Posts Tagged ‘APR Energy plc’

APR Energy Shareholders Approve Consortium Acquisition, Privatization

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JACKSONVILLE, Florida, Jan. 7, 2016 /PRNewswire-HISPANIC PR WIRE/ — APR Energy plc (the “Company”) (LSE: APR), a global leader in fast-track power solutions, announces today that an offer by a consortium of investors (the “Consortium”) to acquire the Company was declared unconditionally successful on 5 January. The Consortium comprises Fairfax Financial Holdings Limited, ACON Equity Management and Albright Capital Management, and brings substantial financial backing to support the Company’s business initiatives, including committing more than $200 million in fresh equity capital to reduce debt and increase working capital.

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“This is a significant milestone in the evolution of APR Energy,” said Executive Chairman John Campion. “We are pleased to be working alongside a group that truly understands our business and our market – and that shares our longer-term vision. Our new investors bring significant strategic value to our business, including global relationships, a sophisticated understanding of international finance and extensive experience investing in global power markets. Their significant investment reflects a strong belief in our business, our market and our management team, and we expect them to be great partners as we grow the Company and continue to serve our expanding base of global customers.

“This transaction clearly makes us stronger, and will pay down debt, increase working capital and enable us to approach the longer term with renewed confidence.”

Chief Executive Officer Laurence Anderson said, “With these new partners, we will have greater flexibility to manage through the short-term variations in our business cycle while staying focused on our longer-term growth objectives. We also will have access to additional capital to fund growth initiatives.”

Anderson said that during the transition process, and afterward, “Our customers, partners and suppliers can expect us to continue to build upon our already high level of customer service, driving operational excellence and delivering reliable, essential electricity around the world.”

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: For more information contact: Alan Chapple (Media), Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com

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APR Energy Signs Six-Month Contract Extension for Guatemala Mining Project

JACKSONVILLE, Fla., July 15, 2015 /PRNewswire/ — APR Energy plc (LSE: APR), a global leader in fast-track power solutions, today announces that it has signed an extension for its 16MW power project supporting a mining customer in Guatemala. APR Energy’s mobile diesel generators have served as the sole power source for the crucial operations of the mine, which operates independently from the local grid system. The project, which began in January 2013, now is contracted to run into the first quarter of 2016.

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“We are pleased that the customer has again extended our contract. It is a testament to our ability to safely deliver the reliable power needed by energy-intensive operations such as mining,” said Tom Caldwell, Managing Director of APR Energy’s Americas region.

“Extractive industries typically require round-the-clock power with variable load savings, and this project is one of a growing list of successful solutions that we have provided to mining companies and other industrial facilities around the world,” Caldwell added.

APR Energy’s power solutions for extractive and other industrial companies also have included a 2011 project in Mozambique with Vale, the second largest commercial mining company in the world; one for a copper mine in northwest Botswana in 2012; and an ongoing project for a mining company in the South Pacific.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power. Our fast, flexible and full-service power solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: Alan Chapple (Media), Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com, Press Photo Gallery: http://www.aprenergy.com/press-photo-gallery, Lee Munro (Investors), Phone: +1 (904) 404-4576, Manisha Patel (Investors), Phone: +1 904 517 5135, Email: investorrelations@aprenergy.com

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APR Energy Renews 25MW Power Contract in the U.S. Virgin Islands

Two-year contract extension adds to record renewals

JACKSONVILLE, Fla., Dec. 16, 2014 /PRNewswire/ – APR Energy plc (LSE: APR), a global leader in fast-track power solutions, today announces that it has signed a two-year extension for its 25MW contract in the U.S. Virgin Islands, to run through late Q4 of 2016. The extension adds to APR Energy’s record number of renewals for the year, driving a success rate of over 90%.

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APR Energy assumed the contract with the U.S. Virgin Islands Water and Power Authority (WAPA) as part of its acquisition of GE’s power rental business in October 2013. The Group provides a turnkey bridging power solution to WAPA, supporting the utility’s strategic system improvements as it converts to liquefied propane gas (LPG), a lower cost fuel alternative. The GE TM2500 turbine provided by APR Energy gives WAPA additional fuel flexibility, including the ability to operate on the cheaper LPG fuel.

Tom Caldwell, APR Energy Managing Director, Americas, stated, “We are very excited that our bridging solution continues to play a key part of WAPA’s long-term plans as it makes its system-wide improvements. APR Energy appreciates the opportunity to continue our strong relationship with WAPA and are proud to support its efforts in providing lower cost solutions for the island’s ratepayers through our highly-efficient, mobile turbine technology.”

About APR Energy
APR Energy is a global leader in large-scale, fast-track power solutions, providing customers with rapid access to reliable electricity when and where they need it. APR combines state-of-the-art, fuel-efficient technology with industry-leading expertise to provide turnkey power plants that are rapidly deployed, customizable, and scalable. Serving both utility and industrial segments, APR Energy provides power generation solutions to customers and communities around the world, with an emphasis on Africa, the Americas, Asia-Pacific and the Middle East. For more information, visit the Company’s website at www.aprenergy.com.

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CONTACT: APR Communications, Direct Phone: +1 (904) 223-2277, Email: publicrelations@aprenergy.com

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