Business Wire | May 7, 2021 12:07AM EDT

New Fortress Energy Announces First Quarter 2021 Results; Forms Joint Venture with Fortress Transportation and Infrastructure LLC Focused on Renewable and Clean Fuels; Declares Dividend of $0.10 per Class A Common Share

May 07, 2021

NEW YORK--(BUSINESS WIRE)--May 07, 2021--New Fortress Energy Inc. (NASDAQ: NFE) ("NFE" or the "Company") today reported its financial results for the first quarter ending March 31, 2021.

Business Highlights

* Closed previously announced acquisitions of Hygo Energy Transition Ltd. ("Hygo") and Golar LNG Partners LP ("GMLP") for $5.1bn enterprise value * Development projects are advancing on budget and schedule(1) Our Mexico and Nicaragua terminals are expected to be operational(2) in Q2 2021 Our first ISO Flex vessel has arrived in La Paz and two more expected in Nicaragua in Q2 2021 We are FID(3) and currently developing new terminals at Santa Catarina, Barcarena, and Suape in Brazil * We continue to make great progress on our Fast LNG asset which we expect will provide us with surety of stable supply at rates well below the current open market prices Actively engaging with gas suppliers around the globe to supply long-term, fixed-price feedstock Secured two world class jack up rigs from Maersk Progressed engineering and design, complete with full operational simulations and deployment scenarios Maintaining the development timeline of 16-20 months to full operations * Launching Zero Parks, a Joint Venture with Fortress Transportation and Infrastructure NFE is forming a new joint venture called "Zero Parks" with Fortress Transportation and Infrastructure LLC (NYSE: FTAI), a business with deep investment experience in transportation and high-utility infrastructure assets in the United States Zero Parks pairs FTAI's transportation experience and infrastructure with NFE's focus on hydrogen and clean energy to commercialize the rapidly growing opportunity for renewable and low-carbon fuels Starting with near-term opportunities for renewable diesel and blue hydrogen, Zero Parks aims to reach FID(3) on its first two projects in 90-120 days * Significant volume growth - over 5.1 million GPD Committed(4) with over 21.2 million GPD of Committed(4) and In Discussion Volumes(5) * Completed the private offering of $1.5 billion of senior secured notes due 2026 (the "2026 Notes") The 2026 Notes bear interest at 6.50% per annum and were issued at an issue price equal to 100% of principal * Closed a $200 million senior secured Revolving Credit Facility ("Revolving Facility") to provide additional liquidity * Our Board of Directors approved a dividend of $0.10 per share, with a record date of June 1, 2021 and a payment date of June 11, 2021

Financial Highlights

For the Three Months Ended,

December 31, March 31,

(in millions, except Average Volumes) 2020 2021

Revenues $145.7 $145.7

Net Loss ($0.5) ($39.5)

Operating Margin* $60.9 $32.8

Average Volumes (k GPD) 1,410 1,440

* Quarterly revenue of $145.7 million, remaining stable from Q4 2020 * Net loss was $39.5 million, as compared to the Q4 2020 net loss of $0.5 million, which was primarily a result of higher LNG cost in Q1 2021 vs. Q4 2020 as well as costs associated with Hygo and GMLP acquisitions * Operating Margin*(4) decreased by $28.1 million in Q1 2021 vs Q4 2020, which is line with our expectations due to higher LNG cost * Average daily volumes sold in Q1 2021 were approximately 1.4 million GPD

*Operating Margin is a non-GAAP financial measure. For definitions and reconciliations of non-GAAP results please refer to the exhibit to this press release.

