The Fort Worth Press - Revolve Reports a 15% Recurring Revenue Increase and Significant Progress Across North American Project Portfolio in Q2, F2026

"Revolve recorded a 15% increase in recurring revenue in Q2, 2026, from our 13-megawatt ("MW") portfolio of operating assets while making key investments in the continued development of our project pipeline," said CEO Myke Clark. "In addition to that revenue growth, the Revolve team achieved several milestones on our utility scale portfolio while continuing to expand our distributed generation pipeline and assess additional acquisition opportunities to accelerate our near-term recurring revenue stream even more aggressively. Finally, subsequent to the end of the quarter, Revolve closed a US$40 million a transformative strategic financing partnership that will solidify our balance sheet and help to accelerate our business plan."

Key financial highlights (all figures reported in USD):

• Total revenue of $717,457 compared to $621,927 in Q2, FY2025, an increase of 15%. Total revenue in Q2, FY2026 was comprised entirely of recurring revenue from operating assets.

• Energy Production of 5,179,733 kilowatt hours ("kWh") from operating assets, an increase of 17% from 4,441,039 kWh, compared to Q2, FY2025.

• Gross profit of $524,226, representing a gross profit margin of 73% compared to a gross profit of $488,605 representing a gross profit margin of 79% in Q2, FY2025.

• A net loss for the quarter of $858,947 compared to a net loss of $908,959 in Q2, FY2025, as a result of continued investment in developing Revolve's project development portfolio and capabilities.

• Cash and security deposits on the balance sheet as at December 31, 2025, was $1,487,169.

Key Business Highlights

Strategic Financing

On February 19, 2026, Revolve closed a transformative US$40 million strategic financing agreement with US-based Callaway that will unlock significant value for shareholders, accelerate the advancement of 3-gigawatt renewable energy portfolio and help build a North American energy powerhouse. US$10 million was funded on closing and provides Revolve with the necessary resources to advance new and existing projects, capitalize on growing electricity demand, and unlock long-term value while maintaining alignment with shareholder interests. The convertible loan structure is designed to align dilution with long-term value creation, with conversion prices that step up meaningfully in the second tranche, reflecting confidence in Revolve's growth trajectory.

Revolve believes this capital will enable Revolve to transition more rapidly toward a larger operating asset base, supporting long-term cash flow generation and shareholder value creation while increasing its footprint in digital infrastructure and energy-intensive sectors. With this long-term partner and a strengthened balance sheet, we are well positioned to execute our growth strategy, support digital infrastructure and electricity demand, and create sustainable shareholder value.

Develop and Sell

Revolve develops large utility scale projects from greenfield to ready-to-build, at which point it sells the development rights to large utilities and independent power producers.

1. Mexico: During Q2, 2025, Revolve was awarded a final Generation Permit for its 130 MW EL 24 Wind Farm Project (the "Project"), located in the state of Tamaulipas, Mexico, from the Comisión Nacional de Energía ("CNE"), Mexico's federal regulator for the renewable energy sector. The project was one of only 5 wind projects across the entire country granted a generation permit by CNE. The issuance of the CNE Generation Permit represents a critical regulatory milestone and materially advances El 24 toward ready-to-build ("RTB") status, positioning the project for advanced commercial discussions, financing, and potential monetization. Additionally, the Company is pleased to report material progress on the interconnection application process for the Project. Through its wholly owned subsidiary EPM Eolica 24, the Company formally submitted a request on February 17, 2026, for an interconnection agreement to the Comisión Federal de Electricidad ("CFE"). The Company expects CFE to issue the final interconnection agreement for signing in the coming weeks. The approval of the generation permit, combined with the interconnection milestone, confirm the project's technical feasibility and compliance with Mexico's regulatory framework and materially enhances its bankability.

   The Mexican government has also announced it will launch a further qualification window in 2026 for new projects to participate in the accelerate permitting process. The Company intends to evaluate this new qualification window and the potential to register the 400 MW Presa Nueva Wind Project for evaluation. The Company believes that its on-the-ground experience, local relationships, and disciplined development execution provide a competitive advantage as regulatory clarity improves.

   In October, 2025, the Mexican government announced a comprehensive plan for the growth and expansion of the electricity sector in the country with a specific focus on new renewable energy generation capacity and the role of private sector investment. The plan identified a requirement for capacity totalling 5,970MW from new wind and solar generation projects that would be delivered between 2026 and 2030 specifically from private generators such as Revolve. This new capacity requirement was then broken down into an initial list of preferred locations where projects in these areas would be considered for priority treatment under the federal plan.

