Revolve Expands EDC Partnership for Financial Stability

Revolve Renewable Power Corp., a North American renewable energy developer, has announced an expansion of its Account Performance Security Guarantee (APSG) facility with Export Development Canada (EDC). The facility has increased from USD 2.9 million to USD 4.5 million, supporting a financial security letter of credit for Revolve's Vernal Battery Energy Storage System in the U.S.

The expansion enables Revolve to issue letters of credit without requiring cash collateral, thereby improving access to cash and working capital. This development supports Revolve's ongoing efforts to enhance its financial structure and accelerate project development. CEO Myke Clark emphasized the importance of this step in supporting growth in the renewable energy sector.

Previously, Revolve completed the interconnection process for the Vernal Battery Storage Project and signed an agreement with PacifiCorp, aiming to prepare for construction readiness by late 2025.