Arroyo Invests in Integrated Shore-Side LNG Liquefaction and Bunkering Platform in the U.S.
January 23, 2023
HOUSTON (January 20, 2023) – Arroyo Investors, a Houston-based, independent investment manager focused on power and energy infrastructure assets throughout the Americas, today announced it has recently closed an investment in Seaside LNG and its affiliated entities (the Company), an integrated shore-side LNG liquefaction and bunkering platform in the U.S.
The Company owns interests in two separate operating businesses: (A) a 50% ownership interest in JAX LNG, LLC, a small-scale (360,000 gallons/day) LNG liquefaction facility operating two trains in Jacksonville, Florida; and (B) a 100% ownership stake in an LNG bunkering barge operation through Polaris New Energy.
“We believe this investment represents a differentiated opportunity for Arroyo to own and operate infrastructure assets that are strategically positioned to help facilitate the global marine industry’s transition from traditional heavy fuel to cleaner LNG, in compliance with IMO 2020,” said Brandon Wax, Managing Director at Arroyo. “As an economic and environmentally friendly fuel supply alternative, we believe LNG is a key component in the transformation of the energy landscape and Seaside LNG is well positioned to lead the way by supplying LNG to its customers.”
Credit Suisse Securities (USA) LLC acted as exclusive financial advisor to Arroyo.
ABOUT SEASIDE LNG
Seaside provides LNG production and maritime transportation logistics to meet the growing demand for LNG, a cleaner alternative fuel, to customers in the maritime, aerospace and transportation industries. Seaside owns 50% of JAX LNG, a small-scale (360,000 gallons/day) LNG production facility operating two trains in Jacksonville, Florida, and a 100% ownership stake in an LNG bunkering barge operation through Polaris New Energy. The company currently owns the barge Clean Canaveral and tug Polaris, which operates as an Articulated Tug & Barge Unit. Seaside is expanding its barge fleet by constructing a sister barge that is scheduled for delivery by end of 2023. For further information, please visit www.seasidelng.com.