Please refer to our Q1 2021 Investor Presentation (the "Presentation") for further information about the following terms:

1) "On schedule" and "on budget" are based on internal evaluations and refer to completing certain stages of projects within a timeframe and within a spectrum of budget parameters that, when taken as a whole, are substantially consistent with our business model.2) "Operational" with respect to a particular project means we expect gas to be made available within thirty (30) days, gas has been made available to the relevant project, or that the relevant project is in full commercial operations. Where gas is going to be made available or has been made available but full commercial operations have not yet begun, full commercial operations will occur later than, and may occur substantially later than, our reported Operational date. We cannot assure you if or when such projects will reach full commercial operations. Actual results could differ materially from the illustrations reflected in the Presentation and there can be no assurance we will achieve our goals.3) "FID" means management has made an internal commitment to commit resources (including capital) to a particular project. Our management has not made an FID decision on certain projects as of the date of this press release, and there can be no assurance that we will be willing or able to make any such decision, based on a particular project's time, resource, capital and financing requirements.4) "Committed" means our expected volumes to be sold to customers under binding contracts, awards under requests for proposals, and the agreement being finalized in for our project in Southeast Asia as of the period specified in the Presentation. There can be no assurance that we will enter into binding agreements for the awards we have under requests for proposals or our project in Southeast Asia on a particular timeline or at all. Some, but not all, of our contracts contain minimum volume commitments, and our expected volumes to be sold to customers reflected in our "Committed Volumes" are substantially in excess of such minimum volume commitments. Our near-term ability to sell these volumes is dependent on our customers' continued willingness and ability to continue purchasing these volumes and to perform their obligations under their respective contracts. If any of our customers fails to continue to make such purchases or fails to perform their obligations under their respective contract, our operating results, cash flow and liquidity could be materially and adversely affected. References to Committed Volumes in the future and percentages of these volumes in the future should not be viewed as guidance or management's view of the Company's projected earnings, is not based on the Company's historical operating results, which are limited, and does not purport to be an actual representation of our future economics.5) "In Discussion" refers to potential customers (i) with whom we are in active negotiations, (ii) for whom there is a request for proposals or competitive bid process, or (iii) for whom we anticipate a request for proposals or competitive bid process will soon be announced based on our discussions with the potential customer as of date of this press release. We cannot assure you if or when we will enter into contracts for sales of additional volumes, the price at which we will be able to sell such volumes, or our costs to purchase, liquefy, deliver and sell such volumes. Some, but not all, of our contracts contain minimum volume commitments, and our expected sales to customers reflected in any volumes referenced is substantially in excess of potential minimum volume commitments. References to these volumes and percentages of these volumes should not be viewed as guidance or management's view of the Company's projected earnings, is not based on the Company's historical operating results, which are limited, and does not purport to be an actual representation of our future economics.6) "Operating Margin" means the sum of (i) Net income / (loss), (ii) Selling, general and administrative, (iii) Depreciation and amortization, (iv) Interest expense, (v) Other (income) expense, net (vi) Loss on extinguishment of debt, net, and (vii) Tax expense (benefit), each as reported on our financial statements. Operating Margin is mathematically equivalent to Revenue minus Cost of sales minus Operations and maintenance, each as reported in our financial statements.

Additional Information

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of New Fortress Energy's website, www.newfortressenergy.com, and the Company's most recent Annual Report on Form 10-K, which is available on the Company's website. Nothing on our website is included or incorporated by reference herein.

Earnings Conference Call

Management will host a conference call on Friday, May 7, 2021 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (866) 953-0778 (from within the U.S.) or (630) 652-5853 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE First Quarter 2021 Earnings Call."

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast.

A replay of the conference call will also be available after 11:00 A.M. on Friday, May 7, 2021 through 11:00 A.M. on Friday, March 14, 2021 at (855) 859-2056 (from within the U.S.) or (404) 537-3406 (from outside of the U.S.), Passcode: 9098098.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world's transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Non-GAAP Financial Measure

Operating Margin is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income/(loss) from operations, net income/(loss), cash flow from operating activities or any other measure of performance or liquidity derived in accordance with GAAP. We believe this non-GAAP financial measure, as we have defined it, provides a supplemental measure of financial performance of our current liquefaction, regasification and power generation operations. This measure excludes items that have little or no significance on day-to-day performance of our current liquefaction, regasification and power generation operations, including our corporate SG&A, contract termination charges and loss on mitigation sales, loss on extinguishment of debt, net, and other expense.

As Operating Margin measures our financial performance based on operational factors that management can impact in the short-term and provides an assessment of controllable expenses, items associated with our capital structure and beyond the control of management in the short-term, such as depreciation and amortization, taxation, and interest expense are excluded. As a result, this supplemental metric affords management the ability to make decisions to facilitate meeting current financial goals as well as to achieve optimal financial performance of our current liquefaction, regasification and power generation operations.

The principal limitation of this non-GAAP measure is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. A reconciliation is provided for the non-GAAP financial measure to our GAAP net income/(loss). Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measure to our GAAP net income/(loss), and not to rely on any single financial measure to evaluate our business.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" including our expected volumes of LNG or production of power in particular jurisdictions; our expected volumes for In Discussion Volumes; the expectation that we will continue to take advantage of low LNG prices and develop our Fast LNG project for long-term LNG pricing; our expectations regarding our organic growth opportunities and the full capacity of our existing infrastructure, our expectations regarding our inorganic growth opportunities, the key markets we may enter, and our expectations regarding our green hydrogen investment and pilot projects. You can identify these forward-looking statements by the use of forward-looking words such as "expects," "may," "will," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of those words or other comparable words. These forward-looking statements represent the Company's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: our limited operating history; loss of one or more of our customers; inability to procure LNG on a fixed-price basis, or otherwise to manage LNG price risks, including hedging arrangements; the completion of construction on our LNG terminals, facilities, power plants or liquefaction facilities and the terms of our construction contracts for the completion of these assets; cost overruns and delays in the completion of one or more of our LNG terminals, facilities, power plants or liquefaction facilities, as well as difficulties in obtaining sufficient financing to pay for such costs and delays; our ability to obtain additional financing to effect our strategy; we may be unable to successfully integrate the businesses and realize the anticipated benefits of the mergers of GMLP and Hygo; failure to produce or purchase sufficient amounts of LNG or natural gas at favorable prices to meet customer demand; hurricanes or other natural or manmade disasters; failure to obtain and maintain approvals and permits from governmental and regulatory agencies; operational, regulatory, environmental, political, legal and economic risks pertaining to the construction and operation of our facilities; inability to contract with suppliers and tankers to facilitate the delivery of LNG on their chartered LNG tankers; cyclical or other changes in the demand for and price of LNG and natural gas; failure of natural gas to be a competitive source of energy in the markets in which we operate, and seek to operate; competition from third parties in our business; inability to re-finance our outstanding indebtedness; changes to environmental and similar laws and governmental regulations that are adverse to our operations; inability to enter into favorable agreements and obtain necessary regulatory approvals; the tax treatment of us or of an investment in our Class A shares; the completion of the certain exchange transactions; a major health and safety incident relating to our business; increased labor costs, and the unavailability of skilled workers or our failure to attract and retain qualified personnel; and risks related to the jurisdictions in which we do, or seek to do, business, particularly Florida, Jamaica, Brazil and the Caribbean. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in the Company's annual and quarterly reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement.

Exhibits - Financial Statements

Consolidated Statements of Operations and Comprehensive Loss

For the three months ended December 31, 2020 and March 31, 2021

(Unaudited, in thousands of U.S. dollars, except share and per share amounts)

For the Three Months Ended

December 31, March 31, 2020 2021

Revenues

Operating revenue $ 94,769 $ 91,196

Other revenue 50,927 54,488

Total revenues 145,696 145,684



Operating expenses

Cost of sales 68,987 96,671

Operations and maintenance 15,796 16,252

Selling, general and administrative 32,869 45,181

Depreciation and amortization 10,013 9,890

Total operating expenses 127,665 167,994

Operating income 18,031 (22,310 )

Interest expense 14,822 18,680

Other expense (income), net 826 (604 )

Loss before taxes 2,383 (40,386 )

Tax expense (benefit) 2,868 (877 )

