Connect with us

Technology

Westbridge Renewable reports Strong Financial Results for 2024 and Strategic Update on its Project Pipeline

Published

on

CALGARY, AB, May 12, 2025 /CNW/ – Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) (“Westbridge”, “Westbridge Renewable” or the “Company”), a leading renewable energy development company, is pleased to announce strong financial results for the fiscal year ended November 30, 2024, and to provide a strategic update regarding its project pipeline.

2024 Full Year Financial Highlights

Westbridge closed fiscal year 2024 in a robust financial position, underlining the success of its capital allocation and project monetization strategy:

$99 million in gross cash proceeds from project sales, resulting in $60m profit before tax and after all costs and interest$35 million in debt repaid bringing the long-term debt to zero$10 million returned to shareholders via a return of capital$37 million in cash and cash equivalents to drive future growth (as of the date of this release)

These results reflect the monetization of key Canadian assets, including the sale of the Georgetown Solar (Dec 13th, 2023) and Sunnynook Solar (Nov 5th, 2024) projects.

Update on the Alberta Projects

Following the successful closings of the Georgetown and Sunnynook transactions, the previously announced definitive agreements with Metlen Energy & Metals (“Metlen”, June 1st, 2023) for the acquisition of the remaining Alberta-based projects expired on April 30th and the Company has returned the deposits to Metlen.  

Given the changing regulatory landscape and Westbridge’s strengthened financial position, the Company is pleased to retain full ownership of the Dolcy, Eastervale and Red Willow projects which represent a combined 1.8 GW of Solar and BESS in a core strategic market. The Company is now actively exploring:

Retaining and advancing selected Alberta projects toward construction and operation,Engaging with new strategic partners to potentially co-invest in equity and project development.

This strategic pivot aligns with Westbridge’s long-term objective of becoming a vertically integrated renewable energy company and enhances its ability to capture greater value across the development lifecycle.

“Our strong cash position and pipeline of high-quality projects allow us the flexibility to accelerate our strategy and maximize long-term value,” said Scott Kelly, Chairman of Westbridge. “By maintaining optionality on our Alberta portfolio, we’re positioning Westbridge to play a larger role in the energy transition.”

As part of the transactions with Metlen, and subject to the achievement of certain post-closing milestones and conditions, Westbridge may receive additional cash proceeds up to $50m from the previously sold Georgetown and Sunnynook projects.

Westbridge is actively advancing the three late-stage renewable energy projects in Alberta, Canada Red Willow, Eastervale and Dolcy. Combined, these projects represent a significant addition to Canada’s renewable infrastructure, focusing on large-scale solar photovoltaic (PV) and battery energy storage system (BESS) installations.

Project Dolcy received AUC approval and is now in the closing stages of development. Project Eastervale did not receive AUC approval; however, the Company is planning to resubmit in 2025 with a new and improved layout that addresses the AUC concerns. Similarly, project Red Willow design is being updated to better reflect the feedback received from the AUC in the recent proceedings.

Westbridge Expands Portfolio into Ontario

Westbridge Renewable Energy is pleased to announce the expansion of its development portfolio into a new strategic market, Ontario. This milestone reflects the Company’s ongoing commitment to delivering sustainable, utility-scale solar and battery energy storage system (BESS) projects that contribute to Canada’s transition toward a low-carbon economy.

Ontario will represent an important growth market for Westbridge,” said Stefano Romanin, CEO of Westbridge. “By leveraging our proven track record in project development and monetization, along with the strength of our experienced team.  We aim to quickly become a leading developer of greenfield solar PV and BESS projects in the province.”

The Company has already secured three solar projects in Ontario (the “Ontario Projects”), each with site control in place, completed environmental permitting feasibility studies, and interconnection applications currently underway. Collectively, these projects will add approximately 500 MWdc of solar capacity to Westbridge’s growing international development portfolio.

This expansion reinforces Westbridge’s position as a key player in North America’s renewable energy sector, advancing the clean energy transition through strategic growth and innovation.

Looking Ahead

With a diversified growing development portfolio approaching 10GW across four jurisdictions, Westbridge remains focused on:

Advancing utility-scale solar and battery storage projectsSecuring power plant and interconnection approvals in Alberta and OntarioGrowing its international pipeline in the U.S., UK, and Italy

Westbridge continues to execute its proven development model while actively evaluating opportunities for long-term ownership and operation of select assets, enhancing shareholder value through both capital appreciation and strategic capital return.

