Duos Technologies Signs $42M Asset Management Agreement with Fortress for 850MW of Power Generation Assets
Duos Technologies Group has announced that its subsidiary Duos Energy has signed a two-year Asset Management Agreement (AMA) worth $42M with Fortress Investment Group affiliates. The agreement involves deploying and operating a fleet of mobile gas turbines with 850 megawatts of combined generation capacity. The assets, being acquired by Fortress from APR Energy, will be managed by Duos, which is already in discussions for deployment to data center developers and international projects. This agreement is part of Duos's strategy to achieve profitability in FY2025.
Duos Technologies Group ha annunciato che la sua controllata Duos Energy ha firmato un contratto di Gestione Patrimoniale (AMA) della durata di due anni del valore di 42 milioni di dollari con affiliati di Fortress Investment Group. L'accordo prevede l'impiego e il funzionamento di una flotta di turbine a gas mobili con una capacità di generazione combinata di 850 megawatt. Gli asset, acquisiti da Fortress da APR Energy, saranno gestiti da Duos, che è già in trattative per il dispiegamento presso sviluppatori di data center e progetti internazionali. Questo accordo fa parte della strategia di Duos per raggiungere la redditività nell'anno fiscale 2025.
Duos Technologies Group ha anunciado que su subsidiaria Duos Energy ha firmado un Acuerdo de Gestión de Activos (AMA) por un valor de 42 millones de dólares con afiliados de Fortress Investment Group. El acuerdo implica la implementación y operación de una flota de turbinas de gas móviles con una capacidad de generación combinada de 850 megavatios. Los activos, que serán adquiridos por Fortress de APR Energy, serán gestionados por Duos, que ya se encuentra en conversaciones para su despliegue con desarrolladores de centros de datos y proyectos internacionales. Este acuerdo es parte de la estrategia de Duos para alcanzar la rentabilidad en el año fiscal 2025.
Duos Technologies Group는 자회사인 Duos Energy가 Fortress Investment Group의 계열사와 자산 관리 계약(AMA)을 체결했으며, 계약 금액은 4,200만 달러에 달한다고 발표했습니다. 이 계약은 850메가와트의 총 발전 용량을 가진 이동식 가스 터빈 함대를 배치하고 운영하는 것을 포함합니다. Fortress가 APR Energy에서 인수한 자산은 Duos에 의해 관리되며, Duos는 데이터 센터 개발자 및 국제 프로젝트에 배치하기 위한 논의를 이미 진행 중입니다. 이 계약은 Duos가 2025 회계연도에 수익성을 달성하기 위한 전략의 일환입니다.
Duos Technologies Group a annoncé que sa filiale Duos Energy a signé un Accord de Gestion d'Actifs (AMA) d'une durée de deux ans d'une valeur de 42 millions de dollars avec des affiliés de Fortress Investment Group. Cet accord prévoit le déploiement et l'exploitation d'une flotte de turbines à gaz mobiles d'une capacité de génération combinée de 850 mégawatts. Les actifs, acquis par Fortress auprès d'APR Energy, seront gérés par Duos, qui est déjà en pourparlers pour leur déploiement auprès de développeurs de centres de données et de projets internationaux. Cet accord fait partie de la stratégie de Duos visant à atteindre la rentabilité pour l'exercice fiscal 2025.
Duos Technologies Group hat bekannt gegeben, dass ihre Tochtergesellschaft Duos Energy einen Vermögensverwaltungsvertrag (AMA) über zwei Jahre im Wert von 42 Millionen Dollar mit Tochtergesellschaften der Fortress Investment Group unterzeichnet hat. Die Vereinbarung umfasst die Bereitstellung und den Betrieb einer Flotte von mobilen Gasturbinen mit einer kombinierten Erzeugungskapazität von 850 Megawatt. Die von Fortress von APR Energy erworbenen Vermögenswerte werden von Duos verwaltet, die bereits in Gesprächen über die Bereitstellung für Datenzentrumsentwickler und internationale Projekte sind. Diese Vereinbarung ist Teil der Strategie von Duos, im Geschäftsjahr 2025 rentabel zu werden.
