St. Albert, Alberta--(Newsfile Corp. - May 26, 2026) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) ("Enterprise" or the "Company") is pleased to announce that it intends to change its corporate name to Evolution PowerX Corp., subject to shareholder approval at its upcoming Annual and Special Meeting to be held on June 25th 2026.
The proposed name change marks an important step in the Company's strategic transformation into a leading provider of distributed natural gas turbine power generation, microgrid systems, and integrated power infrastructure solutions across Canada and other industrial markets.
Over the past several years, the Company has deliberately expanded its power-focused operations through its subsidiaries and branded platforms, including Evolution Power Projects and Evolution Power Solutions. Management believes the proposed corporate identity better reflects the Company's accelerating growth profile, expanding customer demand, and significant long-term opportunity within the distributed power and energy infrastructure sector.
"The proposed transition to Evolution PowerX Corp. reflects both the direction of our business and the market opportunity ahead of us," said Leonard D. Jaroszuk, Chairman & CEO. "Our legacy site infrastructure and rental operations remain valuable, cash-generating businesses. However, the growth rate, scalability, and market demand within our power solutions platform are increasingly becoming the primary drivers of the Company's future."
The Company is experiencing growing demand for natural gas turbine power generation and integrated microgrid solutions across drilling operations, completions activity, production facilities, remote industrial sites, flare gas utilization, and prime power applications. Management believes this demand is still in the early stages of a broader market shift, as industrial customers increasingly seek reliable, cost-effective, lower-emission alternatives to conventional diesel power.
By delivering solutions that can improve power reliability, reduce fuel costs, support emissions reduction, and enhance operational efficiency, the Company believes it is well positioned to capture a larger share of the rapidly expanding distributed energy market.
Management also believes the proposed name change may enhance investor recognition and improve valuation alignment as the Company continues to transition from a traditional energy services profile toward a higher-growth power solutions and energy infrastructure platform.
"As our power division becomes a larger contributor to revenue, EBITDA, asset deployment, and future growth, we believe the Company should increasingly be evaluated as a power solutions and energy infrastructure business," said Desmond O'Kell, President & Director. "Evolution PowerX Corp. better reflects the scale of our ambition, the strength of our platform, and the markets we intend to serve."
The Company's shares will continue to trade under the symbol "E" following the name change. The Company will provide further updates regarding the effective date of the name change once it is finalized.
About Enterprise Group, Inc.
Enterprise Group is a consolidator of energy services and specialized equipment focused primarily on power systems, energy infrastructure, and complementary site infrastructure solutions supporting the energy, resource, industrial, and infrastructure sectors. The Company's evolving power platform is focused on natural gas turbine generation, distributed power systems, and integrated microgrid solutions designed to improve reliability, reduce emissions, and displace diesel-based generation systems. More information is available at the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedarplus.ca.
For questions or additional information, please contact:
Leonard Jaroszuk: Chairman & CEO, or
Desmond O'Kell: President & Director
[email protected]
780-418-4400
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements in this news release include, without limitation, the proposed name change; growth from the Company's power division; and opportunities available to the Company. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR+ website www.sedarplus.ca) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
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