chief executive officer Myke Clark. "We regularly assess our assets to determine optimal capital allocation -- in the case of this CHP equipment, we took the opportunity to monetize this asset for total proceeds of $1.5-million (U.S.) and reinvest that capital into higher return near-term opportunities. The original acquisition cost of the CHP unit, combined with the six operating assets, was $1.4-million (U.S.). The sale highlights the ability of the company to identify highly attractive acquisition opportunities and to generate excellent returns for shareholders."

The solar and battery storage projects acquired from CBS Mexico remain the cornerstone of Revolve's distributed generation (DG) portfolio and contribute strong cash flows as part of our broader portfolio of operating renewable energy assets. The company continues to add to this recurring revenue stream through the addition of new DG projects. As announced on Jan. 15, 2025, the 451-kilowatt Colima solar project located in Mexico was commissioned and is now operating.

About Revolve Renewable Power Corp.

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 United States, Canada and Mexico. The company has a second division, Revolve Renewable Business Solutions which installs and operates sub-20 MW "behind the meter" distributed generation assets.

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