ORBITAL ENERGY GROUP, INC. REBRANDS TO ORBITAL INFRASTRUCTURE GROUP, INC.
Orbital Energy Group, Inc. has officially rebranded to Orbital Infrastructure Group, Inc. (NASDAQ: OIG) to align with its enhanced infrastructure services strategy. The company has shifted its corporate domicile from Colorado to Texas, with the rebranding effective from August 1, 2022. This change follows the discontinuation of its Orbital Gas Services operation and signifies a focus on electric power, telecommunications, and renewable industries. A redesigned website will launch by August 15, 2022.
- Company rebranded to Orbital Infrastructure Group, enhancing alignment with its infrastructure services strategy.
- Relocated corporate domicile from Colorado to Texas, potentially offering operational advantages.
- Shifted focus to electric power, telecommunications, and renewable sectors, positioning for market growth.
- Discontinued Orbital Gas Services operation, potentially impacting revenue streams.
Rebrand aligns with the company's go-forward infrastructure services strategy
HOUSTON, Aug. 1, 2022 /PRNewswire/ -- Orbital Energy Group, Inc. (NASDAQ: OEG), a diversified infrastructure services platform, providing engineering, design, construction, and maintenance services to customers in the electric power, telecommunications, and renewable industries, today announced the rebranding of the company to Orbital Infrastructure Group, Inc. (NASDAQ: OIG) ("OIG" or the "Company"), to align with the Company's infrastructure strategy, and its continued expansion and market diversification. In addition to rebranding the Company, OIG has relocated its corporate domicile from the State of Colorado to Texas. Effective August 1, 2022, the Company will begin trading on the Nasdaq under the ticker symbol "OIG."
"Earlier this year, the company discontinued its Orbital Gas Services operation and has completely transformed to be a provider of infrastructure solutions serving electric power, telecommunications, and renewable customers. The Orbital Infrastructure Group brand better represents our infrastructure strategy and the service platform that is now established," said Jim O'Neil, OEG's Vice-Chairman & CEO. "Furthermore, the OIG brand is more congruent with our mission to provide solutions to our customers that contribute to reducing the Nation's carbon footprint.
In conjunction with the name and domicile change, OIG has redesigned and upgraded its website, which will go live on or before August 15, 2022 at http://www.orbitalinfrastructuregroup.com/.
Orbital Infrastructure Group, Inc. (Nasdaq: OIG) is a diversified infrastructure services platform, providing engineering, design, construction, and maintenance services to customers in three operating segments; electric power, telecommunications, and renewables.
Beginning in April 2021, Orbital Infrastructure Group transformed its infrastructure strategy with the acquisitions of GTS and Front Line Power Construction, the company's telecommunications and electric power segment platforms, as well as three synergistic "tuck in" acquisitions (IMMCO, Inc, Full Moon Telecom, and Coax Fiber) and the divestiture of its legacy Orbital Gas Systems business. The Company is now positioned to profitably grow its infrastructure services platform for years to come, organically and through synergistic acquisitions to capitalize on strong multi-year end market drivers in the industries we serve.
Orbital Infrastructure Group is dedicated to maximizing shareholder value, by striving to exceed our customers' expectations, building a diverse workforce, and making a positive difference in the lives of our employees and the communities in which we operate, and contributing to reducing the carbon footprint through the services we provide.
For more information please visit: www.orbitalinfrastructuregroup.com
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the expected use of proceeds. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to be materially different from any results, performance or achievements expressed or implied by the forward-looking statements. Such factors include the risk factors set forth in the Company's filings with the SEC, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2020, its periodic reports on Form 10-Q, and its Current Reports on Form 8-K filed in 2020 and 2021, as well as the risks identified in the shelf registration statement and the prospectus supplement relating to the offering. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. Orbital undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE Orbital Energy Group, Inc.
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