About Westbridge Renewable Energy

Westbridge Renewable Energy Corp. originates, develops, and monetizes best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in four key jurisdictions, Canada, the U.S., the U.K., and Italy. Westbridge plans to deliver attractive, long-term returns by originating, executing, and developing an international portfolio of renewable assets for investors and utilities. Management has a strong track-record with 40+ projects developed worldwide, obtaining, and executing projects. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its investors with valuable access to greenfield solar projects. This means the Company can invest at the earliest stage of solar energy development benefiting from the full value chain, as well as the expected wider adoption of renewable energy going forward. Westbridge brings together regulators, corporate buyers, and landowners with the goal of delivering clean, sustainable electricity to end users.

For more information, please visit:  www.westbridge.energy | Twitter | LinkedIn

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this document contains forward-looking information and statements including, without limitation, expected permitting, approvals, anticipated satisfaction of the conditions to satisfy post-closing payments for the Georgetown and Sunnynook projects and the timing thereof,  management’s business strategy, management’s assessment of future plans and operations. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future, including development of the project pipeline or receipt of post-closing Georgetown and Sunnynook transactions. Forward-looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “potential” or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include risks and uncertainties relating to Company’s ability to complete licensing requirements, general business, economic, competitive, regulatory, policy and social uncertainties, and availability of permits and financing upon terms acceptable to the Company or at all. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to general business, economic, political and social uncertainties, changes in laws, market risks, operating history, competition, and the other risks identified under the headings “Risk Factors” in the Company’s annual information form dated August 14, 2024 and other disclosure documents available on the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/westbridge-renewable-reports-strong-financial-results-for-2024-and-strategic-update-on-its-project-pipeline-302452954.html

SOURCE Westbridge Renewable Energy Corp.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

REPT BATTERO Deepens Inter Milan Partnership, Brings Latest Innovations to Intersolar Europe 2026

Published

on

By

MUNICH, June 20, 2026 /PRNewswire/ — As global audiences follow the world’s biggest football tournament this summer, another international stage is preparing to bring together innovators, businesses and industry leaders from across the energy sector.

From June 23 to 25, REPT BATTERO will participate in Intersolar Europe 2026 in Munich, Germany, showcasing its latest developments in energy storage, sustainability and global business expansion.

Adding to the excitement, an Inter Milan legend will make a special appearance at the REPT BATTERO booth, meeting customers, partners and visitors from around the world. The appearance follows the company’s recent partnership with Inter Milan, which named REPT BATTERO as the club’s Global Official Battery and Energy Storage Partner.

But beyond products, exhibitions and football, the story REPT BATTERO hopes to tell is about something larger: how a young Chinese battery company is evolving into a global energy brand.

Growth Comes First

For any company looking to expand globally, one question comes before all others: is the business ready?

For REPT BATTERO, the answer is increasingly being reflected in its performance.

According to its 2025 annual results, the company reported revenue of approximately €3.1 billion, up 36.7% year on year, while net profit reached approximately €87 million, marking the company’s first full year of profitability. Annual battery shipments totaled 82.7GWh, representing year-on-year growth of 89.2%.

Energy storage continued to be a key growth driver, generating approximately €1.7 billion in revenue in 2025, an increase of 86.8% compared with the previous year.

The momentum has continued into 2026. In the first quarter, REPT BATTERO ranked No.1 globally in both residential energy storage cell shipments and commercial & industrial energy storage cell shipments, while ranking among the world’s top five in energy storage cell shipments overall. The company has also maintained BloombergNEF Tier 1 Energy Storage Supplier status for eleven consecutive quarters.

These achievements are not simply the result of rapid growth. They reflect years of investment in product development, manufacturing capability, customer relationships and operational excellence.

For REPT BATTERO, globalization is not a sudden ambition. It is the natural next stage of a business that has steadily built the foundations required to compete internationally.

Globalization Beyond Exporting Products

For many companies, globalization begins with exports.

But long-term success requires much more than shipping products overseas.

Customers increasingly evaluate suppliers not only on technology and price, but also on local service capabilities, supply chain resilience, regulatory readiness and long-term reliability. This is particularly true in Europe, where the energy transition continues to drive demand for trusted and sustainable partners.

Over the past several years, REPT BATTERO has been steadily strengthening its international footprint.

The company established its European subsidiary in Munich in 2023 and has since expanded its overseas presence across Germany, the United States, Indonesia, Australia and Japan. Today, REPT BATTERO’s business network spans six continents, supporting customers across a wide range of energy storage and mobility applications.

At the same time, the company is advancing construction of its first overseas manufacturing base in Indonesia, a major milestone in its global manufacturing strategy.

Europe remains one of REPT BATTERO’s most important markets. Earlier this year, during KEY – The Energy Transition Expo in Italy, the company signed energy storage supply agreements totaling 8.3GWh with seven European partners. REPT BATTERO has successfully delivered and deployed energy storage projects in Germany, Belgium, Slovakia, Romania, Bulgaria, Greece, Ukraine, Poland, Moldova and Latvia, further strengthening its presence in Europe.

