Stabilis Solutions To Become Major Supplier of High-Purity Rocket Propellant to Commercial Space Industry
HOUSTON, TX / ACCESSWIRE / April 3, 2024 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean energy production, storage, and delivery solutions, today provided a business update highlighting expectations for increased, multi-year demand growth for high-purity LNG fuel from the commercial space launch market.
AEROSPACE MARKET OPPORTUNITY
- U.S. rapidly becoming the global leader in commercial rocket launch activity. Demand for next generation connectivity and observational capabilities has contributed to a historic increase in U.S. commercial rocket launch activity. Over the last 10 years, the number of U.S. launches has increased by more than 400%, while accounting for more than 50% of total global launches in 2023. U.S. led demand for high-purity LNG continues to grow as a preferred fuel for commercial rockets, allowing for quicker turnaround of reusable boosters, improved engine efficiency and thrust, and ease of storage.
- Stabilis is positioned to remain the largest supplier of next generation fuel to the domestic space economy. In 2024, the Company anticipates its aerospace market-related volumes will increase by more than 40% over the prior year, representing approximately 10% of its full-year sales volumes. Over the next five years, domestic demand for high-purity LNG is expected to increase by 65% to approximately 25 million gallons annually. Stabilis estimates that it is among the largest suppliers of high-purity LNG to space launch providers in the U.S., currently supplying approximately 40% of the market, with the potential to significantly increase its market share subject to future investments in liquefaction capacity.
MANAGEMENT COMMENTARY
"Stabilis continues to build a leading clean fueling solutions platform unlike any other within the United States, one that provides turnkey production, storage, transportation and fueling solutions for many of the world's most recognized, high-performance brands," stated Westy Ballard, President and CEO of Stabilis. "Our strong backlog of contracted aerospace volumes further positions Stabilis as the high-purity LNG provider of choice to the world's most innovative and advanced space exploration companies. We look forward to supporting our growing portfolio of leading commercial space customers during their next chapter of growth and discovery."
ABOUT STABILIS SOLUTIONS
Stabilis Solutions (NASDAQ:SLNG) is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com .
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipates," "expects," "estimates," "could," "will," "plan," "may," "should," "predicts," "potential," "outlook" and similar expressions are intended to identify such forward-looking statements.
Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.
The foregoing list of factors is not exclusive. Additional information concerning these, and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2024 which is available on the SEC's website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.
CORPORATE CONTACT
Andrew Puhala
Chief Financial Officer
[email protected]
SOURCE: Stabilis Solutions
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