NextDecade Corporation (NextDecade or the Company) (NASDAQ:
NEXT) announced today that it has agreed to sell $5.0 million of
Series C Convertible Preferred Stock (Series C Preferred Stock).
The Series C Preferred Stock is being issued in a private placement
to TEP Next Decade, LLC, an affiliate of Energy & Power
Transition Partners, LLC (EPTP).
EPTP is a private equity fund whose goal is to catalyze cleaner,
smarter energy and digital industries through investments that
drive meaningful value for both its investors and the environment
alike. NextDecade’s focus on green LNG and carbon capture and
storage fit firmly within EPTP’s transitional energy investment
strategy.
“NextDecade is pleased to welcome Energy & Power Transition
Partners as an investor,” said Matt Schatzman, NextDecade’s
Chairman and Chief Executive Officer. “We share EPTP’s vision of
making North America’s power and energy systems more sustainable
and through NextDecade’s wholly-owned subsidiary, NEXT Carbon
Solutions, we are helping lead the way by reducing the costs of
carbon capture and storage projects.”
“The investment in NextDecade is consistent with EPTP’s mission,
which is to provide society with carbon neutral solutions for the
delivery of reliable energy resources,” said Pat Eilers, EPTP’s
Founder and Managing Partner. “NextDecade is the global pioneer in
green LNG as a result of the unique combination of its NEXT Carbon
Solutions business with its low-cost Rio Grande LNG project. EPTP
is thrilled to support NextDecade as it commercializes its
differentiated energy solutions.”
The offer and sale of the Series C Preferred Stock has not been,
and will not be, registered under the Securities Act of 1933
(Securities Act), or any other securities laws, and the Series C
Preferred Stock cannot be offered or sold except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any other
applicable securities laws. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any state or jurisdiction
in which such offer, solicitation or sale of these securities would
be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About NextDecade Corporation
NextDecade Corporation is a clean energy company accelerating
the path to a net-zero future. Leading innovation in greener LNG
and carbon capture solutions, NextDecade is committed to providing
the world access to cleaner energy. Through our wholly owned
subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are
developing a 27 mtpa LNG export facility in South Texas along with
one of the largest carbon capture and storage projects in North
America. We are also working with third-party customers around the
world to deploy our proprietary processes to lower the cost of
carbon capture and storage and reduce CO2 emissions at their
industrial-scale facilities.
NextDecade’s common stock is listed on the Nasdaq Stock Market
under the symbol “NEXT.” NextDecade is headquartered in Houston,
Texas. For more information, please visit www.next-decade.com.
About Energy & Power Transition Partners
Energy & Power Transition Partners, LLC (EPTP), founded in
2020 by Pat Eilers, is a private equity firm with a strategic
investment focus in renewable energy, energy & digital
technology and transitional energy. These investment opportunities
facilitate the ongoing transition to a cleaner, lower-emission
energy sector. EPTP leadership has been at the forefront of the
energy transition for the past 20+ years, and strives to continue
to pioneer our core sectors through an experienced and proven team
of investment professionals. Starting September 1, EPTP will
operate as Transition Equity Partners (TEP).
NextDecade Forward-Looking Information
This press release contains certain statements that are, or may
be deemed to be, “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact contained in
this presentation, including statements regarding the future
results of operations and financial position of NEXTDecade
Corporation and its subsidiaries (collectively, the “Company”), its
strategy and plans, and its expectations for future operations, are
forward-looking statements. The words “anticipate,” “contemplate,”
“estimate,” “expect,” “project,” “plan,” “intend,” “believe,”
“may,” “might,” “will,” “would,” “could,” “should,” “can have,”
“likely,” “continue,” “design” and other words and terms of similar
expressions, are intended to identify forward-looking
statements.
The Company has based these forward-looking statements largely
on its current expectations and projections about future events and
trends that it believes may affect its financial condition, results
of operations, strategy, short-term and long-term business
operations and objectives and financial needs. Although the Company
believes that the expectations reflected in its forward-looking
statements are reasonable, actual results could differ from those
expressed in its forward-looking statements. The Company’s future
financial position and results of operations as well as any
forward-looking statements are subject to change and inherent risks
and uncertainties. You should consider the Company’s
forward-looking statements in light of a number of factors that may
cause actual results to vary from its forward-looking statements
regarding general business activities or its liquefied natural gas
(“LNG”) and carbon capture, utilization, and storage (“CCUS”)
business lines including, but not limited to: progress and timing
in the development of and final investment decision (“FID”) in the
construction and operation of a LNG terminal at the Port of
Brownsville in southern Texas (the “Terminal”); the successful
completion of the Terminal by third-party contractors and a
pipeline to supply gas to the Terminal being developed by a
third-party (the “Pipeline”); the Company’s ability to develop its
CCUS business line through deployment and operation of carbon
capture and storage (“CCS”) processes that capture and store carbon
dioxide (“CO2”) emissions at third-party facilities and at the
Terminal (the “CCS project”); the accuracy of estimated costs for
the Terminal, the CCS project, and implementation of the CCS
processes at third-party facilities; statements that the Terminal,
the CCS project, and the CCS processes, when completed or
implemented, will have certain characteristics, including amounts
of liquefaction capacities or amount of CO2 captured and stored;
the development risks, operational hazards, and regulatory
approvals applicable to the Company’s LNG and CCUS development,
construction, and operations activities; the global demand for and
price of LNG; the availability of LNG vessels worldwide; changes in
legislation and regulations relating to the LNG and CCUS
industries, including environmental laws and regulations that
impose significant compliance costs and liabilities; lack of broad
implementation of carbon pricing regimes aimed at reducing
greenhouse gas emissions that reasonably price emission costs;
global development and maturation of emissions reduction
credit/offset markets; adverse changes to existing and planned CCUS
tax incentive regimes; global pandemics, including the 2019 novel
coronavirus pandemic, and their impact on the Company’s business
and operating results, including any disruptions in the Company’s
operations or development activities and the health and safety of
the Company’s employees, and on the Company’s customers, the global
economy, the demand for LNG, and number and scale of implemented
CCS projects; risks related to doing business in and having
counterparties in foreign countries; technological innovation which
may lessen the Company’s anticipated competitive advantages; the
Company’s ability to secure additional corporate and/or project
debt and equity financing in the future at levels required to
execute its business plans; the Company’s ability to maintain the
listing of its securities on a securities exchange or quotation
medium; changes adversely affecting the business in which the
Company is engaged; management of growth; general economic
conditions; the Company’s ability to generate cash; compliance with
environmental laws and regulations; and the result of future
financing efforts and applications for customary tax
incentives.
Additional factors that you should consider are set forth in
detail in the “Risk Factors” section of the Company's most recent
Annual Report on Form 10-K as well as other filings the Company has
made and will make with the Securities and Exchange Commission
which, after their filing, can be found on the Company’s website,
www.next-decade.com.
Should one or more of the foregoing risks or uncertainties
materialize in a way that negatively impacts the Company, or should
its underlying assumptions prove incorrect, its actual results may
vary materially from those anticipated in its forward-looking
statements and, its business, financial condition and results of
operations could be materially and adversely affected. You should
not rely upon forward-looking statements as predictions of future
events. In addition, neither the Company nor any other person
assumes responsibility for the accuracy and completeness of any of
these forward-looking statements. The Company cautions readers that
the information contained in this presentation is only current as
of the date of this presentation and, therefore, except as required
by applicable law, the Company does not undertake any obligation to
publicly correct or update any forward-looking statement.
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IR@next-decade.com communications@next-decade.com
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