Duos Technologies Group, Inc. announced on November 20, 2024, that its operating subsidiary, Duos Energy Corporation, signed a two-year Asset Management Agreement (AMA) with affiliates of Fortress Investment Group. The agreement is for the deployment and operation of a fleet of mobile gas turbines with a combined generation capacity of 850 megawatts.
The AMA has an estimated contract value of $42 million over the two-year period. Duos will oversee the management and deployment of these assets, which Fortress is acquiring from APR Energy.
This agreement significantly accelerates the diversification of Duos's business, aligning with its strategy to achieve profitability in fiscal year 2025. The mobile gas turbines offer rapid deployment solutions, particularly for Behind-the-Meter power needs for data centers.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.