- Secured significant $42M two-year asset management contract
- Expansion into power generation market with 850MW capacity management
- Strategic diversification of business model
- Immediate revenue potential from active deployment discussions
- Aligns with FY2025 profitability strategy
- None.
Insights
The
The agreement's structure as an asset management contract suggests steady revenue streams rather than one-time sales, supporting the company's goal of achieving profitability in FY2025. The partnership with Fortress Investment Group, a major institutional player, adds credibility to Duos's expansion strategy and could lead to additional opportunities in the power generation sector.
The strategic value of acquiring 850MW of mobile gas turbine capacity is substantial in today's constrained power markets. These assets' rapid deployment capability (weeks vs. 24+ months for traditional infrastructure) creates a significant competitive advantage, particularly in the data center sector where power availability often bottlenecks growth. The behind-the-meter (BTM) configuration bypasses grid constraints, offering an attractive solution for power-hungry facilities requiring immediate capacity.
The timing is optimal given the nationwide grid capacity shortages and the surge in data center development. The fleet's mobility adds strategic flexibility, allowing deployment where demand and margins are highest.
Duos to deploy and operate a fleet of mobile gas turbines being acquired by funds managed by affiliates of Fortress Investment Group
JACKSONVILLE, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), is pleased to announce that its operating subsidiary Duos Energy Corporation has signed a two-year Asset Management Agreement (“AMA”) to deploy and operate a fleet of mobile gas turbines and balance-of-plant inventory (“the portfolio” or “the assets”) that has a combined generation capacity of 850 megawatts.
The AMA has been signed with affiliates of Fortress Investment Group (“Fortress”); funds managed by affiliates of Fortress are acquiring the portfolio from APR Energy. Through the AMA, Duos will oversee the management and deployment of the assets. Duos is already in active discussions regarding deployment to developers of immediate-demand power projects, including US-based data center developers and other international projects.
“This new agreement accelerates the diversification of Duos’s business,” said Chuck Ferry, CEO of Duos Technologies Group. “We are thrilled to partner with Fortress on deployment of the APR Energy assets. With rising demand across the globe for power generation, we see significant opportunity to deploy these high-capacity mobile turbines both in the US and internationally – and they’re available immediately.”
Mobile gas turbines can be particularly valuable for customers needing Behind-the-Meter (BTM) power solutions – as the assets can be deployed in a matter of weeks. This offers a significant advantage over traditional utility power or new generation assets that can incur a 24-month or longer manufacturing timeline.
This agreement accelerates the diversification of Duos’s business as part of its strategy to achieve profitability in FY2025 with the contract value estimated at
“With grid constraints in some markets and rising demand for power, we believe these assets offer an ideal solution for immediately available behind-the-meter power generation,” said Robert Warden, Managing Director at Fortress.
The Fortress – APR Energy transaction will close upon the completion of customary closing conditions and regulatory approval.
To learn more about Duos Energy Corporation, visit: www.duosenergycorp.com
To Learn more about Fortress Investment Group, visit: www.fortress.com
To learn more about Duos Technologies, visit www.duostechnologies.com
About Duos Energy Corporation
Duos Energy Corporation, a subsidiary of Duos Technologies Group, Inc. (Nasdaq: DUOT), focuses on developing, owning, and operating sustainable energy projects to power Edge Data Centers and critical infrastructure industrial facilities across the United States. Specializing in clean-burning natural gas generation and green technologies, the company offers rapid deployment of dedicated off-grid power plants. With extensive industry experience, Duos Energy is dedicated to providing fast-track, reliable, and eco-friendly energy solutions that support mission-critical operations. For more information, visit www.duosenergycorp.com.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com, www.duosedge.ai and www.duosenergycorp.com.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated" and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
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FAQ
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