This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Electric Technologies To Provide Power Delivery Solutions For 65MW Peaking Power Plant In Alberta

HOUSTON, July 10, 2013 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that it has been selected by a leading provider of power generation equipment to provide an integrated electrical protection and controls solution for the power generation, distribution and control of a new 65MW peaking power plant in Alberta, Canada. The name of the client and terms of the contract were not disclosed, but AETI expects to ship the power distribution control systems in the third quarter of 2013.

The 10 generator sets onsite at the Alberta plant utilize natural gas to generate 65MW of clean power. AETI was awarded the contract due to their ability to integrate turnkey power systems with the selected generator specific features, the company's strong utility grid-tie experience, and proven proficiency in Canadian standards to ensure on-time delivery.

AETI's power distribution and control systems will provide generator synchronization, fault protection, and management of power to run the plant and integrate with the grid. Additionally, all operations can be performed locally, from the common control and SCADA panel, or remotely from an existing main control room.

"AETI is very pleased to have been selected to provide power delivery systems that will assist with the 65MW peaking plant," said Charles Dauber, President and CEO, AETI. "This project is a good example of our growing success in the natural gas-based distributed power generation segment of the global energy industry."

American Electric Technologies, Inc. (AETI) is a leading provider of power delivery solutions to the global energy industry. AETI offers M&I Electricâ„¢ power distribution and control products, electrical services, and E&I Construction services, as well as American Access Technologies zone enclosures, and Omega Metals custom fabrication 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 sales, support and manufacturing operations in Beaumont, Texas, Keystone Heights, Florida and Bay St. Louis, Mississippi. In addition, AETI has minority interests in three joint ventures in Xian, China, Singapore and Macae, Brazil. AETI's SEC filings, news and product/service information are available at www.aeti.com .

Forward-Looking Statements

This press release contains forward-looking statements, as defined in Section 27A of the Securities Exchange Act of 1934, concerning anticipated future demand for our products, international expansion, and other future plans and objectives. While the Company believes that such forward-looking statements are based on reasonable assumptions, there can be no assurance that such future revenues, profits, plans and objectives will be achieved on the schedule or in the amounts indicated. Investors are cautioned that these forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, and are subject to various risks and uncertainties, including those listed in Item 1A of the Form 10-K filed with the Securities and Exchange Commission on March 28, 2013. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.
CONTACT: Media Contacts:
         Ward Creative Communications for
         American Electric Technologies, Inc.
         Molly LeCronier or Roxanna Salas
         mlecronier@wardcc.com or rsalas@wardcc.com
         713-869-0707
         
         Investor Contacts:
         Andrew L. Puhala
         713-644-8182
         investorrelations@aeti.com
         American Electric Technologies, Inc.
         713-644-8182

American Electric Technologies, Inc. Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs