Feb, 04 2022 GreenVolt Energias Renov veis Group and Oak Creek Energy Systems, Inc., have completed a commercial agreement

PRESS RELEASE

By GreenVolt and Oak Creek Energy

Released on January 10, 2022

GreenVolt Energias Renov veis Group and Oak Creek Energy Systems, Inc., have
completed a commercial agreement including the purchase of certain OCES projects
and resources by GreenVolt through V-Ridium.

This acquisition will allow GreenVolt to grow in the US renewable energy market, and to
do so with an experienced team with a strong track record in developing renewable
energy projects.

The agreement has been accomplished through the creation of V-ridium Oak Creek
Renewables, LLC (“VOCR”). The OCES team has been transferred to the new company,
including its former CEO, and have a partnership participation. VOCR will continue to
provide certain development and corporate services to OCES.

The VOCR platform will facilitate the strategic goal of GreenVolt, to expand into the
North American renewable development market and alongside the development of the
acquired wind and solar pipeline in Mexico.

The new company will seek to develop, construct, and operate renewable project
opportunities initially in the United States, either on a stand-alone basis or in joint
ventures with other successful developers, landowners, industry experts, etc.
The company team will operate still out of its current primary offices in Escondido, USA,
and Cd. Victoria, Mexico, under the continued leadership of Niels Rydder, the former
CEO of OCES and now CEO of VOCR.

John Bottomley, Chief Development Officer of V-ridium Power Group & board member
of VOCR, noted “we see an enormous opportunity in the North American renewables
market and determined that partnering with a proven management and development
team was our best form of entry. I’ve known Niels & his team for years, have partnered
with them in the past, and am excited about this new chapter”.

About GreenVolt:

Greenvolt – Energias Renov veis, SA (“Greenvolt”), operates in the renewable energy
sector, being the leader in Portugal in the sector of electricity production from biomass
forestry. With an accumulated experience in this segment of about 20 years, Greenvolt
has extensive and proven technical skills in the design, engineering, operation, and
maintenance of biomass power stations.

Regarding the renewable energy segment based on wind and solar resources,
GreenVolt, will position itself upstream of the value chain, in the project development
segment, where profitability is higher and capital needs are lower. Geographically,
GreenVolt has a North American and pan-European ambition, with a focus on countries
where there are more ambitious renewable energy targets, where remuneration schemes
and the institutional environment is more stable and where the entire process of
developing wind energy projects and solar is more challenging, such as USA, Canada,
Mexico, Poland, Greece, Italy, and France. In this sense, GreenVolt acquired V-Ridium
Power Group, one of the largest European promoters of projects of this type, a platform
through which it will implement its strategy in this segment. Through V-Ridium Power
Group, GreenVolt is developing several pan-European wind and solar projects, mainly
in Poland and Greece, consisting of around 2,800 MW, of which more than 1,500 MW
are in an advanced stage of development.

About OCES:

Oak Creek Energy Systems, Inc. began clean energy initiatives more than three decades
ago, long before renewable energy was a catchphrase. Led by industry pioneers, the
The company was launched in 1982 – and was initially based in Tehachapi and Mojave,
California. Over the last 40 years, Oak Creek Energy Systems has been recognized for:

• Pioneering Work in the Wind Industry space
• Contributing to the Evolution of Wind Energy Technology
• Integrating Wind Turbines into Local Environments
Its end-to-end energy development services and long-standing expertise ensure that the
OCES team remain wind industry leaders ready for the ever-changing renewable
business.

For more information, please contact:
John Bottomley on behalf of V-Ridium
Mail: [email protected]
Tel: +33 7 60 87 22 06
Sheldon Greene on behalf of Oak Creek Energy Systems:
Mail: [email protected]
Tel: +1 (510) 325-0233
Niels Rydder on behalf of V-ridium Oak Creek Renewables:
Mail: [email protected]
Tel: +1 (760) 975-0910
Relevant web sites of GV and OCES:

• www.www.oces.com
• www.greenvolt.pt
• www.v-ridium.com
• www.v-ocr.com