Gemma to proceed with EPC contract for natural gas-fired plant in Texas
Gemma signed the EPC contract with Sandow Lakes Energy Company (SLEC) in February 2025.
The plant will power 800,000 homes upon completion.
Construction of the project, now part of Argan's backlog, will commence in summer 2025 with an expected completion date in 2028.
The initiative follows SLEC's announcement in March 2025 that it was to construct the power plant, which will be developed and owned by a SLEC subsidiary and will operate within the Electric Reliability Council of Texas.
Gemma CEO Charles E Collins IV stated: "We're thrilled to move forward with SLEC on this major power project. Their strong development efforts set the stage for success, and we look forward to working together. Expanding power infrastructure is essential to meeting rising energy demands, and our team is dedicated to delivering exceptional results."
The combined cycle power station will feature two Siemens Energy SGT6-9000HL gas turbines, claimed to provide high power output and fuel efficiency.
These turbines can operate on hydrogen with only minor modifications, aligning with decarbonisation goals.
The combined cycle power station will be located close to the Matterhorn natural gas pipeline.
SLEC, formed to develop and invest in energy projects in Texas, aims to meet the state's escalating electricity demand.
Gemma is an EPC services provider with experience comprising 15GW of installed capacity across natural gas power generating plants, biomass-fired power plants, solar facilities, wind farms, biofuel plants and other environmental facilities.
Argan's primary business focus is on providing construction and related services to the power industry.
"Gemma to proceed with EPC contract for natural gas-fired plant in Texas" was originally created and published by Power Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Business Upturn
16 hours ago
- Business Upturn
Xcel Brands and TSC Product Lab Partner to Launch GemmaMade by Gemma Stafford, a New Kitchen Brand for Everyday Bakers and Home Cooks
NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB), a media and consumer products company known for building influential, creator-led brands, today announced a strategic partnership with TSC Product Lab to launch GemmaMade by Gemma Stafford—a new kitchenware brand created in close collaboration with chef and baking expert Gemma Stafford, designed to bring stylish, functional, and approachable tools to everyday bakers and home cooks. This collaboration blends Xcel's omnichannel brand-building capabilities with TSC Product Lab's innovation-driven product development, delivering a thoughtfully designed assortment of kitchen products that reflect Stafford's personal passion for joyful, stress-free cooking and baking at home. The product line will include bakeware, kitchen tools, food storage solutions, mixing bowls, and more—each created to support everyday needs with ease, charm, and reliability. 'GemmaMade is a celebration of the home kitchen,' said Robert W. 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Business Wire
6 days ago
- Business Wire
NextDecade Provides Second Quarter 2025 Business Update
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'In April, we completed the commercialization of Train 4 with the announcement of 20-year LNG sale and purchase agreements (SPAs) with Aramco and TotalEnergies, which join ADNOC as the long-term customers supporting Train 4. In May, we announced a 2 million tonnes per annum (MTPA), 20-year LNG SPA with JERA, marking the first long-term SPA for Train 5 and serving as a testament to the strong demand we continue to see for offtake from the Rio Grande LNG Facility.' 'We are progressing the financing process for Train 4 and, subject to finalizing adequate financing, we expect to achieve a positive FID on Train 4 by mid-September 2025.' 'We continue to work on contracting an additional 2.5 MTPA under long-term SPAs to support a positive FID on Train 5. We have started the financing process for Train 5 and, subject to obtaining appropriate commercial support and financing, we are targeting FID of Train 5 in mid-September 2025.' Significant Recent Developments Construction Under the EPC contracts with Bechtel Energy Inc. (Bechtel), Phase 1 progress is tracked for Train 1, Train 2, and the common facilities on a combined basis and Train 3 on a separate basis. As of June 2025: The overall project completion percentage for Trains 1 and 2 and the common facilities of the Rio Grande LNG Facility was 48.3%, which is in line with the schedule under the EPC contract. Within this project completion percentage, engineering was 91.9% complete, procurement was 80.6% complete, and construction was 21.2% complete. The overall project completion percentage for Train 3 of the Rio Grande LNG Facility was 22.7%, which is also in line with the schedule under the EPC contract. Within this project completion percentage, engineering was 55.7% complete, procurement was 45.5% complete, and construction was 2.2% complete. Strategic and Commercial In April 2025, the Company announced a 20-year LNG SPA with a subsidiary of Saudi Aramco (Aramco), pursuant to which the Aramco subsidiary will purchase 1.2 MTPA of LNG from Train 4 at the Rio Grande LNG Facility for 20 years, on a free on board (FOB) basis at a price indexed to Henry Hub, subject to a positive FID on Train 4. In April 2025, the Company announced that TotalEnergies exercised its LNG purchase option with respect to Train 4 and the Company entered into a 20-year LNG SPA with TotalEnergies, pursuant to which TotalEnergies will purchase 1.5 MTPA of LNG from Train 4 at the Rio Grande LNG Facility for 20 years, on an FOB basis at a price indexed to Henry Hub, subject to a positive FID on Train 4. The Company believes sufficient long-term commercial agreements are now in place to support a positive FID on Train 4. 