Powers Spencer Appointed as Callaway Representative and Roger Norwich Retires After Distinguished Tenure as Co-Founder

VANCOUVER, BC / ACCESS Newswire / April 14, 2026 / Revolve Renewable Power Corp. (CSE:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects, is pleased to provide a corporate update on its portfolio of renewable energy projects across North America and announces changes to its Board of Directors (the "Board").

Board Update

Effective April 13, 2026, Powers Spencer has been appointed to the Board as a representative of Callaway Capital ("Callaway"), the Company's strategic investor and financing partner. Concurrently, Roger Norwich is retiring from the Board. Dr. Norwich co-founded Revolve in 2012 and has served on the Board since the Company's inception. Over more than a decade, Dr. Norwich played an instrumental role in building Revolve from the ground up. The Board extends its sincere gratitude to Roger for his vision, leadership and enduring contributions, and wishes him well in his future endeavours.

"On behalf of the entire Revolve team, I want to express our deep appreciation to Roger Norwich for everything he has contributed to building this company," said CEO Myke Clark. "Roger was there from day one. His commitment, entrepreneurial spirit and strategic instincts helped lay the foundation that Revolve stands on today. We wish him every success going forward. At the same time, we are very pleased to welcome Powers Spencer to our Board. Callaway has been an outstanding partner since their strategic investment earlier this year, and Powers' appointment strengthens our governance as we continue executing our growth strategy across North America."

Mr. Spencer has worked closely with the Revolve team through his current role at Callaway, where he has focused on financial modeling and analysis, investment development, project finance, and debt facility structuring and administration since joining the firm in 2024. His appointment follows Callaway's strategic investment in Revolve earlier this year, which provided the Company with a credit facility to advance its development pipeline, support potential acquisitions, and accelerate broader growth initiatives. He also currently serves as the Chief Financial Officer of Galata Acquisition Corp. II (NASDAQ:LATA), a special-purpose acquisition company, after facilitating the company's IPO in September 2025. In addition to these current roles, he also brings to the Board a wealth of diverse experience from prior roles in the private healthcare sector and, most recently, energy project development and operation. Mr. Spencer received his bachelor's degree from Sewanee: The University of the South in 2017 and his MBA from College of Charleston in 2019.

Corporate and Project Update

Develop and Sell

Mexico: 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. On April 6, 2025, the Company announced that it had executed the final interconnection agreement with the Comisión Federal de Electricidad for its 130.5 megawatt ("MW") EL24 Wind Project, located in Tamaulipas, Mexico, completing a major milestone for the development of the project. The Interconnection Agreement defines the technical and commercial terms under which EL24 will connect to, and deliver power into, Mexico's national electricity grid. In addition to this the Company has received approval from SEMARNAT, Mexico's federal Secretariat of Environment and Natural Resources, for the first environmental permit required for the project site, securing another important milestone. The Company is assessing several potential development options for the 400 MW Presa Nueva Wind Project as Mexican regulators announced an expedited permitting process in order to procure several gigawatts of renewable energy by 2030.
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.

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 is supported by a 13 MW operating portfolio. These projects, in addition to the Company's portfolio of operating Distributed Generation projects in Mexico, form Revolve's stable platform for future growth based on long-life, contracted renewable energy assets.

