Revolve Announces Forward Guidance for FY2023 Financial Results and a FY2024 Financial Forecast

VANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company") an owner, operator and developer of renewable energy projects is pleased to announce that it plans to release its June 30, 2023 full year financial statements ("FY2023") on October 30, 2023 before the markets open at 8am Eastern Time. The Company will publish its FY2023 financial statements along with supplementary information providing an update on the business.

FY2023 Financial Guidance

Ahead of this publication the Company is pleased to provide the following forward-looking guidance in respect of expected revenues and EBITDA[1] for FY2023. Revenues for the period FY2023 are expected to be in the region of US$1.1m with an EBITDA¹ loss of US$1.9m. This compares with Nil revenue and an EBITDA¹ loss of US$3.7m for the 12 month period ending June 20, 2022 ("FY2022").

FY2024 Financial Forecast

The Company has also completed its corporate strategy and financial forecasting for the financial year ending June 30, 2024 ("FY2024") and is pleased to provide the following forward-looking guidance in respect of forecasted revenues and EBITDA¹ for FY2024.

The Company is projecting revenue to increase to US$5m and to be breakeven at an EBITDA¹ level for FY2024. The increased revenues and profitability is expected to be driven by the Company's existing operational distribution generation portfolio as well as in particular further contingent milestone payments from utility scale projects previously sold to 3^rd parties.

An updated corporate presentation inclusive of its FY2024 corporate strategy and financial guidance can be found on the investor section of the Company's website www.revolve-renewablepower.com

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar and battery storage projects in the US and Mexico with a portfolio of approx. 2,350MW under development. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve Renewable Business Solutions currently has an operating portfolio of 2.85MW with an additional 6.2MW under construction phase and 71.8MW under development.