NU E Power Corp. Files 2026 Second Quarter Results
NU E Power Corp. (CSE: NUE; OTC: NUEPF) filed its unaudited Q2 2026 results for the period ended June 30, 2026 and reported no revenue and a net loss of $1,413,536, versus a $331,460 loss a year earlier.
Rhea-AI Summary
NU E Power Corp. (CSE: NUE; OTC: NUEPF) filed its unaudited Q2 2026 results for the period ended June 30, 2026 and reported no revenue and a net loss of $1,413,536, versus a $331,460 loss a year earlier. Operating expenses were $1,407,320 compared with $310,131 in Q2 2025. The company reported cash of $13,602 and a working capital deficiency of $2,210,208 at quarter end.
Subsequent to quarter end, NU E Power closed a non-brokered private placement of 25,733,686 units at $0.15 for gross proceeds of $3,860,053, to fund project advancement, new opportunities and working capital. It cured prior continuous disclosure defaults, leading to revocation of an Alberta Securities Commission management cease trade order and removal from the reporting issuer default list.
The Alberta portfolio now totals 503.5 MWac gross (251.75 MWac net), with projects submitted into the AESO Cluster 3 process. The company also signed a non-binding LOI for a proposed up to 17 MW offtake at Lethbridge 2, entered a joint development agreement for the Darkhan Energy Park in Mongolia, and restated total power capacity disclosure to 1,112.25 MW gross and 613.94 MW net on a net working interest basis.
Positive
- Private placement raised $3.86M gross via 25.73M units at $0.15 after Q2
- Management cease trade order revoked after curing 2025 and Q1 2026 disclosure defaults
- Alberta portfolio submitted 503.5 MWac gross / 251.75 MWac net into AESO Cluster 3
- LOI for proposed offtake up to 17 MW signed for Lethbridge 2 (non-binding, conditional)
- Joint development agreement signed on April 15, 2026 for Darkhan Energy Park in Mongolia
- Total portfolio restated to 1,112.25 MW gross and 613.94 MW net on working interest basis
Negative
- Revenue remained $0 in Q2 2026, unchanged from the prior-year period
- Net loss widened to $1,413,536 in Q2 2026 from $331,460 a year earlier
- Operating expenses increased to $1,407,320 from $310,131 in Q2 2025
- Working capital deficiency was $2,210,208 at June 30, 2026, up from $1.19M at March 31, 2026
- Quarter-end cash was $13,602 before the subsequent $3.86M private placement closing
News Market Reaction – NUEPF
In the Aug 31 session, NUEPF declined 3.30%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Calgary, Alberta--(Newsfile Corp. - August 31, 2026) - NU E Power Corp. (CSE: NUE) ("NUE" or the "Company") announces that it has filed its unaudited interim condensed consolidated financial statements and management's discussion and analysis ("MD&A") for the second quarter of 2026 on August 28, 2026. The interim filings are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.nu-energy.ca.
Subsequent to the quarter, the Company closed a non-brokered private placement, as previously announced, for aggregate gross proceeds of
Corporate and Financing Highlights
Closed, subsequent to the quarter and as previously announced, a non-brokered private placement for aggregate gross proceeds of
$3,860,053 , upsized from the$3.0 million originally announced on June 23, 2026Cured the Company's continuous disclosure defaults by filing its 2025 annual financial statements and MD&A on June 2, 2026 and its Q1 2026 interim filings on June 12, 2026, resulting in the Alberta Securities Commission's revocation of the management cease trade order on June 19, 2026
Continued advancement of the Alberta development portfolio, the Darkhan feasibility and permitting program, and evaluation of additional growth opportunities
Q2 2026 Financial Results
Revenue of $nil for the quarter, compared to $nil in the prior-year period
Net loss of
$1,413,536 for the quarter, compared to$331,460 in the prior-year periodTotal operating expenses of
$1,407,320 for the quarter, compared to$310,131 in the prior-year periodCash position of
$13,602 as at June 30, 2026; subsequent to the quarter, the Company strengthened its cash position through the private placement described aboveWorking capital deficiency of
$2,210,208 as at June 30, 2026, compared to a working capital deficiency of$1.19 million as at March 31, 2026
Q2 Results in Context
Subsequent to quarter end, the Company closed the private placement announced on June 23, 2026 in two tranches, on July 8, 2026 and August 12, 2026, issuing an aggregate 25,733,686 units at
The Company filed its 2025 annual filings on June 2, 2026 and its 2026 first quarter interim filings on June 12, 2026, curing both continuous disclosure defaults. The Alberta Securities Commission revoked the management cease trade order on June 19, 2026 and the Company was removed from the reporting issuer default list.
