Flotek Industries, Inc. acquired power generation assets and related intellectual property from ProFrac GDM, LLC, a subsidiary of ProFrac Holding Corp., for $105 million. Concurrently, Flotek entered into a six-year dry lease agreement for these acquired assets with ProFrac GDM.
The acquired assets include digitally enhanced mobile natural gas conditioning and distribution units, which provide real-time gas monitoring and dual fuel optimization for remote power generation. Twenty-two assets were immediately placed into rental service, with an additional eight units expected in the second half of 2025.
ProFrac's Executive Chairman, Matt Wilks, stated that these transactions strengthen the company's financial flexibility and its ability to optimally manage purchase obligations under the existing Chemicals Supply Agreement with Flotek. The lease agreement provides fixed rates for the first five years, followed by prevailing market rates in the sixth year.
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