M&I Electric announces $6M of project awards for I

HOUSTON, Feb. 21, 2017 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc.  (NASDAQ: AETI ), a leading provider of power delivery solutions for the global energy industry, announced today that its M&I Electric business has been awarded multiple contracts to provide turnkey power delivery solutions for a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.

M&I received orders for IntelliSafe™ arc-resistant switchgear and M&I turnkey solutions to power a new pipeline designed to transport Permian Basin crude oil and condensate from the customer's Midland, Texas terminal to its storage facility west of Houston. M&I received a separate order for the IntelliSafe to provide safe power distribution for the expansion of the customer’s Houston-based terminal that provides crude storage capacity and a pipeline that links the terminal with refining facilities in the southeast Texas refinery market.

“Although arc-resistant switchgear has been used to enhance operator safety for many years in the refining and chemical markets, the midstream industry has traditionally been resistant to deploy arc-resistant switchgear due to perceptions of increased cost,” said Troy Coker, Vice President, North America Power Distribution at M&I.  “We are very pleased that our customer is leading the midstream industry by deploying M&I’s IntelliSafe arc-resistant technology to meet the growth requirements of their Permian crude project, while setting a new standard for increased electrical personnel protection for their pipeline and other midstream projects.

M&I Electric’s IntelliSafe™ arc-resistant medium voltage switchgear incorporates patent pending safety features, 100% PIP (Process Industry Practices) specification compliance, and industrial internet of things capabilities enabling a new level of safety for oil and gas, power generation, and other critical power projects. IntelliSafe is part of the M&I’s turnkey power delivery solutions portfolio which includes custom-designed medium and low voltage conventional switchgear, Power Distribution Centers (PDCs), power conversion systems, power management and SCADA systems, construction and E&I services.

About AETI:

American Electric Technologies, Inc. (NASDAQ: AETI ) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services. AETI is headquartered in Houston and has global operations in Beaumont, Texas; and Rio de Janeiro, Macae and Belo Horizonte Brazil. In addition, AETI has minority interests in two joint ventures, which have facilities located in Xian, China and Singapore. AETI’s SEC filings, news and product/service information are available at www.aeti.com .

Contact: Bill Brod Chief Financial Officer 713-644-8182