In Alberta, the Company completed Phase 1 due diligence at Lethbridge together with associated financial and technical modelling, and extended site control at Hanna, supporting an Alberta portfolio of 503.5 MWac gross and 251.75 MWac net. Applications for these projects were submitted into the AESO Cluster 3 process in August 2026.
On May 27, 2026, the Company signed a letter of intent with Digital Asset Solutions contemplating a power purchase and infrastructure partnership of up to 17 MW at Lethbridge 2, representing the Company's first proposed offtake arrangement. The letter of intent is non-binding, and remains subject to a number of conditions including the consent of the Company's joint venture partner.
In Mongolia, the Company entered into a joint development agreement on April 15, 2026 to advance the Darkhan Energy Park and commenced its environmental and feasibility program.
On May 7, 2026, the Company restated its power capacity disclosure on a net working interest basis, reporting a portfolio of 1,112.25 MW gross and 613.94 MW net across its Alberta and Mongolia projects, and cautioned investors not to place undue reliance on previously disclosed aggregate gross capacity figures.
Management Commentary
"During the second quarter we brought the Company's filings fully current, placed our capacity disclosure on a consistent net working interest basis, and continued to advance the Alberta portfolio toward interconnection," said Broderick Gunning, Chief Executive Officer. "Much of the quarter was necessarily administrative, and our second quarter costs largely reflect that work. It is now complete, the Company has been removed from the reporting issuer default list, and the financing announced in June closed after quarter end for gross proceeds of
"With that foundation in place, we have moved from remediation to development. Since quarter end we have signed letters of intent to acquire the Hays solar and storage project in Alberta and land in the Regina area, and made targeted additions to the management team, including the appointment of a Chief Operating Officer, so that the Company is resourced for its next phase of growth. Our focus is on converting those letters of intent into definitive agreements and advancing the portfolio to serve growing industrial and compute-intensive power demand."
- Broderick Gunning, Chief Executive Officer, NU E Power Corp.
Additional Information
Investors are encouraged to review the unaudited interim financial statements and MD&A for Q2 2026 in full. These documents are available under the Company's profile at www.sedarplus.ca and on the Company's website at www.nu-energy.ca.
About NU E Power Corp.
NU E Power Corp. is an energy infrastructure company focused on the origination, development, and advancement of integrated power and energy park opportunities. The Company emphasizes strategic site positioning, grid access, and disciplined stage-gated project development across selected markets serving compute-intensive and large-load industrial demand.
Contact Information
For more information, please contact:
| Broderick Gunning, Chief Executive Officer E-mail: brodie@nu-energy.ca | John Meekison, Chief Financial Officer E-mail: john@nu-energy.ca |
Forward-Looking Information
Certain information set forth in this press release contains forward-looking statements that involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as "may", "will", "would", "expect", "intend", "plan", "believe", "target", "subject to", "focus", "continued", "anticipated", "required", "advance", "evaluate", "position", "reflect", "resourced", or the negative or other variations of these words, or similar words or phrases, are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to: the statements attributed to the Chief Executive Officer, including that the Company's remediation activities are complete, that the Company has moved from remediation to development, and that the Company is resourced for its next phase of growth; the sufficiency of the Company's working capital and its requirement for additional financing; the expected effect of the private placement on the Company's cash position; use of proceeds; the outcome of applications submitted into the AESO Cluster 3 process, including the receipt and timing of interconnection offers; the negotiation and completion of definitive agreements, including in respect of the Lethbridge 2 letter of intent, the letter of intent to acquire the Hays project and the letter of intent to acquire land in the Regina area; management priorities and capital planning; feasibility and permitting work, including at the Darkhan Energy Park; advancement of the development portfolio and project opportunities; evaluation of additional growth opportunities; and positioning to serve compute-intensive and large-load industrial demand. Such statements are not guarantees of future performance. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on opinions, assumptions and estimates of management considered reasonable at the date the statements are made.
The forward-looking statements are based on a number of material assumptions, including: the availability of additional financing on acceptable terms and in the amounts required to fund operations and project development; the Company's ability to manage its working capital position; utility confirmation of capacity and upgrade approvals; the AESO Cluster 3 process proceeding on anticipated timelines and the Company's applications advancing within it; counterparties proceeding to definitive documentation under the Lethbridge 2, Hays and Regina area letters of intent; the receipt of required counterparty, joint venture partner and regulatory consents and approvals; the retention of key management personnel; successful completion of feasibility studies; ability to advance projects through stage-gated development; continued availability of grid access and suitable sites; continued demand from compute-intensive and large-load power users; and permitting, interconnection and construction proceeding as planned.
The Company is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. Such factors include, among other things: the Company had cash of
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