STABILIS ENERGY ANNOUNCES SECOND QUARTER 2019 RESULTS

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Strong Revenue and EBITDA Growth in Stabilis LNG Business;
10-Q Filing Only Contains Legacy AETI Results

Houston, Texas, August 14, 2019 — Stabilis Energy, Inc., (“Stabilis”) (NASDAQ: SLNG) today reported its financial results for its 2nd quarter ended June 30, 2019 (“current quarter”). Due to the timing of the Share Exchange Transaction (“the Transaction”) with American Electric Technologies, Inc. (“AETI”) that closed on July 26, 2019, the financial results contained in the Company’s Form 10-Q for the period ended June 30, 2019 reflect the legacy AETI results and do not contain results from Stabilis’ liquefied natural gas (“LNG”) business. Subsequent quarterly and annual filings will include the financial results of the combined business. This press release contains results of the LNG business that are not included in the Company’s Form 10-Q filed on August 14, 2019.

Stabilis LNG Three Month Results for the Period Ending June 30, 2019

Stabilis reported LNG revenues of $11.1 million, an increase of 28% compared to the quarter ended June 30, 2018 (“prior year quarter”) driven by increased customer volumes and improved pricing in LNG product sales as well as rental, service, and other revenues. LNG product sales were driven by increased volumes at our George West, Texas liquefier. Utilization of the George West liquefier averaged 76% in the current quarter versus 42% in the prior year quarter driven by increased demand by customers in the industrial and energy sectors, as well as strong exports to Mexico. Growth in rental, service, and other revenue was driven by customers in the pipeline, utilities, industrial, and energy sectors.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) was $1.6 million in the current quarter vs. an EBITDA loss of $0.1 million in the prior year quarter, a year-over-year improvement of $1.7 million

Net loss for the current quarter was $1.0 million compared to a net loss of $3.4 million in the prior year quarter, a year-over-year improvement of $2.4 million.

Stabilis LNG Six Month Results for the Period Ending June 30, 2019

For the first six months of 2019, the Stabilis LNG business reported revenues of $24.1 million, an increase of 30% compared to the first six months of 2018. EBITDA for the first six months of 2019 was $3.6 million, a $1.9 million or 109% improvement from the same period in 2018. Net loss for the first six months was $1.6 million compared to a net loss of $4.9 million for the same period last year, an improvement of $3.3 million.

“We are pleased with the year-on-year growth of the business,” said Jim Reddinger, President and Chief Executive Officer of Stabilis Energy, Inc. “We are seeing strong demand for LNG fueling solutions across all of our targeted end markets in 2019 and we expect this positive momentum to continue throughout 2019. LNG offers the reliable, low cost, and low environmental emissions solutions that many of our customers require today. We look forward to updating the market on our progress as we report financial results for the consolidated business going forward.”

Non-GAAP Measures

Our management uses EBITDA to assess the performance and operating results of our business. EBITDA is defined as Earnings before Interest (includes interest income and interest expense), Taxes, Depreciation and Amortization. We include EBITDA to provide investors with a supplemental measure of our operating performance. EBITDA is not a recognized term under generally accepted accounting principles in the U.S. (“GAAP”). Accordingly, it should not be used as an indicator of, or an alternative to, net income as a measure of operating performance. In addition, EBITDA is not intended to be a measure of free cash flow available for management’s discretionary use, as it does not consider certain cash requirements, such as debt service requirements. Because the definition of EBITDA may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The following table provides a reconciliation of Net Loss, the most directly comparable GAAP measure, to EBITDA (in thousands).

The above results represent Stabilis’ standalone operations and do not include the financial results for American Electric Technologies that Stabilis acquired in the Transaction which closed subsequent to the end of the 2nd quarter.  As a result of the Transaction, the quarterly report on Form 10-Q filed by Stabilis for the period ended June 30, 2019 on August 14, 2019, includes only the historical results of American Electric Technologies, Inc. as the legal acquirer in the Transaction.   

Conference Call

Management will conduct a conference call on Thursday, August 15, 2019 at 10:00 a.m. eastern time (9:00 a.m. central).  To participate in the call, dial 844-407-9500 for domestic callers, or 862-298-0850 for international callers, at least 10 minutes before the call.  A telephonic replay of the call will be available until August 22, 2019 by dialing 877-481-4010 and using the passcode 53278.  A webcast archive will be available shortly after the call at www.stabilisenergy.com.