2. US: The outlook for all forms of electricity generation projects in the US remains positive with regulatory certainty having been established through the changes made in administration legislation earlier in the year along with the rapidly increasing demand for electricity driven by the AI industry. The Company remains optimistic that the remaining milestone payments from the sale of the 1.25 GW Bouse & Power Solar and Storage projects to ENGIE, equating to between $40,000-$50,000 per MW, will be received in future periods. The Company continues to analyse further development opportunities in the US to add to our current portfolio.

Develop, Own & Operate

Revolve develops, builds, owns and operates smaller utility scale projects as well as distributed generation projects to generate recurring revenue. This revenue stream supported by a 13 MW operating portfolio. These projects form Revolve's stable platform for future growth based on long-life, contracted renewable energy assets.

1. Mexico: Revolve Expands Mexico Distributed Generation Business with New Partnership. On October 9, 2025, Revolve announced it has signed a partnership agreement dated October 8, 2025, with an experienced Engineer, Procure and Construct company (the "EPC Partner") in Mexico to develop and build a new portfolio of distributed generation power solutions for commercial and industrial customers, targeting two initial portfolios of commercial projects totaling more than 5 MW of capacity. The EPC Partner has previously developed more than 50 MW of distributed generation solar projects and brings valuable expertise to the partnership. The Company anticipates signing definitive agreements related to a first group of projects in the current quarter.

2. Canada: Revolve Receives Approval from the Alberta Utilities Commission for the 15.7 MW Bright Meadows Solar Project. On September 15, 2025, Revolve, announced that its wholly owned subsidiary, Revolve Meadows Solar GP Inc., has received Power Plant Approval (Decision 29985-D01-2025) from the Alberta Utilities Commission ("AUC") Bright Meadows Solar Project ("Bright Meadows Project"). Located in in the County of Wetaskiwin, Alberta, approximately 80 km south of Edmonton, the Bright Meadows Project is a 15.7 MW solar power project that will generate enough renewable electricity to power more than 3,700 homes once operational. AUC approval is the key regulatory permit required for the Bright Meadows Solar Project and we are now moving forward on the final interconnection and construction planning for this project.

3. US: The Company continues to make progress on its 20 MW/80MWh Vernal BESS and 49.5 MW Primus Wind projects with a particular emphasis on seeking commercial offtake solutions. Both projects are late-stage developments with signed interconnection agreements.

The Company also announces the grant of Deferred Share Units ("DSUs") to Company directors effective February 24, 2026. A total of 926,702 DSUs have been granted under the Company's Deferred Share Unit Plan adopted on July 6, 2022. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases their position with the Company. The DSUs vest one year from the date of grant. 418,077 were granted at a price of C$0.23 per share and 508,625 were granted at a price of $0.19 per share for the second quarter (Q2, 2026). The Company issues DSUs at the end of each quarter in lieu of cash director's fees to preserve working capital for project development initiatives.

For further information contact:

Myke Clark, CEO
[email protected]
778-372-8499

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. Revolve also installs and operates sub 20 megawatt ("MW") "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:

• Operating Assets: 13 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;

• Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000MWs as well as a 140MW+ distributed generation portfolio that is under development.

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

Forward Looking Information

The forward-looking statements contained in this news release constitute ''forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ''forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ''forward-looking statements"). The words "will", "expects", "estimates", "projections", "forecast", "intends", "anticipates", "believes", "targets" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward- looking statements contain these identifying words. Forward looking statements in this press release include statements with respect to the Company's business objectives and project development goals, including the planned use of proceeds under the Credit Agreement; expectations that the Credit Agreement will support the advancement of the Company's development pipeline, potential acquisition activity, and broader growth initiatives; expectations regarding the anticipated impact of the reconstituted Board; and expectations relating to the Company's capital markets strategy.

This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management's expectations include: the receipt of applicable regulatory approvals; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company's acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and our ability to continue investing in infrastructure to support our growth.

Risks and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, without limitation: the risk that required corporate, shareholder and regulatory approvals are delayed or not obtained; the risk that the Company is unable to draw additional amounts under Tranche A or that Tranche B is not made available or is made available later than anticipated; the risk that the Company's planned use of proceeds changes; the risk that the anticipated benefits of the convertible loan under the Credit Agreement are not realized; risks relating to the Company's ability to develop and advance its renewable energy projects (including permitting, interconnection, construction, supply chain and cost inflation risks); risks relating to acquisitions (including the ability to identify, negotiate and complete acquisitions on acceptable terms); and general market, economic, interest rate, foreign exchange, and industry conditions. Additional risks and uncertainties are described in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required by law.

Such statements and information reflect the current view of the Company. 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 the Company 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. The Company does not undertake to update this information at any time except as required in accordance with applicable laws.

"The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release."

SOURCE: Revolve Renewable Power Corp.

View the original press release on ACCESS Newswire

D.Johnson--TFWP