Net loss (485 ) (39,509 )

Net loss attributable to non-controlling 655 1,606 interest

Net (loss) income attributable to $ 170 $ (37,903 )stockholders



Net loss per share - basic and diluted $ 0.00 $ (0.21 )



Weighted average number of shares 170,855,679 176,500,576 outstanding - basic and diluted



Other comprehensive loss:

Net loss $ (485 ) $ (39,509 )

Currency translation adjustment (883 ) 997

Comprehensive income (loss) 398 (40,506 )

Comprehensive (gain) loss attributable to (131 ) 2,480 non-controlling interest

Comprehensive (loss) income attributable $ 267 $ (38,026 )to stockholders

Non-GAAP Operating Margin

(Unaudited, in thousands of U.S. dollars)

We define non-GAAP operating margin as GAAP net loss, adjusted for selling, general and administrative expense, depreciation and amortization, interest expense, other expense, loss on extinguishment of debt, net and tax expense.

For the Three Months Ended,

December 31, 2020

March 31, 2021

Net loss

$

(485

)

$

(39,509

)

Add:

Selling, general and administrative

32,869

45,181

Depreciation and amortization

10,013

9,890

Interest expense

14,822

18,680

Other expense (income), net

826

(604

)

Tax expense (benefit)

2,868

(877

)

Non-GAAP operating margin

$

60,913

$

32,761

Non-GAAP Operating Margin

(Unaudited, in thousands of U.S. dollars)



We define non-GAAP operating margin as GAAP net loss, adjusted for selling,general and administrative expense, depreciation and amortization, interestexpense, other expense, loss on extinguishment of debt, net and tax expense.





For the Three Months Ended,

December 31, 2020 March 31, 2021

Net loss $ (485 ) $ (39,509 )

Add:

Selling, general and administrative 32,869 45,181

Depreciation and amortization 10,013 9,890

Interest expense 14,822 18,680

Other expense (income), net 826 (604 )

Tax expense (benefit) 2,868 (877 )

Non-GAAP operating margin $ 60,913 $ 32,761

Condensed Consolidated Balance SheetsAs of March 31, 2021 and December 31, 2020(Unaudited, in thousands of U.S. dollars, except share and per share amounts)

March 31,

December 31,

2021

2020

Assets

Current assets

Cash and cash equivalents

$

360,130

$

601,522

Restricted cash

4,072

12,814

Receivables, net of allowances of $203 and $98, respectively

95,729

76,544

Inventory

28,031

22,860

Prepaid expenses and other current assets, net

60,245

48,270

Total current assets

548,207

762,010

Restricted cash

15,000

15,000

Construction in progress

337,691

234,037

Property, plant and equipment, net

607,003

614,206

Right-of-use assets

131,575

141,347

Intangible assets, net

65,934

46,102

Finance leases, net

7,501

7,044

Deferred tax assets, net

5,060

2,315

Other non-current assets, net

114,140

86,030

Total assets

$

1,832,111

$

1,908,091

Liabilities

Current liabilities

Accounts payable

$

27,970

$

21,331

Accrued liabilities

88,809

90,352

Current lease liabilities

34,857

35,481

Due to affiliates

10,859

8,980

Other current liabilities

33,375

35,006

Total current liabilities

195,870

191,150

Long-term debt

1,239,799

1,239,561

Non-current lease liabilities

74,363

84,323

Deferred tax liabilities, net

5,194

2,330

Other long-term liabilities

25,704

15,641

Total liabilities

1,540,930

1,533,005

Commitments and contingencies

Stockholders' equity

Class A common stock, $0.01 par value, 750.0 million shares authorized, 175.3 million issued and outstanding as of March 31, 2021; 174.6 million issued and outstanding as of December 31, 2020

1,746

1,746

Additional paid-in capital

551,135

594,534

Accumulated deficit

(267,406

)

(229,503

)

Accumulated other comprehensive income

59

182

Total stockholders' equity attributable to NFE

285,534

366,959

Non-controlling interest

5,647

8,127

Total stockholders' equity

291,181

375,086

Total liabilities and stockholders' equity

$

1,832,111

$

1,908,091

Condensed Consolidated Balance SheetsAs of March 31, 2021 and December 31, 2020(Unaudited, in thousands of U.S. dollars, except share and per share amounts)

March 31, December 31,

2021 2020

Assets

Current assets

Cash and cash equivalents $ 360,130 $ 601,522

Restricted cash 4,072 12,814

Receivables, net of allowances of $203 and $98, 95,729 76,544 respectively

Inventory 28,031 22,860

Prepaid expenses and other current assets, net 60,245 48,270

Total current assets 548,207 762,010



Restricted cash 15,000 15,000

Construction in progress 337,691 234,037

Property, plant and equipment, net 607,003 614,206

Right-of-use assets 131,575 141,347

Intangible assets, net 65,934 46,102

Finance leases, net 7,501 7,044

Deferred tax assets, net 5,060 2,315

Other non-current assets, net 114,140 86,030

Total assets $ 1,832,111 $ 1,908,091



Liabilities

Current liabilities

Accounts payable $ 27,970 $ 21,331

Accrued liabilities 88,809 90,352

Current lease liabilities 34,857 35,481

Due to affiliates 10,859 8,980

Other current liabilities 33,375 35,006

Total current liabilities 195,870 191,150



Long-term debt 1,239,799 1,239,561

Non-current lease liabilities 74,363 84,323

Deferred tax liabilities, net 5,194 2,330

Other long-term liabilities 25,704 15,641

Total liabilities 1,540,930 1,533,005



Commitments and contingencies



Stockholders' equity

Class A common stock, $0.01 par value, 750.0million shares authorized, 175.3 million issuedand outstanding as of March 31, 2021; 174.6 1,746 1,746 million issued and outstanding as of December31, 2020

Additional paid-in capital 551,135 594,534

Accumulated deficit (267,406 ) (229,503 )

Accumulated other comprehensive income 59 182

Total stockholders' equity attributable to NFE 285,534 366,959

Non-controlling interest 5,647 8,127

Total stockholders' equity 291,181 375,086

Total liabilities and stockholders' equity $ 1,832,111 $ 1,908,091

Condensed Consolidated Statements of Operations and Comprehensive Loss

For the three months ended March 31, 2021 and 2020

(Unaudited, in thousands of U.S. dollars, except share and per share amounts)

Three Months Ended March 31,

2021

2020

Revenues

Operating revenue

$

91,196

$

63,502

Other revenue

54,488

11,028

Total revenues

145,684

74,530

Operating expenses

Cost of sales

96,671

68,216

Operations and maintenance

16,252

8,483

Selling, general and administrative

45,181

28,538

Contract termination charges and loss on mitigation sales

-

208

Depreciation and amortization

9,890

5,254

Total operating expenses

167,994

110,699

Operating loss

(22,310

)

(36,169

)

Interest expense

18,680

13,890

Other (income) expense, net

(604

)

611

Loss on extinguishment of debt, net

-

9,557

Loss before taxes

(40,386

)

(60,227

)

Tax benefit

(877

)

(4

)

Net loss

(39,509

)

(60,223

)

Net loss attributable to non-controlling interest

1,606

51,757

Net loss attributable to stockholders

$

(37,903

)

$

(8,466

)

Net loss per share - basic and diluted

$

(0.21

)

$

(0.32

)

Weighted average number of shares outstanding - basic and diluted

176,500,576

26,029,492

Other comprehensive loss:

Net loss

$

(39,509

)

$

(60,223

)

Currency translation adjustment

997

369

Comprehensive loss

(40,506

)

(60,592

)

Comprehensive loss attributable to non-controlling interest

2,480

52,073

Comprehensive loss attributable to stockholders

$

(38,026

)

$

(8,519

)