About Stabilis

Stabilis Energy, Inc. is a vertically integrated provider of small-scale liquefied natural gas (“LNG”) production, distribution and fueling services to multiple end markets in North America.  Stabilis has safely delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history in the LNG industry, which it believes makes it one of the largest and most experienced small-scale LNG providers in North America.  Stabilis’ customers use LNG as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis’ customers use LNG as an alternative to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions.  Stabilis’ customers also use LNG as a “virtual pipeline” solution when natural gas pipelines are not available or volumes are curtailed.  To learn more, visit www.stabilisenergy.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “can”, “believes,” “expects,” “could,” “will,” “plan,” “may,” “should,” “predicts,” “potential” and similar expressions are intended to identify such forward-looking statements.

Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs, based on information currently available. Most of these factors are outside the parties’ control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors are contained in the definitive proxy statement filed by AETI with the SEC on June 13, 2019 and its Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April 16, 2019. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters and attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Stabilis does undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor Contact:

Andrew Puhala
Chief Financial Officer
832-456-6500
ir@stabilisenergy.com

STABILIS ENERGY ANNOUCES SECOND QUARTER EARNINGS CALL

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HOUSTON, TX / ACCESSWIRE / August 13, 2019 / Stabilis Energy, Inc., (NASDAQ:SLNG), today announced that it will release second quarter 2019 results on Wednesday, August 14, 2019 after the market closes. In conjunction with the release, Stabilis Energy has scheduled a conference call on Thursday, August 15, 2019 at 10:00 a.m. eastern time (9:00 a.m. central). To participate in the call, dial 844-407-9500 for domestic callers, or 862-298-0850 for international callers, at least 10 minutes before the call. A telephonic replay of the call will be available until August 22, 2019 by dialing 877-481-4010 and using the passcode 53278. A webcast archive will be available shortly after the call at www.stabilisenergy.com.

About Stabilis

Stabilis Energy, Inc. is a vertically integrated provider of small-scale liquefied natural gas (“LNG”) production, distribution and fueling services to multiple end markets in North America. Stabilis has safely delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history in the LNG industry, which it believes makes it one of the largest and most experienced small-scale LNG providers in North America. Stabilis’ customers use LNG as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis’ customers use LNG as an alternative to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions. Stabilis’ customers also use LNG as a “virtual pipeline” solution when natural gas pipelines are not available, or volumes are curtailed. To learn more, visit www.stabilisenergy.com.

Investor Contact
Andrew L. Puhala,
Chief Financial Officer
Stabilis Energy, Inc.
832-456-6500

Chart Industries and Stabilis Energy Invest in Small-Scale LNG North American Growth

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Atlanta, GA | August 5, 2019 | Chart Industries, Inc. (“Chart”) (Nasdaq: GTLS) announced a strategic investment in Stabilis Energy, Inc. (NASDAQ: SLNG) (“Stabilis”) of up to $7 million for up to 9% of common equity.  The transaction is scheduled to close within the next thirty days subject to both parties meeting certain closing conditions.  The actual investment and ownership will be determined by an agreed upon formula at closing. 

Small-scale LNG is a key aspect of the global LNG infrastructure buildout, as these smaller liquefaction plants serve specific uses such as marine bunkering, fuel for over the road transport, gas-LDC peak storage and power generation.  Stabilis and Chart together built a 100,000 LNG gallon per day liquefier in Texas, with the intended purpose to service multiple end markets, including energy, industrial, mining, and Mexican exports.  Chart supplied the liquefaction train, storage, gas pre-treatment, and truck loading facilities, which contributed to the record production levels of the plant.  

“We are pleased to announce this strategic investment in Stabilis Energy,” said Jill Evanko, Chief Executive Officer of Chart.  “We look forward to providing equipment and process to Stabilis and other customers as they expand in the small-scale and utility-scale LNG market.  We expect over $650 million of opportunity in this market for our products in the next three years.” 

“Stabilis welcomes Chart Industries as a shareholder,” commented James Reddinger, President and Chief Executive Officer of Stabilis.  “As a global market leader in LNG production equipment and process systems, we appreciate Chart’s confidence in us.  This transaction better positions Stabilis to pursue our North American small-scale LNG growth strategy, which is currently focused on plant development opportunities in the United States and Mexico.”   