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Financial In April 2025, Rio Grande LNG, LLC elected to terminate $250 million of commitments under its working capital facility due to a decrease in expected requirements for credit support during construction, which reduced the outstanding commitments under the working capital facility to $250 million and is expected to reduce related commitment fees by approximately $2 million annually. In May 2025, the Company's wholly-owned subsidiary, Rio Grande LNG Super Holdings, LLC, entered into an amended credit agreement with the lender of its existing senior secured loan to increase the loan amount by $50 million to a total of $225 million initial principal. Incremental proceeds from the senior secured loan were disbursed at closing on May 14, 2025, and net proceeds will be used to fund working capital and general corporate purposes, including development expenses for expansion trains at the Rio Grande LNG Facility and specifically pre-FID expenses for Trains 4 and 5. Borrowings under the senior secured loan bear interest at 12.0%, with interest payable quarterly. Interest may be paid in-kind until March 31, 2027 and up to 50% in-kind thereafter. The senior secured loan matures December 31, 2030. In conjunction with the closing of the May 2025 amendment to the senior secured loan, the Company issued warrants that are exercisable for an aggregate of approximately 2.0 million shares of NextDecade common stock to the lender of the senior secured loan. The warrants are exercisable for five years after the amendment date. The warrants are exercisable at $9.30 per share, which represented a 30% premium to the volume weighted average price for the 30 trading-day period immediately preceding the amendment date. Regulatory In July 2025, FERC issued a final SEIS for the first five liquefaction trains at the Rio Grande LNG Facility. Based on its published schedule, FERC anticipates issuing a final order on the remand by November 20, 2025. Rio Grande LNG Facility NextDecade is constructing and developing the Rio Grande LNG Facility on the north shore of the Brownsville Ship Channel in south Texas. The site is located on approximately 1,000 acres of land, which has been leased long-term and includes 15,000 feet of frontage on the Brownsville Ship Channel. The Company believes the site is advantaged due to its proximity to abundant natural gas resources in the Permian Basin and Eagle Ford Shale, access to an uncongested waterway for vessel loading, and location in a region that has historically been subject to fewer and less severe weather events relative to other locations along the U.S. Gulf Coast. The Rio Grande LNG Facility has been permitted by the FERC and authorized by the DOE to export up to 27 MTPA of LNG. Phase 1 at the Rio Grande LNG Facility is under construction, Train 4 has been commercialized and is being progressed toward FID, Train 5 is being commercialized and progressed toward FID, and the Company is developing and beginning the permitting process for Trains 6 through 8. Phase 1 (Trains 1-3) Phase 1 at the Rio Grande LNG Facility is under construction. Phase 1 includes three liquefaction trains with a total expected LNG production capacity of approximately 18 MTPA, two 180,000 cubic meter full containment LNG storage tanks, and two jetty berthing structures designed to load LNG carriers up to 216,000 cubic meters in capacity. Phase 1 also includes associated site infrastructure and common facilities including feed gas pretreatment facilities, electric and water utilities, two totally enclosed ground flares for the LNG tanks and marine facilities, two ground flares for the liquefaction trains, roads, levees surrounding the development area, and warehouses, administrative, operations control room, and maintenance buildings. As of June 2025, progress on Trains 1 through 3 is in line with the schedule under the EPC contracts. During the second quarter 2025, the construction team continued piping fabrication, rebar installation, equipment setting and concrete placement, and structural steel erection in the areas of Trains 1, 2, and 3. The eighth wall lift was completed for Tank 1. Across the site, Bechtel also continued installing concrete foundations, instrument air receivers, floodgates, permanent fencing, temporary facilities, and other siteworks. NextDecade holds equity interests in the Phase 1 joint venture that entitle it to receive up to 20.8% of the distributions of available cash during operations. Final Investment Decision on Train 4 The Company has completed commercialization of Train 4 and has executed 20-year LNG SPAs totaling 4.6 MTPA of LNG with ADNOC, Aramco, and TotalEnergies in support of Train 4. In June 2025, the Company finalized an EPC contract pricing refresh with Bechtel for Train 4 and related infrastructure. Pricing validity under the EPC contract for Train 4 extends through September 15, 2025. The Company launched