VANCOUVER, British Columbia, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Revolve Renewable Power Corp. REVV REVVF (" Revolve " or the " Company "), a North American owner, operator and developer of renewable energy projects, is pleased to announce that CEO Myke Clark will present live at the Small Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com, on December 5 th , 2024. DATE : December 5 th TIME: 11:30am ET LINK: https://bit.ly/3Yknp3z Mr. Clark is also available for 1x1 meetings. Mr. Clark will provide an update on Revolve's renewable energy project pipeline and corporate catalysts, including: A review of Q1, F2025 results including a 300% increase in the Company's long-term recurring revenue stream. The recent completion of a major interconnection milestone at the Company's 49.6MW Primus Wind project in the U.S. The recent acquisition of a 30 MW solar development project in Alberta, Canada and the current permitting process. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. Learn more about the event at www.virtualinvestorconferences.com . For further information contact: Myke Clark, CEO IR@revolve-renewablepower.com 778-372-8499 A bout 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. 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's portfolio includes the following: Operating Assets: 11MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation; Under Construction: a 3MW CHP project and a 450kWp rooftop solar project that are both under construction and expected to be operational later this year; and 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. Going forward, 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 assets. Non-IFRS Measures This press release refers to certain non-IFRS measures including Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"). Non-IFRS measures and industry metrics do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. The term EBITDA consists of net loss or gain and excludes interest, taxes, depreciation and amortization. The most directly comparable measure to EBITDA calculated in accordance with IFRS is net gain or net loss . The term EBITDA margin consists of the percentage of net loss or gain and excludes interest, taxes, depreciation and amortization. These measures, have limitations, and are provided in addition to, and not as an alternative for, and should be read in conjunction with, the information contained in our financial statements prepared in accordance with GAAP (including the notes), included in our filings on SEDAR+ at sedarplus.ca and posted on our website. Financial Projections 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 the estimates and assumptions considered reasonable by management. However, projections are no more than estimates of possible events and should not be relied upon to predict the results that the Company may attain. Future oriented financial information in this press release includes statements with respect to forecasted revenues and EBITDA that are expected to be generated by the Project. There is a risk that the assumptions related to these revenue and EBITDA forecasts may not be met and that the Project will not meet the conditions to start construction. The projections are based upon several estimates and assumptions and have not been examined, reviewed or compiled by independent accountants or other third-party experts, including assumptions with respect to the anticipated expenses and future revenues from the Project. These assumptions may vary from the actual results. Accordingly, there is no assurance that future events will correspond to management's assumptions for the Project. Any variations of actual results from projections related to the Project may be material and adverse. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the reasonable assumptions of the Company and management as at the date hereof. Our actual financial position and results of operations and the Project may differ materially from management's current expectations and, as a result, our revenue, profitability, EBITDA may differ materially from any revenue, and profitability profiles provided in this press release. Such information is presented for illustrative purposes only and may not be an indication of our actual financial position or results of operations. Revolve does not provide reconciliations for forward-looking non-GAAP financial measures as Revolve is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or number of various events that have not yet occurred, are out of Revolve's control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking GAAP financial measure. For these same reasons, Revolve is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures may vary 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 proposed acquisition of the Project. 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. Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; risks related to the development and potential development of the Company's projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR+ at 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. "Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.DALLAS and VANCOUVER, British Columbia and ROME, Dec. 13, 2024 (GLOBE NEWSWIRE) -- AleAnna, Inc. (together with its subsidiaries, “AleAnna” or the “Company”), an emerging leader in Italy’s energy landscape, announced the completion of the previously announced business combination (the “Business Combination”) between Swiftmerge Acquisition Corp. (NASDAQ: IVCP) (“Swiftmerge”), a special purpose acquisition company, and AleAnna Energy, LLC (“AleAnna Energy”). Concurrent with the completion of the Business Combination, Swiftmerge has changed its name to AleAnna, Inc. Commencing at the open of trading on December 16, 2024, the Class A shares of common stock and warrants of AleAnna are expected to begin trading on the NASDAQ Capital Market under the ticker symbols “ANNA” and “ANNAW”, respectively. The transaction was unanimously approved by the Board of Directors of Swiftmerge and was approved at an extraordinary general meeting (the “Shareholders Meeting”) of Swiftmerge’s shareholders on December 12, 2024. Former equity holders of AleAnna Energy rolled 100% of their equity interests into the combined company. Prior to the execution of the Agreement and Plan of Merger, dated June 6, 2024, AleAnna Energy's equity holders contributed over $60 million in cash, bringing the company's total cumulative investment to nearly $175 million. This infusion of capital enabled the completion of the Longanesi Field tie-in and the acquisition of initial renewable natural gas (“RNG”) assets, both finalized in Q3 2024. Additionally, the investment covered expenses related to the business combination and provided funding for general corporate liquidity. As of the transaction close, AleAnna had approximately $28 million in cash and cash equivalents on its balance sheet and no debt. This disciplined approach to financial management has empowered AleAnna to allocate significant capital to innovative exploration and development projects while preserving financial flexibility. Long History In Developing Resources in Italy AleAnna has a distinguished history in Italy, having been a leader in energy exploration and development for over a decade. Since its founding in 2007, the company has been dedicated to unlocking the significant potential of Italy’s natural gas reserves through the application of cutting-edge seismic imaging and environmentally responsible practices. AleAnna holds one of the largest portfolios of exploration permits and production concessions in Italy, spanning over 2.3 million acres. By combining advanced technology with a deep respect for Italy’s cultural and environmental heritage, AleAnna is expected to play a pivotal role in bolstering the nation’s energy independence and economic growth, earning its reputation as a trusted partner in Italy’s energy future. Positioning itself as a leader in both onshore conventional natural gas and renewable natural gas (RNG) production, AleAnna is at the forefront of building a secure and reliable domestic energy supply for Italy and the broader European market. The company stands on the cusp of a major milestone, with the first phase of natural gas production from the Longanesi Field projected to commence in Q1 2025. Alongside this, additional gas discoveries at Gradizza and Trava, 13 development prospects in various permitting stages, and leases covering approximately 2.3 million net acres underscore AleAnna’s commitment to future exploration and development. AleAnna is also helping drive the European Union's clean energy transition through its innovative approach to RNG. Leveraging the strategic overlap between its conventional and renewable assets in the Po Valley, AleAnna is transforming agricultural waste into renewable energy. With three RNG facilities operational and over 100 additional opportunities identified, AleAnna is poised for significant expansion in this sector. Guided by a commitment to corporate responsibility and a vision for a sustainable future, AleAnna integrates conventional and renewable energy solutions to reduce Europe’s carbon footprint and advance its clean energy objectives. By delivering innovative energy solutions, AleAnna continues to shape Italy’s energy landscape and support the EU’s transition toward a greener future. Experienced Management And Board Of Directors The combined company will be led by William Dirks as Executive Director and Marco Brun as Chief Executive Officer, supported by a seasoned and highly skilled executive team. AleAnna’s leadership team brings extensive expertise gained from top-tier energy companies, including Shell, Eni, and Exxon. This seasoned group combines in-depth knowledge of energy technology, operations, and business development with well-established regulatory and industry networks in Italy. Their collective experience equips AleAnna to effectively navigate the dynamic and rapidly evolving energy landscape. The Board of Directors, which will include Graham van’t Hoff, William Dirks, Marco Brun, Duncan Palmer, and Curtis Hébert, collectively brings a wealth of experience spanning global energy markets, technical and operational expertise, European energy development, financial management, governance, and regulatory policy. This diverse set of skills and perspectives ensures comprehensive strategic oversight and positions AleAnna for sustained growth and success. With over 15 years of investment and operational experience in Italy, AleAnna has a competitive advantage in securing critical permits and approvals, positioning it ahead of its peers. The company’s approach integrates cutting-edge technologies and industry-leading practices with strategic capital allocation to maximize the value of its conventional and renewable natural gas (RNG) assets. AleAnna is dedicated to sustainable, low-cost growth while maintaining strict capital discipline. By prioritizing innovation, efficiency, and long-term shareholder value, AleAnna is well-positioned to lead the next phase of Italy’s energy transformation. Management Commentary Bill Dirks, Executive Director of