Revolve Renewable Power Corp. provided an update on the progress of its 3.2MWh (megawatt per hour) Battery Energy Storage System project located in Cancun, Mexico. This is the first BESS project that the company signed on August 29, 2022, under its new division, Revolve Renewable Business Solutions.

Project Overview: The 3.2MWh battery storage system is being installed at the site of a major hotel chain in Cancun, Mexico; The company is the 100% the owner of the Project and has responsibility for the financing, installation and operation of the BESS system; A 10-year Energy Services Agreement (or "ESA") has been signed between the Company and the hotel operator for the provision of peak shaving and other energy related services; Under the ESA, the company will receive an annual fixed payment in addition to sharing the energy savings delivered by the Project over the 10-year contract period; An Engineering Procurement Contract (or "EPC") has been signed with Quartux Mexico S.A. de C.V. (or Quartux), a highly experienced installer and operator of battery storage systems in Mexico, to deliver a turnkey solution for the installation and commissioning of the BESS system; In addition to the EPC, a 10-year Maintenance Agreement has also been signed with Quartux for the day-to-day operation and optimization of the system including all routine maintenance; The Project is expected to cost approximately USD 1.8 million to install and commission including all related financing and transaction costs. Project Update: Quartux have provided the Company with an update on the installation works for the Project as follows: Site enabling works have been completed at the hotel including the installation of specialist metering equipment to facilitate the operation of the Project once fully commissioned; Manufacture of the BESS system has been substantially completed and shipment of the first BESS units has commenced. The initial units are expected to arrive on site in mid-February 2023 with the remaining scheduled for delivery in March 2023; Installation of the BESS system will commence before the end of Feb.

and is expected to be completed by the end of March 2023; and The Project is forecast to be fully operational and generating revenue for Revolve shortly thereafter under the 10 year ESA.