Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. reports developments across an integrated natural gas and LNG infrastructure business that owns and operates terminals, liquefaction and delivery assets, ships, and logistics capabilities. Recurring company news covers terminal commercialization and capacity arrangements, gas-supply contracts, LNG-to-power infrastructure, and power-generation support in markets such as Brazil and Puerto Rico.
Updates also address material agreements, capital-structure actions, debt and forbearance matters, shareholder voting items, governance disclosures, and operating and financial results. The company’s business is organized around Terminals and Infrastructure and Ships, with the infrastructure segment spanning natural gas procurement, liquefaction, logistics, shipping, facilities, and natural gas-fired power generation development.
New Fortress Energy Inc. (NASDAQ: NFE) announced the pricing of a private offering of $250 million in additional 6.750% senior secured notes due 2025. These notes will be issued at 105.25% of principal, with accrued interest from September 2, 2020. The net proceeds will be utilized for general corporate purposes. The offering is directed at qualified institutional buyers and will not be registered under the Securities Act, limiting its sale in the U.S. The closing of this offering is subject to limited conditions.
New Fortress Energy (NASDAQ: NFE) has announced a public offering of $150 million in Class A common stock, with an underwriter's option for an additional $22.5 million. The company will utilize the net proceeds for general corporate purposes. Morgan Stanley is the sole underwriter. This offering is conducted under an effective registration statement and a preliminary prospectus supplement available through SEC filings. The press release emphasizes that it does not constitute an offer to sell or solicit purchases in areas where it would be illegal.
New Fortress Energy (NASDAQ: NFE) plans to offer an additional $250 million of 6.750% senior secured notes due 2025, subject to market conditions. This adds to the existing $1,000 million outstanding in the same notes. The company aims to use the net proceeds for general corporate purposes. The offering will be available to qualified institutional buyers in the U.S. and outside the U.S. under specific exemptions from registration. This press release contains forward-looking statements which involve risks and uncertainties, and actual results may differ.
New Fortress Energy (NFE) announced its third-quarter 2020 financial results, reporting record revenues of nearly $137 million, an increase of $40 million from Q2 2020. The company declared a fourth-quarter dividend of $0.10 per Class A common share, payable on December 9, 2020. Average daily volumes sold reached 1.5 million gallons per day, with expectations for continued growth, targeting volumes of 1.7 to 2.0 million gallons. However, NFE reported a net loss of approximately $37 million, primarily due to a $28 million loss on debt extinguishment.
New Fortress Energy (NASDAQ: NFE) has invested in H2Pro, an Israeli company developing innovative green hydrogen production technology. Through its Zero division, New Fortress aims to support demonstration projects and commercialize H2Pro's E-TAC technology, which boasts 95% efficiency and requires 30% less renewable electricity than traditional methods. The partnership targets a production cost of $1 per kilogram of hydrogen. Demonstrations will occur in Israel and a pilot project is planned in the US for 2023.
New Fortress Energy (NASDAQ: NFE) signed a Memorandum of Understanding (MOU) with the Philippine National Oil Company (PNOC) to enhance the development of LNG and power infrastructure in the Philippines. This partnership aims to provide cleaner, affordable energy and create jobs. The MOU will help identify opportunities for investment in an LNG value chain, promoting energy security and stability in the region. The agreement is non-binding and future terms may vary from the MOU framework.
New Fortress Energy plans to release its third quarter 2020 financial results on October 29, 2020, before 8:00 A.M. Eastern Time. The earnings press release and an accompanying earnings supplement will be accessible on the company's investor website. A conference call for discussing these results is also scheduled for the same day at 8:00 A.M. Eastern Time, with access via phone or a webcast. Additionally, a replay of the call will be available until November 5, 2020. New Fortress Energy focuses on advancing clean energy through natural gas infrastructure solutions.