Stabilis Solutions, Inc. - SLNG STOCK NEWS

Stabilis Solutions (NASDAQ:SLNG) has signed a Memorandum of Understanding with the Port of Port Arthur to establish LNG as a marine fuel source. This agreement allows Stabilis to offer turnkey LNG fueling solutions for vessels at the Port, marking the fifth LNG marine bunkering location along the Gulf Coast. Fueling services are expected to commence in early 2022, utilizing Stabilis' mobile cryogenic assets. The partnership highlights a commitment to sustainable fueling options, enhancing the Port's operational capabilities and supporting the regional economy.

Stabilis Solutions (NASDAQ:SLNG) has announced a partnership with the Cameron Parish Port in Louisiana through a Memorandum of Understanding to establish LNG marine bunkering services. This collaboration marks Stabilis' fourth LNG bunkering location on the Gulf Coast. The plan includes providing turnkey LNG fueling solutions, utilizing mobile cryogenic assets, and ensuring availability of services by the end of 2021. The initiative aims to support the growing demand for LNG as a marine fuel, aligning with sustainability goals.

Stabilis Solutions (SLNG) has entered into a Memorandum of Understanding with Port Isabel Logistical Offshore Terminal (PILOT) to establish LNG as a marine fuel at the Texas port. This collaboration marks Stabilis' third LNG marine bunkering site on the Gulf Coast. The agreement involves turnkey LNG fueling solutions for marine vessels, including dock space identification and necessary permits. LNG bunkering services are set to begin in early 2022, utilizing Stabilis' mobile cryogenic assets and LNG from its George West facility.

Stabilis Solutions (NASDAQ:SLNG) has appointed Westervelt T. Ballard, Jr. as its new president and CEO, effective August 23, 2021. He replaces James C. Reddinger, who has resigned. Ballard joins from Superior Energy Services, where he held multiple leadership roles. Stabilis' founder, J. Casey Crenshaw, will become the non-executive chairman. Ballard expressed excitement about leading the company to capitalize on new energy market opportunities, particularly in LNG and hydrogen solutions.

Stabilis Solutions (NASDAQ:SLNG) reported record second quarter revenues of $16.1 million, marking a 221% increase year-over-year. The company delivered 13.7 million gallons of LNG, a 197% increase compared to the prior year. Stabilis acquired an LNG production facility in Port Allen, Louisiana, increasing capacity by 30%. The company signed MOUs for LNG marine fueling infrastructure with the Port of Corpus Christi and Galveston Wharves. Despite the growth, net income showed a loss of ($1.0 million), though improved by $2.4 million compared to the previous year.

Stabilis Solutions (NASDAQ:SLNG) has signed a Memorandum of Understanding with the Galveston Wharves to provide liquefied natural gas (LNG) fueling services for marine vessels. This partnership aims to establish LNG as a marine fuel at the Port of Galveston, enhancing environmental compliance and operational efficiency for ship operators. Stabilis will leverage its mobile cryogenic assets and liquefaction facilities in Texas and Louisiana to facilitate these services, which are expected to launch in 2021. The global demand for LNG as marine fuel is projected to grow at a 30% annual rate, from 1.0 million tons in 2020 to 4.0 million tons by 2024.

Stabilis Solutions (NASDAQ:SLNG) will release its Q2 2021 financial results on August 4, 2021, post-market. A conference call is scheduled for August 5, 2021, at 10:00 a.m. ET. As a leading provider of energy transition services, Stabilis specializes in liquefied natural gas (LNG) and hydrogen fueling solutions, having delivered over 250 million gallons of LNG in its 16-year history. The company aims to provide cleaner fuel alternatives to various sectors including industrial and transportation.

Stabilis Solutions (NASDAQ:SLNG) has been added to the Russell Microcap Index as of June 28, 2021, enhancing its visibility in the market.

This inclusion allows automatic participation in growth and value style indexes, providing access to a broader range of institutional investors. FTSE Russell, managing approximately $10.6 trillion in assets, offers a significant benchmark for various investment strategies.

Stabilis specializes in liquefied natural gas and hydrogen fueling solutions, catering to multiple industries, and has delivered over 250 million gallons of LNG in its operational history.

Stabilis Solutions, Inc. (NASDAQ: SLNG) has completed the acquisition of an LNG production facility in Port Allen, Louisiana from HR Nu Blu Energy, enhancing its LNG production capacity by 30%. The facility, built in 2018, can produce 30,000 LNG gallons daily, and Stabilis anticipates selling its full capacity immediately to existing customers. This strategic location supports the LNG needs of large customers in the Gulf Coast and aims to capitalize on rising LNG marine bunkering demand. Projected annual EBITDA from this acquisition ranges from $2.5 to $3.0 million.