Enerflex Announces Major Project Award and Increases Behind-the-Meter Power Generation Backlog to Over 1.75 Gigawatts
The power-generation backlog extends through 2028, alongside approximately $100 million authorized for facilities and capabilities.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Enerflex (EFXT) secured a contract for over one gigawatt of natural gas-fired power generation units for a North American data center development. The scope covers design, engineering, fabrication and assembly of behind-the-meter units, which provide power without a grid connection.
Including additional awards, its backlog for these units now exceeds 1.75 gigawatts, with deliveries extending through 2028. Execution will use North American manufacturing operations. Enerflex has authorized approximately $100 million to expand Engineered Systems facilities and capabilities; $15 million is included in its 2026 capital expenditure guidance. The company expects these investments and operational initiatives to increase the business line’s revenue capacity, and sees opportunities for future installation and after-market services.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointOver one gigawatt contract secured for power generation equipment serving a North American data center development.
- Moderate pointBehind-the-meter power generation backlog exceeds 1.75 gigawatts, with deliveries extending through 2028.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Facility investments and operational initiatives are expected to increase Engineered Systems revenue capacity.
- Minor point. Forward-looking: it has not happened yet and may not happen.Enerflex sees future service opportunities in commissioning, installation and after-market support, including digital solutions.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Authorized facility and capability investments require approximately $100 million, including $15 million in 2026 capital expenditure guidance. 3.4% of market cap
Details
Market move: EFXT +5.07% vs previous close. data center contract award
On Oct 13, the day this news came out, the latest delayed price for EFXT is 5.07% above the previous close. The latest delayed price is $25.30.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- New project capacity
- over one gigawatt
- Behind-the-meter natural gas-fired units for a North American data center development
- Backlog capacity
- exceeds 1.75 gigawatts
- Behind-the-meter natural gas-fired power generation; deliveries extend through 2028
- Delivery period
- through 2028
- Behind-the-meter power generation backlog
- ES facilities and capabilities investments
- approximately $100 million
- Previously authorized investments
- 2026 capital expenditure guidance allocation
- $15 million
- Included in guidance for ES facilities and capabilities investments
Historical Context
-
Earlier award covered approximately 450 MW of data-center generation, with deliveries scheduled for 2027–2028.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
behind-the-meter technical
capital expenditure financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, Alberta, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announces the award of a major Engineered Systems (“ES”) project. The Company has been contracted to design, engineer, fabricate, and assemble over one gigawatt of low emission behind-the-meter natural gas-fired power generation units for a large-scale North American data center development. Combined with additional project awards, including approximately 450 megawatts announced on October 1, 2026, Enerflex’s backlog of behind-the-meter natural gas-fired power generation now exceeds 1.75 gigawatts, with deliveries extending through 2028.
The projects will be executed through Enerflex's North American manufacturing operations. To support the execution of the Company’s behind-the-meter natural gas-fired power generation backlog and expected growth across Enerflex’s core markets, the Company is investing in expanding the capabilities of its ES business line. As previously announced, Enerflex has authorized approximately
Paul Mahoney, Enerflex's President and Chief Executive Officer, commented: “The demand for reliable, prime power that does not require grid connection, supporting artificial intelligence and digital infrastructure development, continues to grow. Our success securing over 1.75 gigawatts of backlog highlights Enerflex's unique capabilities in providing an integrated design, engineering, full-scale fabrication, and project execution solutions for behind-the-meter power generation projects. We appreciate the support and trust in Enerflex shown by our client partners to execute these critical projects and look forward to continuing to convert our opportunity pipeline into meaningful greenfield expansion and after-market, digital, and maintenance services.”
Beyond the initial equipment scope, the Company’s backlog of low-emission behind-the-meter natural gas-fired power generation units provides opportunities for future commissioning, installation, and after-market services support including digital solutions with Enerflex’s ReliaCore™ Asset Performance Management ecosystem, aligning with Enerflex’s commercial initiatives to support the full lifecycle requirements of behind-the-meter power generation development.
ADVISORY REGARDING FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “anticipate”, “believe”, “could”, “expect”, “future”, “may”, “potential”, “should”, “will”, and similar expressions, (including negatives thereof) are intended to identify FLI.
