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M&I Electric announces power system award for New England LNG project

HOUSTON, Oct. 31, 2016 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that its M&I Electric business has been selected to provide a turnkey power delivery solution for a new Liquefied Natural Gas (LNG) liquefaction plant under construction.

This new natural gas liquefaction facility plays an important role in providing mission critical fuel supplies during high-demand periods in New England, especially during peak usage months. Additionally, this installation gives the grid operator another domestic LNG source, further reducing the region’s reliance on oversea suppliers.

M&I Electric received the contract award from a leading engineering, procurement and construction (EPC) firm for this LNG plant. The M&I Electric turnkey solution includes custom-designed low and medium voltage power distribution switchgear and low and medium voltage motor control centers, all deployed within M&I’s custom-built, climate-controlled Power Distribution Centers (PDCs).

This project award represents M&I Electric’s second order from this major EPC firm, which selected M&I Electric due to the company’s ability to provide a high-quality, optimized, turnkey solution.

"We are very pleased to have been selected to provide power delivery systems to facilitate operations at this new LNG plant," said Charles Dauber, President and CEO, AETI. "This project exemplifies our mission of Empowering EnergyTM and we are encouraged that we have received repeat orders from our EPC customers for their critical projects.”

Terms of the contract were not disclosed.

About AETI:

American Electric Technologies, Inc. (NASDAQ:AETI) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services. AETI is headquartered in Houston and has global operations in Beaumont, Texas; Rio de Janeiro and Macae, Brazil. In addition, AETI has minority interests in two joint ventures, which have facilities located in Xian, China and Singapore. AETI’s SEC filings, news and product/service information are available at www.aeti.com.

Contact: Bill Brod Sr. Vice President & Chief Financial Officer 713-644-8182

Source:American Electric Technologies, Inc.