Revolve Renewable Power (CSE:REVV) has agreed to acquire six operating battery storage projects in Ontario, Canada, for C$7.63 million ($7.71 million).
The Trillium portfolio comprises 14.2MW/24.3MWh of battery storage capacity across commercial and industrial sites.
Revolve executed definitive agreements on 31 July 2026 to acquire 100% of Trillium Storage Limited Partnership and Trillium Storage GP. The transaction remains subject to customary closing conditions and applicable approvals.
The company says it plans to fund the purchase using part of a fully drawn US$11 million ($15.58 million) bridge loan from Whitfield Power Solutions.
The nine-month facility carries interest of 20% per annum, payable in kind and capitalised monthly. Revolve says the remaining proceeds will support other acquisition opportunities.
Whitfield is an affiliate of Callaway Capital Management, which holds securities representing more than 10% of Revolve’s voting rights on an assumed-conversion basis.
The financing is therefore a related-party transaction under Canadian securities rules. Revolve is relying on exemptions from formal valuation and minority shareholder approval requirements, and says the loan will not increase Callaway’s equity position.
Based on historical operating data, independent energy price analysis, and management estimates, Revolve forecasts annual portfolio revenue of C$2.12 million–2.97 million.
Annual earnings before interest, taxes, depreciation, and amortisation are projected at C$1.62 million–2.79 million. The company cautions that these figures are forward-looking and depend on factors including operating performance, energy prices, and continued commercial arrangements.
CEO Myke Clark says the acquisition would add operating and contracted assets to Revolve’s development pipeline.
“Upon closing, this portfolio is expected to bring six operating, contracted storage assets onto our balance sheet, be accretive to our total revenue from day one and diversify our operating revenue across a new set of high-quality commercial and industrial customers,” Clark says.
Stem (NYSE:STEM) is expected to continue operating the six sites under the existing services agreement.
The portfolio would complement Revolve’s existing 13MW net operating portfolio of wind, solar, hydro, and battery storage assets across Canada and Mexico.
Write to France Pinzon at Mining.com.au
Images: Revolve Renewable Power
