NUE Power Corp. (CSE: NUE) has issued a corporate update from CEO Broderick Gunning, detailing the company's strategic priorities following roughly 11 months of leadership transition. The release outlines the build-out of a new executive team, an Alberta development portfolio totalling 512.25 MWac (gross), and an expanding focus on Saskatchewan and Manitoba. The update also discloses a debt settlement with the former CEO and a new investor awareness engagement, both of which investors may be watching closely.

Key Points

  • NUE Power Corp. (CSE: NUE; OTC: NUEPF; FSE: NUE1) is an energy infrastructure developer based in Calgary and Vancouver.
  • CEO Broderick Gunning outlined strategic priorities including offtake agreements for Alberta solar and storage projects and Prairie province expansion.
  • The Alberta development portfolio totals 512.25 MWac (gross) / 253.94 MWac (net) across one operating asset and three development-stage projects.
  • Investors should watch for definitive agreements with Green Harbor Partners Corp. and progress on the proposed 145 MWac Hays project acquisition.

NUE Power's New Leadership Team and Executive Appointments

The release states that John Windsor joined as Chief Operating Officer in August, bringing over 20 years of senior operating experience at Canadian power companies including Algonquin Power & Utilities, Northland Power, and Emera, with a managed portfolio of 3,200 MW across eleven power markets. In early September, Peter Espig joined the board, having previously held roles at Goldman Sachs Japan and Olympus Capital and structured more than C$2.0 billion in private equity and pre-IPO transactions. The CEO described these appointments as foundational to building NUE into an institutional-calibre company.

Alberta Solar and Storage Portfolio Progress and Offtake Focus

NUE's Alberta portfolio includes Lethbridge One (8.75 MWac gross), in commercial operation since December 2024; Lethbridge Two (12.5 MWac gross) at the interconnection stage; Lethbridge Three (155 MWac gross), which has received Alberta Utilities Commission approval; and the Hanna Prairie Solar project (336 MWac gross) in pre-development. Lethbridge Two, Three, and Hanna are subject to a non-binding letter of intent with Green Harbor Partners Corp. The company also announced a non-binding letter of intent on August 24, 2026 to acquire the 145 MWac Hays project near Taber, Alberta. The release emphasises that securing offtake agreements remains the team's top priority.

Shares-for-Debt Settlement with Former CEO Resolved

The release discloses a settlement and release agreement executed September 23, 2026 with Redhill Capital Corp., Blu Dot Systems Inc., and Devon Sandford, the company's former CEO. Under the agreement, $210,000 in accrued CEO fees will be settled by issuing 1,400,000 common shares at a deemed price of $0.15 per share. A final cash payment of $70,000 will also be made to Blu Dot, bringing total cash paid under a related side letter to $320,000. The settlement was approved by the board on September 28, 2026. Settlement shares are expected to be issued within 20 business days and will carry a four-month-and-one-day hold period.

Darkhan Energy Park and Prairie Province Expansion

Beyond Alberta, the release states NUE has committed more resources to Saskatchewan and has been investigating opportunities in Manitoba. Internationally, the company holds 100% equity in the proposed Darkhan Energy Park in Mongolia, comprising 600 MW of high-efficiency, low-emissions coal-fired generation and 100 MW of battery storage, announced via a joint development agreement on April 15, 2026. Environmental and feasibility work is underway. The company's annual general meeting is scheduled for November 19, 2026 at 10:00 a.m. Pacific Time in Vancouver.