02:54:09 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Revolve Renewable Power Corp
Symbol REVV
Shares Issued 63,036,116
Close 2024-04-12 C$ 0.33
Market Cap C$ 20,801,918
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Revolve Renewable appoints Ontiveros as CFO

2024-04-15 13:38 ET - News Release

Mr. Steve Dalton reports

REVOLVE ANNOUNCES APPOINTMENT OF CFO

Revolve Renewable Power Corp. has appointed Tania Ontiveros as its new chief financial officer, effective May 1, 2024.

Steve Dalton, CEO of Revolve, said: "We are delighted to welcome Tania to the Revolve team. Her experience, expertise and proven track record in the renewable energy sector will be an excellent addition to the Company and will significantly enhance our financial reporting, treasury and corporate finance skillset. Tania's appointment comes at an ideal time for the Company as we continue to accelerate our transition from a developer to an operator of renewable energy projects as well as expanding our presence in the Canadian market.

"I would also like to extend my sincere thanks to our outgoing CFO, Mr. Nick Furber, for his guidance and support during his time with the Company. Nick has been CFO on an interim basis since completing our RTO in March 2022 and has helped ensure a smooth transition from a private to public company. It has been a pleasure working with Nick and I wish him all the best in his future endeavors."

Ms. Ontiveros is a CPA, CGA with over 15 years of accounting, finance and operations experience in private companies in Canada with a specific focus on the renewable energy sector. Over the past twelve years she has held a variety of roles in Elemental Energy, a renewable energy operator and developer based in Vancouver, Canada. This included most recently as Director of Corporate Finance & Operations. Ms. Ontiveros has a B.A. in Public Accounting from Universidad De La Salle Bajio, Leon, Guanajuato, Mexico and is a member and chapter lead in British Columbia of the Women in Renewable Energy ("WiRE") (www.womeninrenewableenergy.ca).

"I'm excited to step into the role of CFO at Revolve. I look forward to leveraging my financial expertise to drive strategic decision-making and contribute to the continued success and growth of the organization," said Ms. Ontiveros.

In her role as CFO, Ms. Ontiveros will be a key part of the Revolve senior management team based in Vancouver and will oversee the financial aspects of the Company's operations, including financial planning, budgeting, strategic financial analysis, project financing and will play a crucial role in driving and supporting the Company's continued growth.

In connection with Ms. Ontiveros appointment and pursuant to Revolve's stock option plan, the Company issued to her 100,000 stock options to acquire common shares of the Company at an exercise price of $0.50 with a term of three years. These stock options will fully vest after one year following her appointment. The stock options are governed by the Company's stock option plan. Ms. Ontiveros appointment as CFO of the Company is subject to acceptance and approval by the TSX Venture Exchange.

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 with a portfolio of approx. 3,070MW 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 6MW with an additional 3MW under construction phase and 146MW under development.

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

Revolve is targeting 5,000MW of utility-scale projects under development in the US, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG (distributed generation) assets.

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