Convalt Energy Enters into Purchase and Sale Agreement with Gallup Land Partners for Advanced Manufacturing Campus in New Mexico and up to 1GW of Behind-the-Meter Power Generation

PRESS RELEASE

info@convalt.com I www.convalt.com
June 16, 2026

NEW YORK — Convalt Energy, Inc. ("Convalt") has entered into a binding Purchase and Sale Agreement ("PSA") with Gallup Land Partners ("GLP") for the planned development of an advanced manufacturing campus for the production of solar cells, solar modules, and solar glass with up to 1GW of behind-the-meter power generation. The agreement has been executed through a Convalt Energy subsidiary and will support the development and operation of the manufacturing campus in Gallup, New Mexico.

Hari "Harry" Achuthan, CEO of Convalt Energy, stated: "We are thrilled to announce this new partnership with Gallup Land Partners, further strengthening a relationship that leverages GLP's deep roots within the Gallup community. We are also pleased to welcome GLP as a shareholder in Convalt."

Robert Roche, founder of Gallup Land Partners stated, “For decades, we have believed in the tremendous potential of Gallup and northwestern New Mexico. This partnership represents a transformational investment in the community and a chance to create meaningful careers for generations of New Mexicans. We are proud to work alongside Convalt to help build a stronger and more diversified economic future for Gallup and the region."

Jake Bracken, CEO of Gallup Land Partners added, “This project is the culmination of more than a decade of planning, relationship-building, and belief in the potential of this community. It's exciting to watch a vision we've worked toward for years finally take shape. We look forward to the lasting impact this investment can have on Gallup and the surrounding region."

The project is expected to create approximately 900 permanent, well-paying jobs and more than 1,000 construction jobs over a construction period anticipated to extend through 2028. Total investment associated with the project is expected to reach up to $5 billion across all phases of development.

Project advancement remains subject to the completion of customary development milestones, including obtaining all necessary planning commission, city, county, state, and other regulatory approvals and permits. Through this development, Convalt is further reinforcing its commitment to New Mexico as the U.S. headquarters for its manufacturing operations and as a cornerstone of its long-term growth strategy.

Convalt and its team, including former professionals from Switzerland-based Meyer Burger, are focused on deploying high-performance heterojunction technology for the production of advanced solar cells and modules.

This press release document contains statements about future events, expectations, and projections that are “forward-looking” within the meaning of applicable securities laws. These statements may include, but are not limited to, anticipated financial performance, market trends, strategic initiatives, and operational plans.

Forward-looking statements are based on current assumptions and estimates, which are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these statements. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

About Convalt Energy:

Convalt Energy, Inc. is an integrated renewable energy and advanced manufacturing company dedicated to rebuilding America's clean energy foundation. A portfolio company of ACO Investment Group, Convalt is developing domestic solar manufacturing capacity alongside utility-scale power generation, data center infrastructure, and solar recycling facilities across the United States.

Founded in 2011, Convalt established its track record through the development of renewable energy projects across Southeast Asia and Africa before expanding its focus to the U.S. market. Today, the company is committed to strengthening the domestic solar supply chain, creating high-quality American jobs—including opportunities for veterans and members of the military community—and delivering reliable, sustainable energy solutions that support long-term economic growth and energy security. For more information, please visit www.convaltenergy.com.