Taken together, these developments demonstrate that REPT BATTERO’s global strategy extends far beyond exports. The company is building local presence, local partnerships and long-term capabilities designed to support customers worldwide.

Building a Global Brand

As technology, products and services enter global markets, another challenge emerges: building recognition and trust.

This is one of the reasons behind REPT BATTERO’s partnership with Inter Milan.

Announced in May 2026, the collaboration goes beyond traditional sponsorship. It includes brand campaigns, fan engagement initiatives, customer experiences and future activations across international markets.

For REPT BATTERO, the partnership represents a new approach to global brand building.

Historically, battery companies have communicated primarily through technical specifications, product performance and manufacturing capabilities. While these remain essential, global audiences increasingly connect with brands through stories, experiences and shared values.

Football provides a unique platform for that connection.

With one of the largest fan bases in world football, Inter Milan offers a global stage that transcends language, geography and culture. Through the partnership, REPT BATTERO aims to engage customers and communities in a more accessible, international and human-centered way.

The goal is not simply to increase visibility. It is to help a broader audience understand the innovation, ambition and long-term vision behind the company.

Youth Is About Agility, Not Image

Founded in 2017 and entering production just one year later, REPT BATTERO remains a relatively young company by industry standards.

Yet its development has been remarkably rapid.

The company became one of the fastest battery manufacturers in the industry to surpass RMB 10 billion in annual revenue. Since then, it has continued evolving—from rapid expansion to profitability, from domestic growth to international development, and from product exports to global brand building.

At REPT BATTERO, being young is not about image. It is about agility.

It means responding quickly to changing market conditions, adapting to customer needs and continuously improving across products, operations and organization.

Whether addressing growing demand for residential energy storage in Europe, preparing for emerging battery passport requirements, or navigating an industry increasingly focused on profitability and sustainable growth, REPT BATTERO has consistently demonstrated its ability to adapt and execute.

This combination of innovation, responsiveness and global ambition continues to shape the company’s identity as it enters its next stage of development.

See You in Munich

From SNEC in Shanghai to Intersolar Europe in Munich, the interaction between REPT BATTERO and INTER MILAN continues.

Yet the company’s story is about more than exhibitions or celebrity appearances. It is about the evolution of a young energy company building the capabilities, partnerships and brand needed to compete on a global stage.

This June, as the FIFA World Cup captures the attention of football fans around the world, REPT BATTERO will welcome an Inter Milan legend to its booth at Intersolar Europe in Munich.

When a player who once stood at the pinnacle of world football walks into the booth of a young Chinese energy company and exchanges handshakes and conversations with customers and partners from across the globe, the moment represents something larger than a partnership.

It reflects how far REPT BATTERO has come—and where it is heading next.

From a fast-growing battery manufacturer to an increasingly global energy brand, REPT BATTERO’s journey is still being written. And perhaps, that scene in Munich will be one of its most meaningful chapters yet.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/rept-battero-deepens-inter-milan-partnership-brings-latest-innovations-to-intersolar-europe-2026-302805755.html

Continue Reading

Technology

Felicitysolar Strengthens Brand Presence at SNEC 2026

Published

on

By

GUANGZHOU, China, June 20 2026 /PRNewswire/ — Felicitysolar presented its energy storage product portfolio, technical progress, third-party recognition, and global cooperation achievements at SNEC 2026, held in Shanghai from June 3 to June 5.

During the exhibition, Felicitysolar showcased solutions for residential, commercial, and industrial energy applications, including the 50kW C&I ESS, 125kW/257kWh system, 125kW/261kWh liquid-cooled all-in-one system, and FLB Series low-voltage residential battery pack. These products reflected the company’s continued focus on system reliability, flexible deployment, and practical energy storage needs across different scenarios.

Felicitysolar also held Chinese and English product presentations on June 3 and June 4, covering commercial and industrial energy storage systems, low-voltage residential battery packs, intelligent management platforms, and the company’s newly developed AI management platform. Through application-oriented explanations, the presentations helped customers better understand the role of Felicitysolar’s products in residential, commercial, and industrial energy management.

Third-party activities during the exhibition added further depth to Felicitysolar’s brand presentation. Intertek issued ETL certificates for Felicitysolar’s energy storage system and photovoltaic inverter products and granted the company Intertek “Satellite Program” laboratory qualification, supporting product access to the North American market and recognizing Felicitysolar’s in-house testing capability. DEKRA presented certificates related to Felicitysolar’s hybrid inverter and energy storage battery system products for European and international standards. SGS granted an Australian grid-connection certificate for Felicitysolar’s IVGM25KHP3G3 Series high-voltage hybrid inverter. EUPD Research recognition was also presented during the exhibition.