Condensed Consolidated Statements of Operations and Comprehensive Loss

For the three months ended March 31, 2021 and 2020

(Unaudited, in thousands of U.S. dollars, except share and per share amounts)

Three Months Ended March 31,

2021 2020

Revenues

Operating revenue $ 91,196 $ 63,502

Other revenue 54,488 11,028

Total revenues 145,684 74,530



Operating expenses

Cost of sales 96,671 68,216

Operations and maintenance 16,252 8,483

Selling, general and administrative 45,181 28,538

Contract termination charges and loss on - 208 mitigation sales

Depreciation and amortization 9,890 5,254

Total operating expenses 167,994 110,699

Operating loss (22,310 ) (36,169 )

Interest expense 18,680 13,890

Other (income) expense, net (604 ) 611

Loss on extinguishment of debt, net - 9,557

Loss before taxes (40,386 ) (60,227 )

Tax benefit (877 ) (4 )

Net loss (39,509 ) (60,223 )

Net loss attributable to non-controlling 1,606 51,757 interest

Net loss attributable to stockholders $ (37,903 ) $ (8,466 )



Net loss per share - basic and diluted $ (0.21 ) $ (0.32 )



Weighted average number of shares outstanding 176,500,576 26,029,492 - basic and diluted



Other comprehensive loss:

Net loss $ (39,509 ) $ (60,223 )

Currency translation adjustment 997 369

Comprehensive loss (40,506 ) (60,592 )

Comprehensive loss attributable to 2,480 52,073 non-controlling interest

Comprehensive loss attributable to $ (38,026 ) $ (8,519 )stockholders

Condensed Consolidated Statements of Cash FlowsFor the three months ended March 31, 2021 and 2020

(Unaudited, in thousands of U.S. dollars)

Three Months Ended March 31,

2021

2020

Cash flows from operating activities

Net loss$

(39,509

)

$

(60,223

)

Adjustments for:Amortization of deferred financing costs400

3,353

Depreciation and amortization10,160

5,481

Loss on extinguishment and financing expenses-

9,557

Deferred taxes(1,412

)

(18

)

Share-based compensation1,770

2,508

Other393

2,656

Changes in operating assets and liabilities:(Increase) Decrease in receivables(19,223

)

5,752

(Increase) Decrease in inventories(5,171

)

34,830

(Increase) in other assets(36,943

)

(54,080

)

Decrease in right-of-use assets9,772

9,263

(Decrease) Increase in accounts payable/accrued liabilities(22,399

)

2,132

Increase (Decrease) in amounts due to affiliates1,879

(2,875

)

(Decrease) in lease liabilities(10,584

)

(9,170

)

(Decrease) in other liabilities(1,119

)

(477

)

Net cash used in operating activities(111,986

)

(51,311

)

Cash flows from investing activities

Capital expenditures(80,810

)

(56,098

)

Entities acquired in asset acquisitions, net of cash acquired(8,817

)

-

Other investing activities(630

)

50

Net cash used in investing activities(90,257

)

(56,048

)

Cash flows from financing activities

Proceeds from borrowings of debt-

832,144

Payment of deferred financing costs(670

)

(14,069

)

Repayment of debt-

(506,402

)

Payments related to tax withholdings for share-based compensation(29,564

)

(6,084

)

Payment of dividends(17,657

)

-

Net cash (used in) provided by financing activities(47,891

)

305,589

Net (decrease) increase in cash, cash equivalents and restricted cash

(250,134

)

198,230

Cash, cash equivalents and restricted cash - beginning of period

629,336

93,035

Cash, cash equivalents and restricted cash - end of period

$

379,202

$

291,265

Supplemental disclosure of non-cash investing and financing activities:

Changes in accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions

$

26,311

$

13,359

Liabilities associated with consideration paid for entities acquired in asset acquisitions

11,845

-

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CONTACT: IR: Joshua Kane (516) 268-7455 jkane@newfortressenergy.com

CONTACT: Media: Jake Suski (516) 268-7403 press@newfortressenergy.com