|
New York & Rio De Janeiro - March 17, 2026 New Fortress Energy Inc. (NASDAQ: NFE) ("NFE") today announced it will separate its Brazilian operations into an independent, standalone energy platform ("BrazilCo" or "the Company") as part of NFE's broader recapitalization transaction (the "Transaction") to be implemented via consensual UK Restructuring Plan ("UK RP"). This separation is expected to position BrazilCo for continued growth while strengthening Brazil's energy infrastructure and security. Following the closing of transaction, the newly independent Brazilian entity, headquartered in Rio de Janeiro, will be owned by a consortium of leading global institutional investors with deep expertise in infrastructure development and long-term value creation, extensive experience investing across Brazilian asset classes and over $20 trillion in assets under management. The new ownership group is committed to supporting the Company with a strong, well-capitalized balance sheet designed to enable disciplined growth, operational resilience, and long-term value creation. The Company will continue to be led by Brazil-based executives Leandro Cunha and Jeremy Dawson, each of whom brings decades of experience as energy operators. Their continued leadership will help to ensure smooth execution and completion of existing projects in Barcarena, while positioning the business for expansion across southern Brazil utilizing the Company's TGS Terminal in Santa Catarina. With the support of the Company's new shareholders, Leandro and Jeremy will work to maintain strong existing relationships with local stakeholders, customers, investors, contractors, and regulatory counterparties. Driving Brazil's Energy Future As an independent platform, the Company will be well positioned to address Brazil's growing energy demand and the country's increasing focus on reliable, secure and flexible energy solutions. The Company's key strategic priorities and assets include: • Standalone Gas and Vessel Supply: Securing standalone gas supply and vessel support remains a top priority for BrazilCo with a process underway to fulfil these needs in the coming months. BrazilCo will maintain existing gas supply from NFE through the pendency of the UK RP. • Barcarena Cluster: Advancing and completing the development of the 624 MW CELBA 2 and 1.6 GW PortoCem power plants, supplied by the 5.9 MTPA Barcarena terminal, to bring critical energy infrastructure online • TGS Terminal: Advancing and realizing the potential of the Terminal de Gás Sul (TGS) opportunity in Santa Catarina including participation in expected LRCAP capacity auctions in March 2026. TGS is a cornerstone infrastructure asset for southern Brazil, providing critical and flexible access to natural gas for power generation in a region with limited alternative gas supply options. This critical asset provides opportunity to further enhance economic development beyond opportunity via the LRCAP capacity auctions as BrazilCo continues to pursue supply opportunities with industrial partners in line with the Company's successful strategy in Barcarena. Together, the Barcarena and TGS projects are expected to drive meaningful economic development and employment growth, creating opportunities for hundreds of direct construction jobs and thousands of indirect employment opportunities across engineering, operations, and support services. This separation will occur at a corporate level above the Brazil structure and will not affect the underlying business or day-to-day operations in Brazil. BrazilCo remains committed to working with local suppliers, contractors, and communities to maximize local economic benefits and development. "This new chapter marks an important milestone for our business in Brazil," said Leandro Cunha, Managing Director of BrazilCo. "With a strong portfolio of strategic infrastructure assets and projects under development, we believe the Company is well positioned to continue delivering reliable and flexible energy solutions to support Brazil's growth. The strength and commitment of our new shareholder group, combined with their deep experience in delivering infrastructure assets, further reinforces our ability to execute on our projects and capture the significant opportunities ahead." The transaction is expected to close in mid-2026, subject to customary conditions and regulatory approvals. About BrazilCo Following the separation, the Brazilian entity will operate as an independent energy infrastructure platform focused on liquefied natural gas (LNG) importation, regasification, and power generation. With strategic assets in Barcarena and Santa Catarina and a strong and well-capitalized financial foundation, the Company is committed to delivering reliable, cleaner energy solutions that support Brazilian industry and economic growth. New Fortress Energy Inc. - press release 
|
