Revolve completes private placement financing to continue expansion into the US market
Dublin, Ireland, September 7th, 2021 – Revolve Renewable Power, (“Revolve” or the “Company”) is pleased to report that the Company has completed a private placement of units totalling 3,837,219 at a price of €0.815 per unit to both existing and new investors in Revolve. Each unit comprises one Revolve common shares and one full common share purchase warrant entitling the holder to acquire one additional common share at a price of €1.20 per share for a period of 18 months (the “Revolve Units”). A number of Revolve’s existing directors and major shareholders participated in the private placement.
The funds will be used to continue to finance the Company’s expansion in the US market and to add further development assets to its active development portfolio over the coming months.
About Revolve Renewable Power
Revolve Renewable Power Limited (www.revolve-renewablepower.com) is in the business of developing utility scale renewable energy generation projects in North America with a particular focus on wind, solar and battery storage technologies.
The Company was established in 2012 and since then has successfully built a diversified portfolio of projects across the different renewable energy technologies in both the US and Mexican markets. It currently has a portfolio of 2.23 gigawatts (“GW”) of projects under active development and a further 1.16GW of greenfield opportunities, which it is in the process of converting to its pipeline in the near term.
Revolve is in the process of rapidly expanding its pipeline and development activities in the US and is targeting an active portfolio of up to 3GWs under development by the end of 2022 in addition to a 2GW target for Mexico.
Marisol Odriosabal Torres
+52 (55) 8032 6687