Stabilis Solutions Announces Extension of LNG Fuel Contract in Support of Grid Resiliency

HOUSTON, TX / ACCESSWIRE / April 30, 2024 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean fueling and power production, storage, and last mile delivery solutions for many of the world's most recognized, high-performance brands, today announced the extension of its LNG supply agreement with a leading global provider of on-demand industrial power solutions, together with an update on Stabilis' role as a solutions provider of choice for peak load, intermittent, distributed, and emergency relief power needs across multiple industries.

KEY HIGHLIGHTS

• Stabilis continues to enhance its role as a leading clean fuel and power solutions provider for behind-the-meter clean energy installations. Under the terms of Stabilis' supply agreement extension, Stabilis will provide turnkey production and last mile delivery of up to 9.5 million gallons of LNG to generate roughly 23 megawatt-hours of grid resiliency power in support of communities along the Gulf Coast through June 2025.
• Like marine bunkering and aerospace, power generation represents a significant growth sector for Stabilis. In 2023, Stabilis delivered LNG to generate approximately 236,000 megawatts of energy to the power generation sector, representing 25% of total revenue. Stabilis anticipates that future demand for its behind-the-meter power solutions will be driven by significant growth within the data center, manufacturing, and broader industrial sectors, together with weather-related and emergency relief events.

MANAGEMENT COMMENTARY
"Stabilis continues to build a market-leading platform capable of providing turnkey clean fueling and power generation solutions serving a diverse range of growth markets and customers, from leading aerospace and marine brands, to distributed power companies," stated Westy Ballard, President and CEO of Stabilis. "As technology continues to advance, how our nation sources and consumes energy will also evolve, positioning our business to capitalize on the quantum of change required to support the next chapter of commercial and industrial growth."

"Domestic energy consumption is expected to increase materially over the next decade, placing increased stress on the U.S. electrical grid, and we believe our heritage as a last-mile provider of on-demand and redundant power solutions that sit beyond the service scope of traditional energy infrastructure will become increasingly more important in the years ahead. We are excited to continue our partnership with our global industrial power solutions customer, consistent with our strategic focus on multi-year, high-value contractual relationships," stated Ballard.