In particular, this news release includes (without limitation) FLI pertaining to: (i) the Company’s backlog and the project awards that make up the backlog; (ii) the expected growth across Enerflex’s core markets; (iii) the Company’s 2026 guidance, including PP&E and infrastructure investments to support the Company’s Engineered Systems business; (iv)expectations pertaining to increases in revenue capacity of Enerflex’s Engineered Systems business and the timing associated therewith, if at all; (v) the ability of the Company to capitalize and convert its opportunity pipeline into meaningful commercial awards, the terms and conditions of such awards, and the timing associated therewith, if at all; and (vi) the ability of the Company to capitalize on opportunities including commissioning, installation, and after-market services support including digital solutions through Enerflex’s ReliaCore Asset Performance Management ecosystem, and the timing of such opportunities, if at all, associated with the Company’s backlog of low-emission behind-the-meter natural gas-fired power generation units.
FLI reflect management's current beliefs and assumptions with respect to such things as the impact of general economic conditions; commodity prices; the markets in which Enerflex's products and services are used; general industry conditions, forecasts, and trends; changes to, and introduction of new, governmental regulations, laws, and income taxes; increased competition; availability of qualified personnel; political unrest and geopolitical conditions; and other factors, many of which are beyond the control of Enerflex. More specifically, Enerflex’s expectations in respect of its FLI are based on a number of assumptions, estimates, and projections developed based on past experience and anticipated trends, including but not limited to: (i) the projects proceeding in accordance with the terms of the applicable contracts, including expected scope, timing, and customer performance obligations; (ii) deliveries extending through 2028 as currently scheduled; (iii) demand for low-emission behind-the-meter power generation solutions, including demand associated with data center and digital infrastructure development, remaining consistent with current expectations; (iv) Enerflex's ability to execute the project utilizing its existing and expanded manufacturing capabilities and supply chain resources; (v) the availability of labor, equipment, components, and transportation services on commercially reasonable terms; (vi) capital expenditures and other investments being completed substantially in accordance with the Company's current plans, timelines, and cost estimates; (vii) the Company's ability to realize anticipated operational efficiencies, increased manufacturing capacity, and revenue opportunities resulting from such investments; (viii) general economic, market, and industry conditions remaining substantially consistent with current expectations; and (ix) the Company's ability to secure and execute future opportunities for commissioning, installation, and after-market services including digital solutions.
As a result of the foregoing, actual results, performance, or achievements of Enerflex could differ and such differences could be material from those expressed in, or implied by, the FLI. The principal risks, uncertainties, and other factors affecting Enerflex and its business are identified under the heading "Risk Factors" in: (i) Enerflex's Annual Information Form for the year ended December 31, 2025, dated February 25, 2026; (ii) the Company’s MD&A as at June 30, 2026; and (iii) in other filings with Canadian securities regulators and the SEC, copies of which are available under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca and www.sec.gov/edgar, respectively. Other unpredictable or unknown factors not discussed in this news release could have material adverse effects on the actual results, performance, or achievements of Enerflex expressed in, or implied by, the FLI.
The FLI included in this news release are made as of the date of this news release and are based on the information available to the Company at such time and, other than as required by law, Enerflex disclaims any intention or obligation to update or revise any FLI, whether as a result of new information, future events, or otherwise. This news release and its contents should not be construed, under any circumstances, as investment, tax, or legal advice.
ABOUT ENERFLEX
Enerflex is a leading provider of modular natural gas, power, and treated water technology solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer-focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value.
With approximately 4,500 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future. The Company remains committed to the future of natural gas and the critical role it plays, while focused on sustainability offerings to support the world’s energy needs.
Enerflex’s common shares trade on the Toronto Stock Exchange under the symbol “EFX” and on the New York Stock Exchange under the symbol “EFXT”. For more information about Enerflex, visit www.enerflex.com.
For investor and media enquiries, contact:
Paul Mahoney
President and Chief Executive Officer
E-mail: PMahoney@enerflex.com
Preet S. Dhindsa
Senior Vice President and Chief Financial Officer
E-mail: PDhindsa@enerflex.com
Jeff Fetterly
Vice President, Corporate Development and Capital Markets
E-mail: JFetterly@enerflex.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Enerflex’s new data center power generation contract?
Enerflex has been contracted to supply over one gigawatt of low-emission, behind-the-meter natural gas-fired power generation units for a large-scale North American data center development. Its scope includes design, engineering, fabrication and assembly, with execution through its North American manufacturing operations.
How large is Enerflex’s behind-the-meter power generation backlog?
Enerflex’s behind-the-meter natural gas-fired power generation backlog now exceeds 1.75 gigawatts, with deliveries extending through 2028. This includes the new data center contract and additional project awards, including approximately 450 megawatts announced on October 1, 2026.