HOMER CITY REDEVELOPMENT APPOINTS COREY HESSEN AS CEO

Hessen will be responsible for leading the transformation of the former Homer City coal power plant into a more than 3,200-acre natural gas-powered data center campus, designed to meet the growing artificial intelligence (AI) and high-performance computing (HPC) needs of the innovative technology companies shaping America’s digital future. He brings more than 25 years of experience across the energy sector to HCR and is a recognized industry leader in both power generation operations and new asset development.

Working alongside HCR’s experienced on-the-ground team, Hessen will focus on overseeing all aspects of the long-term development and management of the Homer City Energy Campus, including construction and power generation and natural gas production. He will also collaborate closely with HCR’s partners, including Kiewit Power Constructors Co. and GE Vernova (NYSE: GEV).

Andrew Shannahan, a Partner at Knighthead Capital Management, LLC, and member of HCR’s parent company’s Board of Directors, stated, “Corey brings decades of experience leading transformational energy projects from inception to power generation that will be vital to the redevelopment of the Homer City Energy Campus. He has not only overseen the development of billions of dollars of new power generation assets but also brings crucial first-hand experience managing the assembly of the GE Vernova turbines that will power the new Homer City facility.”

Shannahan added, “This is an incredibly exciting time for Homer City, and we are confident that Corey is the ideal leader to drive this project forward alongside the talented HCR leadership team. We also want to thank Bill for his dedication to overseeing the initial phase of the project and helping us to accelerate our ability to unlock the immense level of economic opportunity this project will bring to Indiana County and the surrounding community. We are delighted in Bill’s continued involvement.”

Prior to HCR, Hessen served as CEO and Partner at Black Diamond Energy Partners, where he was responsible for all business activities including asset acquisition, operational functions and transaction structuring. Throughout his career, Hessen has also served in executive roles at TC Energy (NYSE: TRP), Constellation Energy Group (NASDAQ: CEG), Exelon Corporation (NASDAQ: EXC) and Xcel Energy (NASDAQ: XEL). He currently serves on the board of directors of ACES Delta.

Hessen stated, “The Homer City Energy Campus is going to be a game changer for energy generation in Pennsylvania, the entire Indiana County community and America’s digital future. I am thrilled to join the HCR team at such a pivotal moment, and I look forward to working closely with our best-in-class partners and local and state leaders to ensure Homer City’s transformation happens as quickly and seamlessly as possible.”

The new Homer City Energy Campus, which was announced on April 2, 2025, is expected to include the following key attributes and benefits:

· Delivery of up to 4.5 gigawatts (GW) of power to support AI-driven hyperscale data centers, while reducing greenhouse gas emissions by 60–65% per megawatt hour compared to the former coal plant.

· Deployment of numerous previously secured long-lead power components coupled with sufficient generating capacity to serve multiple large data center customers and supply power to thousands of homes on the local grid.

· Creation of more than 10,000 direct on-site construction-related jobs1 along with approximately 1,000 total direct and indirect permanent high-paying positions2 in technology, operations and energy infrastructure.

· An initial capital investment projected to exceed $10 billion for power infrastructure and site readiness, with data center development to inject billions more, making this the largest such investment in Pennsylvania’s history.

To learn more about the future Homer City Energy Campus, please visit: www.homercityredevelopment.com.