Synex Renewable Energy Reports Q3 Revenue Drop, Net Loss Widening Amid Site Downtime

Synex Renewable Energy Corporation reported a 21% decline in Q3 2025 revenue to $733,743 compared to the previous year, mainly due to lower precipitation and significant downtime at the Mears Creek site, which reduced electricity sales. Despite this quarterly decline, the company noted a 6% year-over-year revenue increase, driven by other operational areas. However, Synex's net loss widened to $199,674 in Q3 2025 from $58,898 in Q3 2024, reflecting operational challenges affecting electricity generation. Since acquiring Sea Breeze Power Corp. in 2021, Synex invested $810,085 in developing wind licenses to support BC Hydro's Clean Power Call, aiming for at least 90% clean or renewable electricity generation. The company's unrestricted cash balance improved to $287,336 as of March 31, 2025, aided by customer collections and a short-term loan from a related party, while its total outstanding loan principal slightly decreased. Overall, Synex faces financial challenges including negative profitability and high leverage, despite positive revenue growth and ongoing investments in renewable energy projects.