Reddinger continued, “Chart’s investment will increase our publicly traded float and total shares outstanding, thereby helping Stabilis meet its NASDAQ listing requirements.  Furthermore, the investment will reduce our financial leverage and give us a stronger balance sheet to support our growth plans.” 

Stabilis completed a share exchange transaction with American Electric Technologies, Inc. on July 26, 2019 and subsequently commenced trading on the Nasdaq Capital Market under the ticker symbol “SLNG” on July 29, 2019.   

Chart Industries and Stabilis Energy will hold a joint conference call at 1:30pm eastern time tomorrow, August 6, 2019.  Participants may join the call by using the toll-free dial-in number of 877-312-9395, or internationally 970-315-0456.  The conference ID is 1987854. 

About Chart Industries 

Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. Chart’s unique product portfolio is used throughout the liquid gas supply chain in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and Latin America. To learn more, visit www.chartindustries.com

About Stabilis Energy 

Stabilis Energy, Inc. is a vertically integrated provider of small-scale liquefied natural gas (“LNG”) production, distribution and fueling services to multiple end markets in North America.  Stabilis has safely delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history in the LNG industry, which it believes makes it one of the largest and most experienced small-scale LNG providers in North America.  Stabilis’ customers use LNG as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis’ customers use LNG as an alternative to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions.  Stabilis’ customers also use LNG as a “virtual pipeline” solution when natural gas pipelines are not available or volumes are curtailed.  To learn more, visit www.stabilisenergy.com. 

Investor Contacts – Chart Industries: 

Tom Pittet 
Vice President, Investor Relations 
678-596-0982 

thomas.pittet@chartindustries.com 

Investor Contacts – Stabilis Energy: 

Andrew Puhala 

Chief Financial Officer 

832-456-6500 

andy.puhala@stabilisenergy.com 

Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements concerning the Company’s business plans, products and technology, cost synergies and efficiency savings, objectives, future orders, product demand and customer requirements, revenues, margins, earnings or performance, liquidity and cash flow, capital expenditures, business and industry trends, project status and other information that is not historical in nature.  Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” or the negative of such terms or comparable terminology. 

Forward-looking statements contained in this news release or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements.  Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include those found in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully.  The Company undertakes no obligation to update or revise any forward-looking statement.  

American Electric Technologies Completes Share Exchange with Stabilis Energy

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Shares to Commence Trading on the Nasdaq Capital Market on Monday, July 29, 2019 Under the Name Stabilis Energy, Inc. and the Symbol “SLNG”; Shares Outstanding Will Reflect 1:8 Reverse Stock Split

Houston, Texas, July 29, 2019 — Stabilis Energy, Inc. (“Stabilis”) f/k/a American Electric Technologies, Inc. (“American Electric” or “AETI”) today announced that the share exchange transaction (the “Transaction”) with Stabilis Energy LLC and its subsidiaries was completed on July 26, 2019. The Transaction and its related proposals, including a company name change and a reverse stock split, were approved by American Electric’s stockholders at a Special Meeting of Stockholders on July 17, 2019. As of today, the company will operate under the name Stabilis Energy, Inc. and its common stock will commence trading on the Nasdaq Capital Market under the ticker symbol “SLNG”. In addition, the company’s shares outstanding will reflect a one-for-eight reverse split.

“Stabilis is pleased to complete this transaction with AETI,” commented James Reddinger, President and Chief Executive Officer of Stabilis. “We believe that this transaction positions Stabilis to become a leading North American small-scale LNG production and distribution company. We will focus on consolidating existing LNG assets, as well as investing in new assets in the United States, Mexico, and Canada. We look forward to providing great LNG solutions to our customers and creating value for our shareholders.”

As a result of the reverse stock split, every eight shares of American Electric common stock outstanding immediately prior to the reverse stock split was combined into one share of Stabilis Energy, Inc. common stock. No fractional shares are being issued in connection with the reverse stock split. In lieu of fractional shares, cash will be issued based on the closing price of American Electric common stock on the Nasdaq Capital Market on July 26, 2019.

