Revolve Reports FY2026 Financial Results and Advances Growth Through Project-Level Financing and Strategic Acquisitions
Vancouver, BC, October 20, 2026 – Revolve Renewable Power Corp. (CSE:REVV) (OTCQB:REVVF) (“Revolve” or the “Company”), a North American owner, operator and developer of renewable energy projects, reported its financial results for the year ended June 30, 2026 (“FY2026”). This earnings release should be read in conjunction with the Company’s consolidated financial statements and management’s discussion and analysis, which are available on the Company’s website at www.revolve-renewablepower.com and have been posted on SEDAR+ at www.sedarplus.ca. All amounts reported are in US dollars.
“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.
Forward-looking Statements
Certain statements in this press release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These forward looking statements include, among others, statements relating to the anticipated benefits and other impacts of the Transaction, Revolve’s business, financial condition and prospects, the required court, regulatory, shareholder and other approvals, the satisfaction or waiver of closing conditions for the Transaction, the mailing and contents of the management information circular and the timing thereof, the anticipated date of the Meeting, the anticipated timing of the closing of the Transaction, the delisting of the Shares from the CSE, the expected application to have Revolve cease to be a reporting issuer following completion of the Transaction, the strategic rationale for combining Revolve and WPS, the expected benefits and synergies of the combined company’s integrated power-and-AI-compute platform, the combined company’s business strategy and growth plans, and management’s expectations regarding market conditions and competitive positioning. Words such as “expects”, “anticipates”, “projects”, “intends”, “plans”, “will”, “believes”, “seeks”, “estimates”, “should”, “may”, “could”, and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on current expectations and beliefs and actual events or results may differ materially.
Although the Company believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from the expectations of the management of the Company and plans as set forth in such forward-looking statements, including, without limitation, the following factors, many of which are beyond the Company’s control and the effects of which can be difficult to predict: the possibility that the Transaction will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due
to a failure to obtain or satisfy, in a timely manner or otherwise, required court, shareholder and regulatory approvals and other conditions of closing necessary to complete the Transaction or for other reasons; the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Transaction; risks relating to the Company’s ability to retain and attract key personnel during the interim period; the possibility of litigation relating to the Transaction; credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Transaction, including changes in economic conditions, interest rates, commodity prices, tariffs, duties and import taxes; and/or factors beyond their control which could have a material adverse effect on the Company, or the ability to consummate the Transaction; risks related to the integration of Whitfield and the ability of the combined company to realize the anticipated benefits of the Transaction; and risks and uncertainties related to the combined company’s data center development plans, the AI compute and data center industry, and the competitive landscape. With respect to the forward-looking statements contained in this news release, the Company has made numerous assumptions regarding, among other things, the ability of the Company to satisfy all of the closing conditions to complete the Transaction, the combined company’s ability to successfully integrate and execute on its business strategy and the non-occurrence of the risks and uncertainties that are described in the public filings of the Company or other events occurring outside of our normal course of business.
The Company cautions that the foregoing list of important factors and assumptions are not exhaustive and other factors could also adversely affect its results. For more information on the risks, uncertainties and assumptions that could cause the Company’s actual results to differ from current expectations, please refer to the “Risk and Uncertainties” section of the Company’s Management’s Discussion & Analysis for the three months ended March 31, 2026 as well as the Company’s other public filings, available at sedarplus.ca.
The forward-looking statements contained in this news release describe the Company’s expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable Canadian securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
No Offer or Solicitation
Communications in this press release do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. None of the securities anticipated to be issued pursuant to the Transaction have been or will be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and any securities issued in the Transaction are anticipated to be issued in reliance upon available exemptions from registration requirements pursuant to Section 3(a)(10) of the Securities Act and applicable exemptions under state securities laws. The securities that may be issued in the Transaction have no established trading market. WPS will have no obligation to, and does not intend to, list such securities for trading on any securities exchange nor to register such securities for resale under the Securities Act.