the financing process for Train 4 in June 2025 and expects to finance construction of Train 4 using a combination of debt and equity funding at the project level. The Company is in the process of entering into a term loan bank facility at Rio Grande LNG Train 4, LLC for the debt portion of the funding. The Company's Phase 1 equity partners each have options to invest in Train 4 equity which, if exercised, would provide 60% of the equity funding required for Train 4. The Company expects the Phase 1 equity partners to exercise their options to participate in Train 4 equity. NextDecade currently expects to fund 40% of the equity commitments for Train 4, and to have an initial economic interest of 40% in Train 4, which will increase to 60% after its equity partners achieve certain returns on their investments in Train 4. NextDecade is in the process of financing its equity capital for Train 4. The Company expects to achieve a positive FID on Train 4 by mid-September 2025, subject to obtaining adequate financing. Final Investment Decision on Train 5 The Company is also progressing Train 5 toward FID, and the commercialization process is underway for Train 5. In May 2025, the Company announced a 20-year LNG SPA with JERA for 2.0 MTPA of LNG in support of Train 5. The Company is targeting an additional 2.5 MTPA of long-term contracts to support a positive FID of Train 5. In June 2025, the Company finalized an EPC contract with Bechtel for Train 5 and related infrastructure. Pricing validity under the EPC contract for Train 5 extends through September 15, 2025. The Company began the financing process for Train 5 in the second quarter 2025 and expects to finance construction of Train 5 using a combination of debt and equity funding at the project level. The Company expects to enter into bank facilities at Rio Grande LNG Train 5, LLC for the debt portion of the funding. Certain of the Company's Phase 1 equity partners have options to invest in Train 5 equity, which if exercised, would provide 50% of the equity funding required for Train 5. Inclusive of these options, NextDecade currently expects to fund the balance of the equity commitments for Train 5, and to have an initial economic interest of up to 50% in Train 5, which will increase to up to 70% after its equity partners achieve certain returns on their investments in Train 5. The Company continues to pursue financing for Train 5 and, subject to obtaining appropriate commercial support and financing, is targeting FID by mid-September 2025. Development of Additional Liquefaction Capacity The Company is developing and beginning the permitting process for additional liquefaction capacity at the Rio Grande LNG Facility site beyond Trains 1 through 5. Trains 6 through 8 are wholly owned by NextDecade and are cumulatively expected to increase the Company's total liquefaction capacity by approximately 18 MTPA once constructed and placed into operation. Train 6 is being developed inside the existing levee at the Rio Grande LNG Facility site and adjacent to Trains 1 through 5. The Company expects to pre-file an application with FERC for Train 6 in 2025 and a full application with FERC in early 2026. The Company is evaluating multiple areas on the site for the development of Trains 7 and 8 and expects to provide an update on the expected permitting timeline for Trains 7 and 8 in 2025. Investor Presentation NextDecade has posted an updated investor presentation to its website concurrently with this release. A copy of this release and the investor presentation can be found on its website at About NextDecade Corporation NextDecade is committed to providing the world access to reliable, lower carbon energy. We are focused on delivering secure, low-cost, and sustainable energy solutions through the safe and efficient development and operation of natural gas liquefaction and carbon capture and storage infrastructure. Through our subsidiaries, we are developing and constructing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development. We are also developing a potential carbon capture and storage project at the facility that is expected to make meaningful impacts toward a lower carbon future. 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 Forward-Looking Statements This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words 'anticipate,' 'contemplate,' 'estimate,' 'expect,' 'project,' 'plan,' 'intend,' 'believe,' 'may,' 'might,' 'will,' 'would,' 'could,' 'should,' 'can have,' 'likely,' 'continue,' 'design,' 'assume,' 'budget,' 'guidance,' 'forecast,' and "target," and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade's periodic reports that are filed with and available from the Securities and Exchange Commission. The taking of a final investment decision on Trains 4 and 5 at the Rio Grande LNG Facility is subject to, among other things, maintaining requisite governmental approvals, entering into appropriate commercial arrangements, and obtaining adequate financing to construct each train and related infrastructure. Additionally, any development of additional expansion trains at the Rio Grande LNG Facility or CCS projects remains contingent upon receipt of requisite governmental approvals, execution of definitive commercial and financing agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
Yahoo
6 days ago
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Edgewell Personal Care Hits 20-Year Low: Time to Buy?