As a result of the completion of the share exchange, the former holders of Stabilis Energy LLC and its subsidiaries own 90% of the combined company and the former American Electric stockholders own 10% of the combined company. Approximately 14,645,917 shares of Stabilis Energy, Inc. common stock are issued and outstanding as a result of the completion of the share exchange and reverse stock split. The new CUSIP number is 85236P 101.

Stabilis Energy, Inc. operates under the leadership of James Reddinger as President and Chief Executive Officer and Andrew Puhala as Chief Financial Officer. Casey Crenshaw serves as the Executive Chairman. The board of directors is comprised of nine members, including: Casey Crenshaw (Chairman), James Reddinger, James Aivalis, Will Crenshaw, Ben Broussard, Arthur Dauber, Mushahid Khan, Edward Kuntz and Peter Mitchell. Messrs. Khan, Kuntz and Mitchell are independent directors and will constitute the Audit Committee.

Simmons Energy, a division of Piper Jaffray & Co., acted as transaction advisor and Thompson & Knight LLP acted as legal advisor to Stabilis. Oppenheimer acted as transaction advisor and Locke Lord LLP acted as legal advisor to AETI.

About Stabilis Energy, Inc.

Stabilis Energy, Inc. is a vertically integrated provider of small-scale liquefied natural gas (“LNG”) production, distribution and fueling services to multiple end markets in North America. Stabilis has safely delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history in the LNG industry, which it believes makes it one of the largest and most experienced small-scale LNG providers in North America. Stabilis’ customers use LNG as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis’ customers use LNG as an alternative to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions. Stabilis’ customers also use LNG as a “virtual pipeline” solution when natural gas pipelines are not available or volumes are curtailed. Stabilis Energy, Inc. is headquartered in Houston, Texas.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “can”, “believes,” “expects,” “could,” “will,” “plan,” “may,” “should,” “predicts,” “potential” and similar expressions are intended to identify such forward-looking statements.

Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs, based on information currently available. Most of these factors are outside the parties’ control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors are contained in the definitive proxy statement filed by AETI with the SEC on June 13, 2019 and its Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April 16, 2019. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters and attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Stabilis does undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor Contact:

Andrew Puhala
Chief Financial Officer
832-456-6500
andy.puhala@stabilisenergy.com

AMERICAN ELECTRIC TECHNOLOGIES STOCKHOLDERS APPROVE SHARE EXCHANGE TRANSACTION WITH STABILIS ENERGY LLC.

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Bellaire, Texas. July 17, 2019. Global Newswire. American Electric Technologies, Inc. (NASDAQ:AETI) (“AETI”) today announced that the AETI stockholders approved the proposals related to the pending share exchange transaction with Stabilis Energy LLC and its subsidiaries (“Stabilis”) at the special meeting of AETI stockholders held earlier today.

More than 99% of the shares voting at the AETI special meeting of stockholders voted in favor of the proposal to issue shares of AETI common stock in connection with the share exchange. The holders of Stabilis have already approved the transaction.

Upon the closing of the share exchange, the owners of Stabilis will receive 90% of the shares of AETI to be outstanding at the completion date.

AETI expects the closing of the transaction to occur promptly, subject to the satisfaction of all closing conditions.

About Stabilis

Stabilis is a vertically integrated provider of small-scale liquefied natural gas (“LNG”) production, distribution and fueling services to multiple end markets in North America. Stabilis has safely delivered over 200 million gallons of LNG through more than 20,000 truck deliveries during its 15-year operating history, which it believes makes it one of the largest and most experienced small-scale LNG providers in North America. Stabilis’ customers use LNG as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis’ customers use LNG as an alternative to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions. Stabilis’ customers also use LNG as a “virtual pipeline” solution when natural gas pipelines are not available or are curtailed. Stabilis is headquartered in Houston, Texas.

About AETI

American Electric Technologies, Inc. is a leading provider of power delivery solutions to the global energy industry. AETI is headquartered in Houston, Texas and has global sales, support and manufacturing operations in Rio de Janeiro, Macaé and Belo Horizonte, Brazil. In addition, AETI has minority interest in a joint venture in Xian, China which manufactures power and control systems for land drilling rigs in China and other international markets.

Cautionary Note Concerning Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “can”, “believes,” “expects,” “could,” “will,” “plan,” “may,” “should,” “predicts,” “potential” and similar expressions are intended to identify such forward-looking statements. With regard to the pending business combination with Stabilis Energy LLC and its subsidiaries, forward looking statements include closing of the share exchange transaction, which cannot be assured.

Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs, based on information currently available. Most of these factors are outside the parties’ control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the possibility that the business combination does not close or that the closing may be delayed because conditions to the closing may not be satisfied, the performance of Stabilis and AETI, future demand for and price of LNG, availability and price of natural gas, unexpected costs, liabilities or delays in the business combination transaction, the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the share exchange agreement; and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors are contained in the definitive proxy statement filed by AETI with the SEC on June 13, 2019 and its Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April 16, 2019. All subsequent written and oral forward-looking statements concerning AETI and Stabilis, the business combination transaction described herein or other matters and attributable to AETI, Stabilis, or any person acting on behalf of any of them are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither AETI nor Stabilis undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor Contact:

American Electric Technologies, Inc.
Peter Menikoff
832-241-6330

investorrelations@aeti.com

AETI Announces Signing of a Definitive Share Exchange Agreement with Stabilis Energy to Create a Leading North American Small-Scale LNG Production and Distribution Platform

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FOR IMMEDIATE RELEASE DECEMBER 17, 2018

AETI Announces Signing of a Definitive Share Exchange Agreement with Stabilis Energy to Create a Leading North American Small-Scale LNG Production and Distribution Platform

HOUSTON, TX – American Electric Technologies, Inc. (NASDAQ: AETI) (“AETI” or the “Company”) has executed a definitive share exchange agreement with privately-held Stabilis Energy, LLC (“Stabilis”) and its subsidiaries to create one of the leading public small-scale liquefied natural gas (“LNG”) production and distribution companies in North America. The combined business will include Stabilis’ small-scale LNG production and distribution businesses as well as AETI’s existing international businesses (the “Combined Company”).

At the closing, Stabilis and its subsidiaries will become wholly-owned subsidiaries of AETI and the existing AETI shareholders will own 11% of the Combined Company. The former owners of Stabilis will own 89% of the Combined Company. After closing, James Reddinger, current President and Chief Executive Officer of Stabilis, will serve as President and Chief Executive Officer of the Combined Company. Casey Crenshaw, the controlling shareholder of Stabilis, will serve as Executive Chairman.

“AETI is pleased to announce this combination with Stabilis,” said Peter Menikoff, Chairman and Chief Executive Officer of AETI. “We believe the transaction will give the Company a substantial North American LNG business to complement its international operations. Additionally, we believe the transaction will benefit AETI by increasing the breadth of its operations to more comfortably support its fixed overhead expenses, de-leveraging its balance sheet, and facilitating access to capital.

Stabilis is a leader in the small-scale production and distribution of LNG in North America. Demand for natural gas for power generation and heating applications is increasing across multiple end markets, but many of these customers are not directly connected to a pipeline. Natural gas is liquefied so it can be transported efficiently via truck to these off-pipeline applications. LNG can be used to supplement existing natural gas fuel sources or to displace other fuel sources, including diesel fuel, fuel oil, and propane. North America’s abundant supply of natural gas can provide LNG customers lower costs and greater pricing stability when compared to other fuels. Customers utilizing natural gas fuel can also realize significant environmental benefits from reduced emissions of carbon dioxide, particulate matter and sulfur emissions, among others. Stabilis operates its LNG production business under the “Stabilis Energy” brand name and its LNG distribution business under the “Prometheus Energy” brand name, which we believe is one of the oldest and most recognized brand names in the small-scale LNG business.

Stabilis had net revenue of $26.5 million and Earnings before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) of $1.8 million during the nine months ending September 30, 2018. Stabilis delivered 26.5 million LNG gallons to its customers over the same period, a 75% increase over comparable 2017 deliveries. Stabilis’ operating assets include a 120,000 LNG-gallon per day production plant in George West, Texas, a 30,000 LNG-gallon per day production plant that is being relocated to the West Texas region, and a fleet of cryogenic rolling stock equipment that is capable of servicing customers throughout North America.

“We believe the combination of Stabilis and AETI will create a leading platform for growth and consolidation in the North American small-scale LNG industry,” said James Reddinger, President and Chief Executive Officer of Stabilis. “Stabilis plans to continue to invest in the assets and capabilities required to provide our customers with a low cost, reliable, and comprehensive LNG solution across North America.”

