Nexus Renewables Announces New Board Appointment and Leadership Transition

TORONTO, Jan. 30, 2026 /PRNewswire/ -- Nexus Renewables Inc. ("Nexus" or the "Company"), a full-service renewable energy developer and independent power producer that is part of the Apricus Generation platform, is pleased to announce the appointment of Faizan Farooqi, Nexus' Vice President of Engineering, to the board of directors of the Company (the "Board").

Mr. Farooqi was appointed to the Board to fill the vacancy resulting from the removal of Keith Sandor, the Company's former Chief Executive Officer. 

Under the Company's second amended and restated shareholders' agreement (as amended, the "Nexus USA"), the Board seat that was occupied by Mr. Sandor is to be appointed by the President of Nexus. Mr. Sandor was placed on paid administrative leave on June 17, 2025 in connection with an investigation into matters related to Mr. Sandor's conduct, and Ravi Thuraisingham, a director of Nexus, was appointed as Interim President and Chief Executive Officer. Mr. Sandor was ultimately terminated as President and Chief Executive Officer of the Company for cause on September 26, 2025. Although given notice, Mr. Sandor did not attend any meetings of the Board of Nexus after being placed on leave on June 17, 2025.

As Mr. Sandor was terminated for cause and failed to attend meetings of the Board, shareholders of Nexus collectively holding more than 75% of the voting shares of Nexus (the "Principal Shareholders") advised the Board of their collective view that it is no longer consistent with the Nexus USA, nor in the best interests of Nexus, for Mr. Sandor to continue as a director of the Company. Accordingly, on January 29, 2026, a Special Resolution (as defined in the Nexus USA) was executed removing Mr. Sandor as a director of Nexus and appointing Mr. Farooqi in his place.

The Principal Shareholders and the Board are confident Mr. Farooqi will provide valuable operational and technical experience while also supplementing the important perspective of Nexus' management, consistent with the purpose of the Board seat contemplated by the Nexus USA.

"Our priority is ensuring Nexus continues to execute on our mission without disruption. I look forward to leading the company through this transition and into our next phase of growth," said Ravi Thuraisingham. "Solar and battery storage are critical to building a more resilient and affordable energy system. The opportunity ahead of us is significant."

• Ravi Thuraisingham has a 30-year proven track record in energy. He has helped build, develop or conduct M&A for seven competitive retail energy companies in the electricity sector, generating over $400 million in EBITDA for those companies.
• Faizan Farooqi has overseen the development and execution of more than 100 MW of renewable energy projects across Ontario, New York, New England, and California. His appointment to the Board reflects Nexus' focus on disciplined project execution, technical rigor, and long-term asset performance.

About Nexus Renewables

Nexus is a full-service renewable energy developer and independent power producer that is part of the Apricus Generation platform. With a current portfolio of over 500 MW of North American solar and energy storage projects under various stages of construction and development, Nexus is delivering energy and resilience to communities where it's most needed. Our projects provide clean energy and widespread economic and environmental benefits for landowners, communities, businesses, and energy customers.

For more information, visit www.nexusrenewables.energy

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SOURCE Nexus Renewables