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Argan, Inc.'s Gemma Power Systems Receives Notice to Proceed on EPC Contract for a 1.2 GW Power Project in Texas

1. Gemma Power Systems confirmed a 1.2 GW EPC contract with SLEC. 2. This project expands Argan's backlog, boosting future revenues.

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FAQ

Why Bullish?

The substantial EPC contract enhances AGX's revenue potential, supported by historical growth in project backlog.

How important is it?

The contract is significant for AGX's growth, reflecting strong operational capacity and market trust.

Why Long Term?

The revenue from the backlog increases AGX’s stability over time, similar to prior successful projects.

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FLRBENFG
ARLINGTON, Va.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announces that its wholly owned subsidiary, Gemma Power Systems (“Gemma”), received a notice to proceed on its previously announced engineering, procurement and construction (“EPC”) services contract with Sandow Lakes Energy Company, LLC (“SLEC”) of Rockdale, Texas, for a 1.2 GW ultra-efficient natural gas-fired plant in Lee County, Texas. This project has now been added to the Company's project backlog an.

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