In addition, Felicitysolar received three Global Smart Energy Award honors: ENTERPRISE OF THE YEAR, FRONTIER TECHNOLOGY, and INNOVATIVE SOLUTION. These awards recognized Felicitysolar’s overall development, the FLB Series low-voltage LiFePO4 battery pack, and the 50kW high-voltage hybrid energy storage system, respectively. Together with the third-party activities, the awards highlighted Felicitysolar’s continued progress in product development, quality systems, market readiness, and solution capabilities.

The company also held partner signing ceremonies for Argentina and Chile, strengthening communication and cooperation with partners in Latin America. As energy storage demand grows across regional markets, localized cooperation remains an important part of Felicitysolar’s global development.

To extend the exhibition experience beyond the venue, Felicitysolar launched an online VR booth tour, allowing customers to explore the booth layout, featured products, and related materials after the event:
https://www.felicitysolar.com/snec-pv-power-expo-shanghai-vr-tour/

Through product showcases, technical presentations, third-party activities, award recognition, localized partnerships, and digital exhibition tools, Felicitysolar used SNEC 2026 to present its brand capabilities in solar energy storage. The company will continue to focus on practical energy needs across residential, commercial, and industrial applications while strengthening its products, services, and global cooperation capabilities.

About Felicitysolar

Founded in 2007 and headquartered in Guangzhou, China, Felicitysolar provides solar energy storage solutions for residential, commercial, and industrial applications. Its product portfolio covers solar inverters, lithium battery packs, integrated solar street lights, commercial and industrial energy storage systems, and related smart energy solutions.

CONTACT:
Felicitysolar Marketing Department
pr@felicitysolar.com
+86-18620102298

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/felicitysolar-strengthens-brand-presence-at-snec-2026-302805745.html

Continue Reading

Technology

Alcott HR Appoints Michael Pascucci as Director of Strategic Projects

Published

on

By

FARMINGDALE, N.Y., June 19, 2026 /PRNewswire/ — Alcott HR announces Michael Pascucci as Director of Strategic Projects. Michael brings over ten years of experience in HR operations and project management.

Before joining Alcott HR, he held senior roles leading technology upgrades and launching new employee benefits programs. This experience supports Alcott’s initiatives, helping the company grow while putting clients first.

 As Director, Michael drives operational excellence at Alcott HR by leading strategic projects. He maintains processes to ensure Alcott stays flexible and personalized during growth. Michael focuses on projects that further enhance client support.

Improving Data Accuracy:  Michael connects Alcott’s main systems with partners. Automating these connections streamlines onboarding and enrollment, ensuring benefits and payroll are accurate and secure. This gives clients confidence their information is in good hands.

Creating a Seamless Client Experience:  Michael is improving how Alcott manages projects and client renewals. With consistency in these processes, Alcott delivers a seamless, dependable experience, especially during year-end reporting and enrollment.

Building for Growth:  By replacing manual tasks with digital solutions, Michael helps Alcott grow with its clients. This allows the team to focus on building relationships and offering expert HR guidance to help clients achieve their goals.

“Michael doesn’t just manage projects, he builds systems that help our team excel,” said Kristen Bartolotta, Sr. Director of Operations at Alcott HR. “His ability to transform complex processes into streamlined solutions has improved our efficiency and enhanced our client service.”

“Working with the talented Alcott team has been a great experience,” said Michael Pascucci. “I’m excited to continue working across departments to improve our processes, boost efficiency, and help the company keep growing.”

Through these efforts, Michael helps Alcott deliver even greater value to clients by driving innovation, strengthening relationships, and ensuring every organization can reach its potential.

About Alcott HR: Alcott HR is an IRS Certified* and ESAC Accredited, Professional Employer Organization that provides a comprehensive range of human resources solutions to small and mid-sized businesses. With nearly four decades of experience, Alcott HR offers customized services that allow businesses to manage their workforce more effectively while staying compliant with state and federal regulations. Their services include payroll, benefits, risk management, and HR support, designed to help businesses grow and succeed.

The IRS does not endorse any particular certified professional employer organization.

Media Contact:
Sarah Zulawski
Marketing Specialist
szulawski@alcotthr.com 
(716) 241-8893 

View original content to download multimedia:https://www.prnewswire.com/news-releases/alcott-hr-appoints-michael-pascucci-as-director-of-strategic-projects-302805721.html

SOURCE Alcott HR

Continue Reading

Trending