FORT LAUDERDALE, Fla., May 31, 2018 (GLOBE NEWSWIRE) -- SEACOR Holdings Inc. (NYSE:CKH) (“SEACOR” or the “Company”) announced today that CLEANCOR Holdings LLC, a wholly owned subsidiary of the Company, acquired the remaining 50% ownership interest in CLEANCOR Energy Solutions LLC (“CLEANCOR”), an alternative energy and power services and solutions company.
Since its inception in late 2013, CLEANCOR has built operating businesses in liquefied natural gas distribution and technical field support services, leasing its fleet of specialized cryogenic and high pressure gas storage, transport and mobile gas processing equipment, and designing, building, operating and maintaining private power and cogeneration plants.
Eric Fabrikant, COO of SEACOR, said, “CLEANCOR has recently commissioned several power supply solutions for end customers in the Caribbean leveraging SEACOR’s relationships in the islands. We also are seeing more opportunity for SEACOR and CLEANCOR to provide turnkey LNG fuel and bunker solutions to the marine industry. The time to leverage the synergies between these two platforms is now, and we are excited to provide Jeff Woods, CLEANCOR’s CEO, and his team, our full support.”
CLEANCOR’s operations consist of:
CLEANCOR LNG is a liquefied natural gas (“LNG”) distribution and technical support business based in Southern California, annually displacing millions of gallons of diesel fuel and propane with LNG, a fuel that has lower emissions and is lower cost than diesel, to a diverse set of off-pipeline agricultural and industrial customers for their process heat and burner operations, and truck fleets for use as a motor fuel. CLEANCOR also supplies LNG for special pipeline maintenance projects where CLEANCOR supports pipeline owners, operators, and end customers to provide temporary natural gas supply during maintenance interruptions to normal operations.
CLEANCOR Equipment Solutions owns, operates and leases a fleet of cryogenic and high pressure gas equipment deployed to support CLEANCOR and third-party special projects at rural, remote and international locations, including Mexico. CLEANCOR’s fleet of high pressure gas ISO containers are leased to customers for the transport of compressed natural gas from compression stations to remote sites, and for the intermodal movement of other compressed gasses, such as helium, hydrogen, nitrogen and argon, to project locations around the world by truck, rail and sea.
CLEANCOR Power Solutions provides cost effective and reliable power generation and energy solutions that deliver financial savings, environmental benefits and grid independence for commercial, industrial and agricultural enterprises, and other public and private critical facilities and infrastructure. CLEANCOR is designing innovative hybrid private power plants, cogeneration facilities and microgrids comprised of a combination of solar, energy storage, and natural gas or propane-fueled generators. CLEANCOR plans to build, operate and maintain these facilities for a range of commercial and industrial customers and local communities to improve their energy quality and resiliency while lowering their cost of energy.
CLEANCOR was and continues to be responsive to critical post-Hurricane Irma and Maria needs for emergency supplies, installation and maintenance of backup generators in the Caribbean Islands, including in Puerto Rico, where it operates as CLEANCOR Soluciones Energéticas.
Jeff Woods, CEO of CLEANCOR, said, “We are excited to become a wholly-owned subsidiary of SEACOR, and to continue to build on the strategic synergies of its extensive customer base and vibrant operations in the US, Caribbean and Latin America by providing customers reliable, low cost energy and power solutions.”
About SEACOR
SEACOR is a diversified holding company with interests in domestic and international transportation and logistics and risk management consultancy. SEACOR is publicly traded on the New York Stock Exchange (NYSE) under the symbol CKH.
