Liberty Energy Inc. (NYSE:LBRT, "Liberty" or the "Company")) announced today the acquisition of IMG Energy Solutions ("IMG"), a leading developer of distributed power systems. IMG brings integrated capabilities across engineering design and development, construction management, enhanced software and monitoring systems, and operations and marketing. The acquisition strengthens Liberty Power Innovation's ("LPI") power solutions offering by incorporating IMG's advanced engineering designs, software control systems, utility interconnection experience (PJM), and power marketing expertise.
IMG's cutting-edge modular power product design enables rapid deployment for microgrids, uniquely positioned to meet resiliency expectations for data centers and other applications. With over a decade of proven power system deployment and operations experience, the company's 4th generation design expands on previous successes, offering a high reliability, scalable, standardized power block configuration. As a pre-engineered, pre-tested product solution, this self-contained modular power block design requires minimal balance of plant equipment and provides quick adaptation to site-specific requirements without extensive re-engineering and reconfiguration. This ensures scheduled completion, optimized life cycle economics, and rapid deployment across a wide variety of customers and applications.
IMG's cloud-based centralized operations platform for remote monitoring and control includes systems integration, automation, instrumentation and electrical design. The network operating center enables 24/7 power dispatch, remote monitoring and asset management, ensuring optimal plant performance and long-term reliability. IMG's rigorous safety culture and unwavering commitment to environmental compliance have resulted in zero environmental penalties and a 100% compliance record across its operational portfolio.
"The acquisition of IMG cultivates bench strength across LPI, representing a significant step forward. It accelerates our engineering design and construction capabilities, augments our systems controls, and enables the immediate participation in PJM market activities," said Ron Gusek, Chief Executive Officer of Liberty. "By bringing IMG into the Liberty family, LPI is well positioned to deliver low emissions, capital efficient energy solutions with a fully integrated power solution across the value chain."
Since 2011, IMG has established a proven track record of delivering reliable energy solutions for critical infrastructure projects. The company's 3rd generation product solution has been successfully powering a reliable and resilient independent microgrid at Pittsburgh International Airport (PIT). In addition, the company currently owns a utility-scale solar array at PIT and operates both the solar and natural gas thermal facilities, ensuring 100% onsite power under a long-term service agreement.
In December 2023, IMG successfully completed the sale of six 21 MW (127 MW) natural gas power plants in Northeast Pennsylvania to Tenaska. The divested facilities featured advanced gas reciprocating engine technology, designed for fast-start flexibility and high reliability in the PJM market. The sale further highlights IMG's ability to execute high-quality power projects, reinforcing its industry expertise.
"The IMG team is excited to join forces with Liberty, which has a long history of successful deployment of capital into the energy space with innovative, world class customer-centric product solutions. We look forward to leveraging our collective experiences to further the successes of our customers," said Mike Brady, Chief Executive Officer of IMG.
FTI Capital Advisors, LLC, served as the financial advisor to IMG Energy Services.
About Liberty
Liberty Energy Inc. (NYSE:LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at [email protected].
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Michael Stock
Chief Financial Officer
Anjali Voria, CFA
Director of Investor Relations
303-515-2851
[email protected]