Mexico: Revolve Signs Definitive Agreements For Portfolio Of 16 Distributed Generation Solar Projects In Mexico. On March 5, 2026, the Company, announced it has commenced construction on a portfolio of distributed generation solar projects in Mexico with a total capacity of 2.8 megawatts ("MW"). The Portfolio will be added to the 3 MW of operating assets Revolve currently owns in Mexico. The portfolio is expected to generate annual revenue in the range of US$620,000 to US$922,000, with annual EBITDA estimated in the range of US$533,000 to US$794,000, from the sale of electricity to the commercial customer. The Portfolio has an estimated capital cost of US$2.7 million, which will be funded by a combination of cash from the Company's balance sheet and project level debt. The first phase of the 16 projects is now under construction, and the entire portfolio is expected to be fully constructed and operational by August 2026. Following the recent strategic financing completed by Revolve, the Company intends to expand its behind the meter power solutions platform. A key part of this platform in Mexico is the partnership with RER Energy (announced on October 9, 2025). The announcement today focuses on the first 2.8 MW portfolio identified as part of an initial 5 MW pipeline. The work completed with RER Energy to date is expected to streamline the delivery of additional projects with standard project documentation and processes now agreed.
Canada: Revolve Achieves Key Interconnection Milestone with 15.7 MW Bright Meadows Solar Project in Canada. On March 2, 2026, the Company announced a significant milestone for its 15.7 MW Bright Meadows Solar Project located in Alberta, Canada. The Project has successfully completed Stage 2 of the Cluster Assessment and has officially transitioned into Stage 3 of the Alberta Electric System Operator ("AESO") interconnection process. The transition out of the Cluster Assessment is a significant de-risking event for the Project. During the previous stage, the Project was assessed alongside other regional generation facilities to determine its impact on the grid. Moving into Stage 3 of the interconnection process represents a move from the assessment phase into the execution phase, signaling that the Project has met the rigorous technical requirements necessary to move toward a final grid connection.
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 development with signed interconnection agreements. The Company is also assessing new development stage opportunities for solar projects and digital infrastructure projects.

"Revolve is well positioned to advance its development pipeline, pursue accretive growth opportunities and strengthen our recurring revenue stream. Our utility scale projects and distributed generation portfolio have all experienced strong progress during 2026, and we look forward to providing further updates on project milestones and corporate developments in the months ahead," concluded Clark.

For further information contact:

Myke Clark, CEO
IR@revolve-renewablepower.com
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.

Future-Oriented Financial Information

The Company's financial projections are inherently speculative and may prove to be inaccurate. Any financial projections provided in this press release have been prepared in good faith based upon estimates and assumptions that management considers reasonable as of the date hereof. However, projections are no more than estimates of possible future events and should not be relied upon to predict actual results.

Future‑oriented financial information ("FOFI") in this press release includes statements with respect to the anticipated annual revenue and EBITDA expected to be generated by the Company's portfolio of distributed generation solar projects currently under construction in Mexico, including estimated annual revenue in the range of US$620,000 to US$922,000 and estimated annual EBITDA in the range of US$533,000 to US$794,000, once such projects are fully constructed and operational. Such FOFI also includes assumptions regarding construction timelines, capital costs, project‑level financing, operating performance, customer demand, and the continued availability of applicable permits, interconnection approvals and long‑term commercial arrangements.

There is a risk that one or more of the assumptions underlying this future‑oriented financial information may not be realized. Risks include, without limitation, delays in construction or commissioning, cost overruns, changes in applicable laws or regulations, counterparty or customer credit risk, adverse weather conditions, changes in energy pricing, supply chain disruptions, and the risk that the projects do not perform in accordance with management's expectations. If any of these risks materialize, actual revenues and EBITDA may differ materially from the estimates disclosed in this press release.

The financial projections contained herein are based on a number of estimates and assumptions and have not been examined, reviewed, or compiled by independent accountants or other third‑party experts. Accordingly, there can be no assurance that actual results will be consistent with these projections. Variations from projected results may be material and adverse. This future‑oriented financial information is provided for illustrative purposes only and may not be indicative of the Company's actual consolidated financial position or results of operations.

The Company does not provide reconciliations of forward‑looking non‑GAAP financial measures, including EBITDA, to the most directly comparable GAAP financial measures, as it is unable to provide such reconciliations without unreasonable effort due to the inherent difficulty in forecasting the timing and amounts of items that have not yet occurred, are outside of the Company's control, or cannot be reasonably predicted. As a result, such forward‑looking non‑GAAP measures may differ materially from the corresponding GAAP financial measures.

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, development, construction and commercialization of renewable energy projects, and project development goals; expectations regarding the advancement, permitting, interconnection, construction, operation, ownership, sale and optimization of the Company's utility‑scale and distributed generation projects; expectations regarding the receipt and timing of milestone payments and other development revenues; the planned use of proceeds under the Credit Agreement and the expectation that such financing 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 of Directors; 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

Revolve Announces Change to Board of Directors and Provides Corporate Update