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 Electric™ 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 email@example.com or firstname.lastname@example.org 713-869-0707 Investor Contacts: Andrew L. Puhala 713-644-8182 email@example.com American Electric Technologies, Inc. 713-644-8182
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts