Arroyo Investors, a Houston-based, independent investment manager focused on power and energy infrastructure assets throughout the Americas, have closed an investment in Seaside LNG and its affiliated entities, an integrated shore-side LNG liquefaction and bunkering platform in the US.
Brandon Wax, Managing Director at Arroyo, said: “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.”
“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.”
Seaside provides LNG production and maritime transportation logistics to customers in the maritime, aerospace, and transportation industries.
It owns interests in two separate operating businesses, a 50% ownership interest in JAX LNG, a small-scale LNG liquefaction 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 said it is expanding its barge fleet by constructing another barge scheduled for delivery by end of 2023.
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