Following the closing, the Combined Company will continue to operate AETI’s existing Brazilian subsidiary and Chinese joint venture. Art Dauber, former Chairman and CEO of AETI, plans to join the Combined Company as President of International Operations and a member of the Board of Directors. Mr. Dauber will lead the development of Stabilis LNG operations in South America and China. He will also help deliver AETI’s expertise in power delivery and electrical systems to Stabilis’ power generation projects.

Casey Crenshaw, Executive Chairman of Stabilis, added, “We are pleased to combine our investments in AETI and Stabilis to create a public company growth platform in the small-scale LNG industry. We believe that small-scale LNG has tremendous growth potential across multiple end markets in North America, and this transaction gives us the opportunity to grow Stabilis’ footprint aggressively in the near future.”

Upon completion of the transaction, the Combined Company will be renamed “Stabilis Energy, Inc.” and will apply to continue trading on the NASDAQ Stock Market under the symbol SLNG.

Transaction Terms
Closing of the transaction is subject to certain closing conditions, including approval of the issuance of AETI common stock to acquire Stabilis and other transaction-related matters by the holders of AETI’s outstanding common stock and Series A Convertible Preferred Stock voting as a combined group. Certain shareholders of AETI are entering into a voting agreement concurrently with the definitive agreement pursuant to which they are agreeing to vote their respective shares in favor of the transaction at the special meeting. Each company has agreed to pay the other company’s expenses if the share exchange agreement is terminated under certain circumstances prior to the closing of the transaction. The transaction is expected to close during the first quarter of 2019, subject to customary closing conditions.
AETI’s Board of Directors has determined that the share exchange agreement is fair to and in the best interests of AETI and the holders of AETI’s common stock.
Stabilis is a privately-held company owned by LNG Investment Company, LLC, an entity controlled by Casey Crenshaw. Mr. Crenshaw is also President of The Modern Group, Ltd, a privately owned diversified manufacturing, parts and distribution, rental/leasing and finance business. Mr. Crenshaw, through his investment vehicle JCH Crenshaw Holdings, LLC, is currently an AETI common and Series A Convertible Preferred shareholder. Mr. Crenshaw is also a member of the AETI Board of Directors. As part of the transaction, Mr. Crenshaw will convert all of his AETI Series A Convertible Preferred stock into AETI common stock contemporaneously with the closing. Mr. Crenshaw will also restructure his and his affiliates’ debt investments at Stabilis to reduce leverage at the pro forma Combined Company.
Simmons Energy, a division of Piper Jaffray & Co., acted as transaction advisor and Thompson & Knight LLP acted as legal advisor to Stabilis. Oppenheimer acted as transaction advisor and Locke Lord LLP acted as legal advisor to AETI.
Investor Call
American Electric Technologies, Inc. (NASDAQ: AETI) has scheduled an investor update call on Thursday December 20, 2018 at 10:00 a.m. Eastern Time to discuss this transaction. Individuals who wish to participate in the conference call should dial +1 855-490-5692; passcode 111345 in the United States and Canada. International callers should dial +1 323-794-2442; passcode 111345.

About AETI
American Electric Technologies, Inc. (AETI) is a leading provider of power delivery solutions to the global energy industry. AETI is headquartered in Houston and has global sales, support and manufacturing operations in Rio de Janeiro, Macaé and Belo Horizonte, Brazil. In addition, AETI has minority interest in a joint venture in Xian, China. AETI’s SEC filings, news and product/service information are available at www.aeti.com.

Additional Information about the Transaction and Where to Find it
The proposed transaction has been approved by the board of directors of AETI and the owners of Stabilis, and will be submitted to shareholders of AETI for approval of the issuance of AETI common stock in connection with the transaction and other transaction-related matters at a Special Meeting of shareholders. In connection with that Special Meeting, AETI intends to file with the SEC a proxy statement containing information about the proposed transaction and the respective businesses of Stabilis and AETI. AETI will mail a definitive proxy statement and other relevant documents to its shareholders. AETI shareholders are urged to read the preliminary proxy statement and any amendments thereto and the definitive proxy statement in connection with AETI’s solicitation of proxies for the Special Meeting to approve the transaction-related matters, because these documents will contain important information about Stabilis, AETI and the proposed transaction. The definitive proxy statement will be mailed to shareholders of AETI as of a record date to be established for voting on the matters related to the proposed transaction. Shareholders will also be able to obtain a free copy of the proxy statement, as well as other filings containing information about AETI, without charge, at the SEC’s website (www.sec.gov). Copies of the AETI proxy statement can also be obtained free of charge by directing a request to Peter Menikoff, CEO of AETI, at (832) 241-6330 or by e-mail to investorrelations@aeti.com.