AleAnna, commented, “Our investment in state-of-the-art subsurface technology has been a game-changer for AleAnna. By leveraging advanced seismic imaging and cutting-edge data analysis, we have achieved unparalleled accuracy in identifying and developing Italy’s natural gas resources. This technology not only enhances our operational efficiency but also ensures that our exploration and development activities are conducted in an environmentally responsible manner, aligning with our commitment to sustainability and innovation in the energy sector.” Marco Brun, AleAnna’s Chief Executive Officer, added, “We stand at a pivotal moment in AleAnna's journey. As we gear up for production at Longanesi and scale our renewable natural gas (RNG) operations, we are proud to be at the forefront of driving a sustainable energy future. This strategy not only delivers value to AleAnna shareholders but also plays a key role in reshaping the energy landscape for generations to come.” About AleAnna, Inc. AleAnna is an innovative energy company dedicated to unlocking Italy's extensive natural gas reserves and advancing renewable energy solutions to address the country's energy needs and support Europe's sustainability and energy security goals. With a vast portfolio encompassing over 2.3 million acres of potential resources and state-of-the-art technologies, AleAnna is poised to lead Italy's energy transition. Guided by a commitment to environmental responsibility and operational excellence, AleAnna is shaping a sustainable and secure energy future. The company operates regional headquarters in Dallas, TX, and Rome, Italy, serving as strategic hubs for its global and local initiatives. Forward-Looking Statements The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein, regarding the Business Combination, the anticipated benefits of the Business Combination, AleAnna’s future financial performance following the Business Combination, as well as AleAnna’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on AleAnna management’s current expectations and assumptions about future events. They are based on current information about the outcome and timing of future events. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. AleAnna cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of AleAnna. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the ability to recognize the anticipated benefits of the Business Combination and any transactions contemplated thereby, which may be affected by, among other things, competition, the ability of AleAnna to grow and manage growth profitably and retain its management and key employees; AleAnna’s need for additional capital to execute its business plan and support its anticipated growth; costs related to the Business Combination; the risks associated with the growth of AleAnna’s business and the timing of expected business milestones; AleAnna’s ability to identify, develop and operate new projects; the reduction or elimination of government economic incentives to the natural gas market; delays in acquisition, financing, construction and development of new projects; decline in public acceptance and support of renewable energy development and projects; the ability to obtain necessary regulatory and governmental permits and approvals; uncertainty regarding the EU’s clean energy transition, including existing regulations and changes to regulations and policies that affect AleAnna’s operations; the ability to maintain the listing of AleAnna’s securities on a national securities exchange; and the effects of competition on AleAnna’s future business. These forward-looking statements involve significant risks and uncertainties, and should one or more of the risks or uncertainties described herein and in any statements made in connection in addition to these occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. There may be additional risks that AleAnna does not know or that AleAnna currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, including the definitive proxy statement/prospectus filed by Swiftmerge and AleAnna Energy with the SEC on November 21, 2024, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov . Investor Relations Contact For AleAnna, Inc.: Bill Dirks wkdirks@aleannagroup.com
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BOSTON — The Celtics will be shorthanded as they take on the Pacers, looking to snap their first losing streak of the season. Kristaps Porzingis and Jrue Holiday were both downgraded to out on the injury report for the 7:30 p.m. Friday game at TD Garden. Porzingis hurt his left ankle early in the loss to the 76ers on Christmas Day . He played through the ankle issue, but he didn’t come out of the locker room for the second half before being downgraded to out. Holiday will miss his second straight game with right shoulder impingement. The Celtics are looking to bounce back after hitting their first losing streak of the season, dropping their last two games. They’ve battled inconsistency, as C’s coach Joe Mazzulla put it , losing three of their last four games. The Pacers should be a test as they’ve been playing basketball of late, though they’re also shorthanded. The Pacers will be without rotation players like Andrew Nembhard, Aaron Nesmith and Obi Toppin for Friday’s game. Indiana got off to a hot start against the Thunder on Thursday before eventually losing that game. So the Pacers will also be on the second game of a back-to-back. Indiana has given Boston some trouble even in the East Finals, which ended up a Celtics sweep despite close games during that series. More Celtics content