Welcome to our dedicated page for Solaris Energy Infrastructure news (Ticker: SEI), a resource for investors and traders seeking the latest updates and insights on Solaris Energy Infrastructure stock.
Solaris Energy Infrastructure, Inc. (NYSE: SEI) generates frequent news and updates through its activities in distributed power generation and oil and gas logistics. Headquartered in Houston, Texas, the company reports two operating segments, Solaris Power Solutions and Solaris Logistics Solutions, and serves U.S. end markets that include energy, data centers, and other commercial and industrial sectors.
News coverage for Solaris commonly includes quarterly earnings results, updated guidance, and segment performance details. The company regularly issues press releases summarizing revenue, net income, and Adjusted EBITDA, along with commentary on activity levels in its Solaris Power Solutions and Solaris Logistics Solutions segments. These releases often highlight trends in megawatts of power capacity earning revenue, utilization of logistics systems, and the mix of service and leasing revenue.
Investors following SEI news will also see announcements related to financing and capital structure, such as senior convertible notes offerings, capped call transactions, amendments to revolving credit facilities, and details on how proceeds are allocated to repay term loans, purchase additional turbine capacity, and fund growth capital for power generation equipment and related electrical infrastructure.
Corporate development news includes items such as the acquisition of HVMVLV, LLC, which Solaris describes as a specialty provider of electrical control and distribution equipment and associated engineering services, and updates on the company’s Stateline Power joint venture to provide primary power to a data center. Governance and leadership updates, including the appointment of a Co-Chief Executive Officer and dual listing of Solaris’ Class A common stock on NYSE Texas in addition to the New York Stock Exchange, are also disclosed through press releases and Form 8-K filings.
This SEI news page allows readers to track Solaris’ earnings announcements, financing transactions, acquisitions, joint ventures, and other material events as reported in company communications and SEC filings.
Solaris Energy Infrastructure (NYSE:SEI) has announced that Chief Operating Officer Kelly Price will retire on December 31, 2024. Price, who has been COO since early 2017, will continue to support the company during the transition period and serve as an advisor throughout 2025. Chairman and CEO Bill Zartler praised Price's contributions to Solaris, highlighting his role in driving operational efficiency and delivering strategic organic initiatives that have contributed to the company's growth and success.
The announcement comes as Solaris prepares to search for a new COO, considering both internal and external candidates. This transition plan ensures a smooth handover of responsibilities and maintains continuity in the company's operations.
Solaris Energy Infrastructure, Inc. (NYSE:SEI), formerly Solaris Oilfield Infrastructure, Inc. (NYSE:SOI), has completed its acquisition of Mobile Energy Rentals (MER). The company has secured a $325 million senior secured term loan and is finalizing a $75 million revolving credit facility to support the acquisition and scale MER's distributed power fleet. These new credit agreements replace the previous $300 million secured bridge term loan facility.
Solaris has also rebranded to 'Solaris Energy Infrastructure, Inc.' and will begin trading under the new ticker symbol 'SEI' on September 12, 2024. The acquisition brings an experienced team, a highly-contracted base business, and growth opportunities in both oilfield and commercial/industrial sectors, including data centers. The company aims to deliver a growing and diversified cash flow stream, enhancing its ability to pursue adjacent growth opportunities and accelerate shareholder returns.
Solaris Oilfield Infrastructure (NYSE: SOI) announced a $200 million agreement to acquire Mobile Energy Rentals (MER), involving $60 million in cash and 16.5 million Solaris Class B shares. Post-acquisition, MER's founders will own 27% of Solaris. The transaction will diversify Solaris' portfolio, emphasizing distributed power infrastructure, expected to comprise over 50% of its business. MER's EBITDA is projected at $50 million annually by Q3 2024, with plans to expand its power generation capacity from 153 MW to 478 MW by Q3 2025 with $308 million investment in turbines. Solaris will finance the acquisition through debt and cash flow, supported by a $300 million loan facility. The transaction is expected to close by Q3 2024, subject to regulatory approvals. Concurrently, Solaris will rename itself Solaris Energy Infrastructure (NYSE: SEI). Preliminary Q2 2024 financials estimate revenue between $70-75 million and Adjusted EBITDA at $20-21 million.