AFG Holdings Enters Arrangement with OPRA Turbines Group

Company Transfers Airem Energy Assets to Leading Gas Turbine Provider

Houston, TX, July 14, 2020 – AFG Holdings, Inc. today announced that they have finalized an agreement to sell majority interest in Airem Energy to the OPRA Turbines Group. Airem Energy offers small gas turbines and energy solutions for the market in the Americas and has a prior relationship with the OPRA Turbines Group.

The OPRA Turbines Group, a leading provider of clean gas turbines for distributed energy solutions, provides an ideal fit within their existing structure and growth strategy. Leveraging their existing partnership, Airem Energy brings a range of product, service and market experience to their portfolio.

Airem Energy will continue to market and service the innovative OP16 gas turbine package in the Americas. Designed for high fuel flexibility, long operating hours between major overhauls, the OP16 package offers a small footprint, enabling the resulting entities to provide more efficient energy solutions to their clients. The OP16 gas turbine has an all-radial design which provides robustness, reliability, high efficiency, and low emissions.

AFG Holdings, Inc. will continue to produce and market its reciprocal, natural gas DuraPax™ power system, and will also retain the right to produce turbine-based systems for hydraulic fracturing.

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