Participants in the Solicitation
AETI and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from AETI’s shareholders with respect to the proposed transaction. Information regarding AETI’s directors and executive officers is available in its annual report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on March 29, 2018. Additional information regarding the participants in the proxy solicitation relating to the proposed transaction and a description of their direct and indirect interests will be contained in the proxy statement when it becomes available.
Stabilis and its managers, directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of AETI in connection with the proposed transaction. A list of the names of such managers, directors and executive officers and information regarding their interests in the proposed transaction will be included in the proxy statement for the AETI Special Meeting of shareholders related to the proposed transaction when available.

Disclaimer
This press release is not a proxy statement or a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “believe,” “projected,” “believe,” “will,” “expect,” “plan,” “may,” “will,” “could,” “should,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, AETI’s expectations with respect to future performance of Stabilis, anticipated financial impacts of the proposed business combination, approval of the transaction-related matters by AETI’s shareholders, the satisfaction of the closing conditions to the transaction and the completion of the transaction.
Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs, based on information currently available. Most of these factors are outside the parties’ control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the possibility that the business combination does not close or that the closing may be delayed because conditions to the closing may not be satisfied, including the receipt of requisite AETI shareholder and other approvals, the performance of Stabilis and AETI, and the ability of AETI or, after the closing of the transaction, the Combined Company, to continue to meet The Nasdaq Capital Market’s listing standards; future demand for and price of LNG, availability and price of natural gas, unexpected costs, liabilities or delays in the business combination transaction, the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the share exchange agreement; and general economic conditions.
The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors are contained in AETI’s most recent filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on March 29, 2018 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed with the SEC on November 14, 2018. All subsequent written and oral forward-looking statements concerning AETI and Stabilis, the business combination transactions described herein or other matters and attributable to AETI, Stabilis, or any person acting on behalf of any of them are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither AETI nor Stabilis undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Investor Contact
American Electric Technologies, Inc. Peter Menikoff
Chief Executive Officer
(832) 241-6330
investorrelations@aeti.com

Stabilis Energy Announces Opening of West Texas LNG Fuel Depot

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Odessa, TX LNG fuel depot to provide convenient and reliable access to low-cost
Liquefied Natural Gas (LNG) in the Permian Basin and Surrounding Areas

Beaumont, TX,[March 14, 2018 – Stabilis Energy (“Stabilis”) announced the opening of a 40,000 gallon liquefied natural gas (LNG) fuel depot in Odessa, TX.  The LNG fuel depot will provide customers with convenient 24-hour access to LNG and related services.

“We are pleased to announce the opening of our West Texas LNG fuel depot,” said Steve Stump, Vice President of Sales at Stabilis Energy.  “Stabilis is committed to providing our customers with the most convenient, reliable, and cost effective LNG fuel solutions.  This fuel depot will serve our existing West Texas customers and make Stabilis LNG more readily available for new applications.”

“This fuel depot signals Stabilis’ commitment to providing reliable and cost effective LNG solutions to the West Texas market,” continued Jim Reddinger, President and CFO of Stabilis Energy.  “In addition to installing the fuel depot, Stabilis continues evaluate LNG production opportunities in West Texas.”

About Stabilis Energy

Stabilis Energy is a leading supplier of liquefied natural gas (LNG) to the industrial, midstream, and oilfield sectors in North America. Stabilis provides turnkey fuel solutions to help industrial users of diesel and other crude-based fuel products convert to LNG, resulting in reduced fuel costs and improved environmental footprint.  Stabilis opened its 120,000 gpd LNG production facility in George West, TX in January 2015 to service industrial and oilfield customers in Texas and the greater Gulf Coast region.  Stabilis is vertically integrated from LNG production through distribution and cryogenic equipment rental.  Stabilis is headquartered in Beaumont, TX and is privately held.  For more information, please visit: www.StabilisEnergy.com.

