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Flotek Secures 10-Year Puerto Rico Grid Contract with $400M Backlog

Aug 3, 2026, 6:17 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

A large, multi-year contract with a credible utility partner, plus a sizable backlog and clear deployment milestones, typically supports more favorable investor sentiment and valuation multiples for a small-cap like FTK, provided execution remains on track.

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What happened, with direct paths to the underlying reporting

Flotek announced a 10-year agreement with PREPA to supply its PWRtek platform for a 400 MW natural gas-fired grid project in Puerto Rico. The deal creates a $400 million revenue backlog and ~$40 million in annual revenue at full deployment, with deployment beginning in late 2026 and initial equipment by early 2027, underscoring FTK's shift toward recurring, high-margin revenue streams.

Flotek lands a 10-year PREPA contract for 400 MW.
Backlog ~$400M; annual revenue ~ $40M at full deployment.
Deployment starts Q4 2026; initial equipment by Q1 2027.
FTK pivots to data-driven, high-margin recurring revenue via PWRtek.
Conference call set for Aug 4-5, 2026 to discuss details.

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