Samsung Chairman Lee Jae-yong Expected to Meet Nvidia CEO Jensen Huang on AI and Chip Partnership 
Mizuho’s Top U.S. Industrials Stocks: Why Corteva and Stanley Black & Decker Stand Out 
AstraZeneca Shares Sink After Wainua Trial Misses Key Heart Disease Goal 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow 
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy 
Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
Bain Capital Exits Kioxia After AI-Fueled Valuation Surge 
OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says 
SK Hynix’s $28B U.S. IPO Draws Strong Demand as AI Chip Boom Fuels Investor Interest 
Oil and LNG Tankers Turn Back as Strait of Hormuz Security Risks Escalate 
Sino Biopharm Stock Rises After AstraZeneca Licensing Deal, GSK Partnership Expansion 
Nvidia Invests $500M in Firmus Technologies Ahead of Planned ASX IPO 
Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns 
Kitron Q2 Revenue Beats Estimates as Defense Demand Lifts Growth 
SK Hynix Prices Record U.S. ADR Offering at $149 After $200 Billion Investor Demand 
HOUSTON, April 26, 2018 -- American Electric Technologies, Inc. (NASDAQ:AETI), a leading provider of power delivery solutions for the global energy industry, announced today that its M&I Electric Brazil subsidiary has been awarded a contract to provide specialized services for the complete overhaul in-situ of twenty (20) 13.8kV, 11MVA diesel generators for a large Brazilian power utility company.
The company received the project award directly from one of the largest power plants in Brazil and was a break-in win for M&I Electric Brazil. This power plant is located in the state of Paraíba in Northeastern Brazil and was considered the biggest installation of diesel driven engines in the world during its construction phase in 2010. The overall power of 342 Megawatts is connected to the electrical grid through a 230kV substation. The project award includes the planning, site management, complete disassembly, electrical/mechanical inspection, dry-ice cleaning and commissioning. It aims to extend the lifetime of the asset and avoid insulation failures as they work in a harsh environment with severe contamination issues.
“We are very pleased with the progress that M&I team is making with energy companies in Brazil,” said Jose Octavio, Vice President and General Manager, M&I Electric Brazil. “Our rotating machines division has been delivering customized projects with methodologies that reduce outages and repair costs for our customers.”
M&I expects delivery of this project to occur in the second half of 2018. Additional details were not disclosed.
About AETI:
American Electric Technologies, Inc. (NASDAQ:AETI) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services. AETI is headquartered in Houston and has global operations in Beaumont, Texas; and Rio de Janeiro, Macae and Belo Horizonte Brazil. In addition, AETI has a minority interest in a joint venture located in Xian, China. AETI’s SEC filings, news and product/service information are available at www.aeti.com.
Contact:
Bill Brod
Chief Financial Officer
713-644-8182
