Revolve Secures Initial $10 Million in Strategic Financing with Callaway

Revolve Renewable Power Corp. has announced the completion of an initial $10 million advance as part of a strategic financing agreement with Callaway Capital Management, LLC. This funding is part of a secured convertible credit agreement offering up to $40 million in total. The initial advance is the first tranche of $20 million, with an additional $10 million available under the same terms.

The financing is aimed at providing Revolve with long-term capital to advance its renewable energy projects and support acquisitions. CEO Myke Clark noted that this would bolster the company's balance sheet and development timelines.

Under the agreement, Callaway has secured rights to nominate up to four directors to Revolve's board, enhancing infrastructure investment expertise. This follows a pledge agreement securing shares in Revolve's subsidiaries as collateral.