HOUSTON – Flotek Industries, Inc. has announced its acquisition of power generation assets and related intellectual property from ProFrac GDM, LLC, a subsidiary of ProFrac Holding Corp., for $105 million.
Flotek concurrently entered into a six-year dry lease agreement of the acquired assets with ProFrac GDM.
The statement details that acquired assets include mobile natural gas conditioning and distribution units that provide gas monitoring and duel optimization.
It is reported that the $105 is comprised of the $17.6 million,$40.2 million in equity, and lastly, a $40 million secured promissory note with at an annual rate of 10%.
Ryan Ezell, Flotek’s Chief Executive Officer, said that the move provides an entry point to mobile power.
Flotek will host its conference call on the event, Wednesday, May 7, 2025 at 9:00 AM CST (10:00AM EST).
Flotek Industries, Inc. is a Leading tech company for the energy industry, leveraging real-time data for innovation. ProFrac Holding Corp. is a Technology-focused energy provider.
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