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New Fortress Energy Inc. (NFE) is a global leader in providing clean, reliable, and affordable natural gas solutions. Established in 2015, the company has pioneered the development and supply of natural gas through end-to-end logistics and infrastructure solutions tailored for power producers, transportation companies, and industrial users worldwide.
NFE's operations began with the construction of the first LNG liquefaction plant in Florida, located in Miami. This facility features comprehensive rail and truck operations, along with on-dock rail access at Port of Miami and Port Everglades. The plant caters to various industries including aerospace, marine, transportation, and power, and is poised to lead the transition from oil to natural gas over the next decade.
One of NFE's significant accomplishments includes receiving approval to export natural gas to non-FTA countries and successfully exporting the first LNG shipment from the U.S. lower-48 states. This milestone underscores the company's capability and commitment to expanding global access to natural gas.
The company's business model is integrated, covering the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and the development or conversion of natural gas-fired generation. NFE has invested in floating, liquefied natural gas vessels to reduce costs and secure a long-term gas supply for its terminals.
NFE operates through two primary segments: Terminals and Infrastructure (T&I) and Ships. These segments exemplify the company's strategic approach to managing the logistics and infrastructure essential for efficient natural gas distribution. By leveraging its extensive network and innovative solutions, NFE continues to foster partnerships and advance projects that enhance energy accessibility and sustainability.
Recent news and updates about NFE highlight its ongoing initiatives and developments in the energy sector. Stay informed on the latest performance, events, and advancements of New Fortress Energy Inc., a company dedicated to transforming the energy landscape through cleaner and more affordable natural gas solutions.
New Fortress Energy Inc. (NASDAQ: NFE) has announced its plans to release financial results for the second quarter of 2024 on Friday, August 9th, 2024, before 8:00 A.M. Eastern Time. The company will host a conference call at 8:00 A.M. Eastern Time on the same day to discuss the results. Investors can access the call by dialing (888) 224-1005 (toll-free from the U.S.) or +1-323-794-2575 (from outside the U.S.), using the reference code 3695554. A simultaneous webcast will be available on the company's website. The press release and earnings supplement will be posted on the Investors section of NFE's website prior to the call.
Pennybacker Capital Management has signed an agreement to acquire a small-scale LNG business in Miami, Florida, from New Fortress Energy (NFE). The Miami Facility includes a liquefaction plant capable of producing 8,300 MMBtu of LNG daily and has a storage capacity of ~1,000 cubic meters. It can export LNG to both FTA and non-FTA countries. Financial terms were not disclosed. The acquisition is expected to conclude in Q3 2024, subject to customary conditions. Pennybacker plans to maintain existing customer relationships and expand services to new U.S. and Caribbean markets.
New Fortress Energy (Nasdaq: NFE) has launched Klondike Digital Infrastructure, a new business focused on developing data center solutions for hyperscale clients. This initiative aims to address the increasing power demands of artificial intelligence (AI) by utilizing behind-the-meter, on-site power. Klondike's approach promises grid stability, significant transmission capacity, power reliability, energy cost savings, and scalability. The company is developing data center sites across Brazil, Ireland, and the United States, totaling over 1,000 acres of developable land.
New Fortress Energy (NFE) announced the sale of its Miami liquefaction and storage facility to a U.S. middle-market infrastructure fund. The Miami Facility, which can produce 8,300 MMBtu of LNG daily and has a storage capacity of around 1,000 cubic meters, is set to be sold by Q3 2024. The facility is authorized to export up to 60,000 tonnes of LNG per year under a 20-year term initiated on February 5, 2016. This transaction aligns with NFE's strategy to reduce debt and reinvest proceeds into high-return downstream projects, according to CEO Wes Edens. New Fortress Energy focuses on addressing global energy poverty through its natural gas and LNG infrastructure and logistics assets.
New Fortress Energy (NFE) announced that its first Fast LNG unit, located offshore Altamira, Mexico, will begin producing liquefied natural gas (LNG) within the next 10 days, with the first cargo delivery expected in July. The company has completed all necessary pre-commissioning activities and is now ready to start liquefaction operations. NFE aims to address energy poverty and support the global transition to more reliable, affordable, and clean energy through its extensive network of natural gas and LNG infrastructure.
New Fortress Energy Inc. (Nasdaq: NFE) reported strong financial results for the first quarter of 2024, with highlights including Adjusted EBITDA of $340 million, net income of $57 million, and Adjusted EPS of $0.67. The company achieved significant milestones, including the completion of its first FLNG unit and the commencement of operations in Brazil. Financially, NFE generated Funds from Operations per share of $0.92 and expects to reach an Illustrative Adjusted EBITDA Goal of ~$2 billion for the full year 2024.
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