SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Instagram Outage Disrupts Thousands of U.S. Users 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
HOUSTON, Jan. 06, 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 recently been selected to provide a turnkey power delivery solution for a new US based 700-MW natural gas-fired, combined-cycle power generation facility.
M&I Electric received the $7 million contract from a leading engineering, procurement and construction (EPC) firm for this green-field power generation facility which will provide clean and reliable base load power generated by two natural gas turbines and one steam turbine.
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 first order from this major EPC firm, which selected M&I Electric due to the company’s ability to provide customized and integrated PDCs within a short-cycle delivery time.
"We are very pleased to have been selected to provide power delivery systems to enable this new power generation facility," said Charles Dauber, President and CEO, AETI. "This project exemplifies our mission of Empowering EnergyTM and shows progress in our growth strategy of working with owners and EPC firms within the power generation segment of the global energy industry."
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. South Coast Electric Systems L.L.C., a subsidiary, services Gulf Coast marine and vessel customers.
AETI is headquartered in Houston and has global operations in Beaumont, Texas; Bay St. Louis, Mississippi, and 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: Mark Haubert Sr. Vice President of Sales & Marketing 713-644-8182