Contact Information

Steve Stump – VP Sales
Stabilis Energy
(614) 571-1952
Steve.Stump@stabilisenergy.com

Stabilis Energy Announces Acquisition of Prometheus Energy

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Stabilis Energy Announces Acquisition of Prometheus Energy
Prometheus to Operate as Independent Natural Gas Distribution Subsidiary of Stabilis Nationally; Stabilis to Focus on LNG Production Assets

Beaumont, TX, March 7, 2018 – Stabilis Energy (“Stabilis”) announced that it has completed the acquisition of a majority interest in Prometheus Energy (“Prometheus”). The acquisition combines two of the leading liquefied natural gas (“LNG”) production and distribution companies to form a full-service LNG provider capable of delivering LNG to customers in any end market and location in North America. Terms of the transaction were not disclosed. Prometheus will operate as the independent LNG distribution subsidiary of Stabilis. Prometheus provides mobile and stationary LNG solutions to industrial, utility, pipeline, high-horsepower and other remote customers. Customer solutions include supporting utilities with natural gas via LNG for flow assurance to address gas interruptions, gas curtailments and critical peak demand during extreme conditions. Prometheus will continue to purchase LNG from multiple producers to optimize fuel cost for its customers.
“We are pleased to announce the acquisition of Prometheus Energy,” said Casey Crenshaw, CEO of Stabilis Energy. “Prometheus was a pioneer in the LNG industry and it remains the premier small-scale LNG distribution and service company in the world. We believe this transaction will allow each company to grow aggressively in LNG production and distribution, respectively.” Jim Reddinger, President and CFO of Stabilis Energy added, “Stabilis’ LNG production plants will continue to provide reliable and cost-effective LNG to all customers and distribution channels.”
Jim Aivalis, CEO of Prometheus Energy added, “Prometheus remains fully committed to its current customers and business model. We are experiencing strong and growing demand for reliable and cost-effective natural gas solutions from our customers. The combination with Stabilis will provide Prometheus with added resources to better serve our customers as their need for LNG expands.”

About Stabilis Energy
Stabilis Energy is a leading supplier of liquefied natural gas (LNG) to the industrial, midstream, and oilfield sectors in North America. Stabilis provides turnkey fuel solutions to help industrial users of diesel and other crude-based fuel products convert to LNG, resulting in reduced fuel costs and improved environmental footprint. Stabilis opened its 120,000 gpd LNG production facility in George West, TX in January 2015 to service industrial and oilfield customers in Texas and the greater Gulf Coast region. Stabilis is vertically integrated from LNG production through distribution and cryogenic equipment rental. Stabilis is headquartered in Beaumont, TX and is privately held. For more information, please visit: www.StabilisEnergy.com.

About Prometheus Energy
Prometheus is a leader providing turnkey natural gas fueling solutions to the gas utility, industrial, power, pipeline and energy sectors in North America resulting in reduced fuel cost and environmental footprint for customers. The company is integrated across the natural gas supply chain from LNG & CNG sourcing, distribution, logistics, onsite equipment and field support. A pioneer in the industrial LNG market, Prometheus is recognized for its industry leadership and execution track record of over 140 successful customer projects and more than 18,000 LNG deliveries. Prometheus Energy is privately held and headquartered in Houston, Texas. For more information, please visit: www.PrometheusEnergy.com.

Contact Information
Jim Reddinger
Stabilis Energy
(409) 833-1115
jim.reddinger@stabilisenergy.com

Jim Aivalis
Prometheus Energy
(832) 456-6500
jaivalis@prometheusenergy.com

Stabilis Energy is given green light by Federal Regulators to Export LNG

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April 13, 2016. Stabilis Energy and Flint Hills Resources have been authorized by the Department of Energy to export 3.62 billion cubic feet of Natural Gas per year for the next 20 years from the George West facility located in the Eagle Ford shale.

For more information, full articles are located here.

http://www.bizjournals.com/sanantonio/blog/eagle-ford-shale-insight/2016/04/feds-approve-plans-to-export-eagle-ford-lng.html

http://www.lngindustry.com/liquefaction/18042016/Flint-Hills-Resources-granted-FTA-LNG-export-approval-2301/