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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 (NASDAQ: NFE) announced an increase in its full-year 2022 Adjusted EBITDA goal to
New Fortress Energy (NFE) has finalized agreements with Mexico's Comisión Federal de Electricidad (CFE), enhancing their strategic alliance supported by President Andrés Manuel López Obrador. The agreements include expanding NFE's natural gas supply to CFE's power plants in Baja California Sur, selling its 135 MW La Paz power plant to CFE, and establishing a new floating LNG hub off Altamira, Tamaulipas. NFE plans to deploy multiple FLNG units and anticipates the delivery of its first unit by mid-2023, contributing to cleaner energy production and reduced emissions.
New Fortress Energy Inc. (NASDAQ: NFE) has announced a cash distribution of $0.546875 per unit for its Series A Cumulative Redeemable Preferred Units. This distribution covers the period from August 15, 2022 to November 14, 2022, with payment scheduled for November 15, 2022. The record date for unitholders is November 7, 2022. This move underscores New Fortress Energy's commitment to delivering value to its investors.
New Fortress Energy Inc. (NASDAQ: NFE) will announce its third quarter 2022 financial results on November 8, 2022, at 8:00 A.M. Eastern Time. The press release and earnings supplement will be available on the company’s website. Following this, management will host a conference call accessible via phone and a public webcast. This event aims to provide insights into the company’s financial performance and strategies in the energy sector.
New Fortress Energy (NASDAQ: NFE) announced the successful closing of the CELSE Power Plant sale to Eneva S.A., marking a key transaction following the initial announcement on June 1, 2022. This move, alongside Ebrasil Energia Ltda, simplifies NFE's capital structure and is aimed at achieving an investment grade credit rating. Proceeds will fund its Fast LNG program and other LNG projects globally. The sale also allows NFE to pay off debts, while Eneva will assume CELSE's obligations. Energos Infrastructure, a joint venture with Apollo (NYSE: APO), will continue operating the Golar Nanook for CELSE.
New Fortress Energy (NASDAQ: NFE) will host an FLNG Investor Day at Kiewit Offshore Services shipyard in Corpus Christi, Texas, on November 2, 2022, at 10:00 A.M. Central Time. The event aims to showcase NFE's Fast LNG program and ongoing marine infrastructure conversions. NFE anticipates mechanical completion of its first FLNG unit by March 2023, with operations expected by mid-year. Space is limited, requiring interested parties to register by September 30, 2022. NFE focuses on global energy infrastructure to support energy security and economic growth.
New Fortress Energy (NASDAQ: NFE) and Apollo (NYSE: APO) have finalized a Joint Venture named Energos Infrastructure, which operates 11 liquefied natural gas (LNG) vessels, including Floating Storage and Regasification Units. The partnership aims to enhance energy security while facilitating a transition towards cleaner energy. Energos is primarily owned by Apollo-managed funds (80%) and NFE (20%). The total implied enterprise value of Energos is around $2 billion. NFE is set to charter ten vessels for up to 20 years to support its global projects.
New Fortress Energy (NFE) has partnered with Plug Power (PLUG) to establish a 120 MW green hydrogen plant in Beaumont, Texas. This facility, expected to be among the largest in North America, aims to produce over 50 tons of green hydrogen daily, with scalability up to 500 MW. The project aligns with favorable U.S. policies for hydrogen and is strategically located near industrial users, enhancing logistics and infrastructure. Executives from both companies emphasize the project's vital role in decarbonization and the growing green hydrogen market.
New Fortress Energy reported Q2 2022 Adjusted EBITDA of $283 million, with a trailing twelve months total of $1.05 billion. Net loss for Q2 2022 was $(178) million, while trailing twelve months net income stood at $197 million. Adjusted EPS was $0.69 per share, offset by a $315 million non-cash impairment charge. The company is on track for an illustrative Adjusted EBITDA goal of $1 billion for 2022 and $1.5 billion for 2023. NFE's FLNG deployment expanded from one to three Gulf of Mexico locations, contributing approximately 8 MTPA capacity.
New Fortress Energy (NASDAQ: NFE) has declared a cash distribution of $0.546875 per unit of its 8.75% Series A Cumulative Redeemable Preferred Units for the period from May 16, 2022 to August 14, 2022. The payment will be made on August 15, 2022 to unitholders of record as of August 8, 2022. This distribution reflects the company's commitment to providing returns to its preferred unitholders while it continues to address energy needs globally.
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