Are you familiar with any of these brands: Schick, Playtex, Hawaiian Tropic? They're all fairly well-known personal care brands owned by Edgewell Personal Care (EPC), a business created in July 2015, after it spun off its Energizer Holdings (ENR) subsidiary. On Tuesday, EPC stock just hit a 20-year low. It has lost nearly 22% in the past five days alone. Typically, on Wednesday, I'll discuss stocks hitting 52-week highs or lows. However, I couldn't resist taking a contrarian, value approach to today's commentary given the woeful state of Edgewell's business and share price. More News from Barchart Palantir's Free Cash Flow Margins and Forecasts Rise - Where This Leaves PLTR Stock Cathie Wood is Buying Figma Stock with Both Hands. Should You Buy This Hot IPO, Too? Can SoundHound's Q2 Results Send the Stock Soaring on August 7? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! If you've owned EPC stock over the past 20 years, you've been the victim of significant shareholder destruction. But don't feel bad, Energizer shareholders have also faced a similar fate. This is one example where one plus one does not equal three. That's not to say that aggressive investors shouldn't be sniffing around both stocks for potential value buys in a market that seems overheated. If you're risk-tolerant, here's why you might want to buy EPC stock. Edgewell Still Makes Money Most of the 22% decline in Edgewell's share price over the past week was inflicted yesterday after it reported woefully inadequate Q3 2025 results. Missing Wall Street expectations for both the top and bottom lines, it was the company's guidance for fiscal 2025 (September year-end) that really made investors sick to their stomachs. Here's what CEO Rod Little had to say about the third quarter: 'This was a challenging quarter, with our top and bottom-line performance falling below expectations, significantly impacted by very weak Sun Care seasons in North America and certain Latin American markets. Furthermore, the operating environment remains challenging with both tariffs and foreign exchange contributing to full-year profit headwinds,' StockStory reported Little's comments. I haven't looked closely at Edgewell's financials in recent years, but it's clear that this is a business that's struggled for some time. This report shouldn't come as a surprise to anyone who's followed its business closely. According to S&P Global Market Intelligence, over the past decade, Edgewell's revenues have ranged from a high of $2.61 billion in 2014 to a low of $1.95 billion in 2019. Generally, they've remained flat around $2.2 billion. Zero sales growth will erode investor confidence. Over the same decade, its EBITDA (earnings before interest, taxes, depreciation and amortization) margin has fallen from 18.5% in 2014 to 15.0% in 2024. Finally, the company expects its 2025 EBITDA profit to be $312 million, down from $338 million a year ago, and lower than the average analyst estimate of $335.5 million. Despite all of the doom and gloom, four of eight analysts still rate it a Buy (3.63 out of 5), with a target price of $31, over 50% higher than its current share price. My guess as to why analysts haven't completely thrown in the towel on EPC stock is that it still makes money. The company expects to generate earnings per share of $2.65 for the year. Based on this guidance, its shares trade at just 7.7 times its 2025 EPS. The S&P 500 forward P/E is 22.3x, and the S&P 500 Consumer Staples forward P/E is 21.6x. By either valuation multiple, EPC is dirt cheap. Is There a Buyer in the Wings? One would think that Edgewell would be a desirable target for private equity investors. Its stock is cheap, it has several brands with name recognition, and while its $1.2 billion in net debt is higher than its current market cap, the fact that it remains cash flow positive means that with a bit of tweaking and perhaps selling off some of its lesser brands, it could be acquired with significant leverage, something that becomes more doable as interest rates fall. Consider this. EPC stock hit an all-time high of $107.37 on May 1, 2015. In fiscal 2015, it had $2.42 billion in revenue and an EBITDA profit of $426 million, an EBITDA margin of 17.6%, about 410 basis points higher than in the trailing 12 months ended June 30. Care to guess what its forward P/E was in May 2015? It was 20.2x, almost three times higher than its current multiple. At the same time, its net debt was $1.0 billion, $200 million less than it is today. I'm not suggesting that EPC stock should trade anywhere near a multiple of 20x earnings. However, suppose you're a private equity investor. In that case, the idea of buying a company for 10 times earnings (a 25% premium from today) and selling down the road for 20 times earnings should be worthy of consideration. Will it happen? I have no idea, but it's another reason why bottom feeders should be interested in taking a flyer on Edgewell. The Options Play to Lower Risk Yesterday's options volume for Edgewell was the highest it's been in the past three months. Unfortunately, it doesn't trade much. The 30-day average is just 29 contracts. Yesterday's volume was 13 times that amount. Looking as far out as possible, there was a trade yesterday for three contracts on the Feb. 20/2026 $25 call. The ask price of $0.70 is just 2.8% of the $25 strike price. Instead of spending $2,029 on 100 shares, buy a $25 call for $70. It will cost you more to go to the movies. Of course, getting one of these bad boys is easier said than done, given the lack of volume, but it's a low-risk way to bet on a stock that's been lost in the wilderness for a very long time. On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
