Flotek wins 10-year PREPA contract with $400M revenue backlog

Flotek Industries, Inc. (NYSE: FTK) announced a 10-year agreement to support a 400 MW natural gas-fired power generation project for the Puerto Rico Electric Power Authority (PREPA), according to a company press release.

Flotek has partnered with Power Expectations LLC, which leads the group executing the Emergency Temporary Power Generation Puerto Rico project. Under the agreement, Flotek expects to generate approximately $400 million in revenue over the contract term, with annual revenue at full deployment expected to reach approximately $40 million.

Flotek's scope includes supplying up to 40 MW of primary power generation capacity and up to six pairs of smart conditioning and distribution skids as part of its PWRtek platform. The company's portion represents approximately 10% of the overall 400 MW project.

Support equipment deployment is expected to begin in the fourth quarter of 2026, with initial power generation equipment and conditioning and distribution skids expected by the end of the first quarter of 2027.

"This contract exemplifies the execution of our corporate strategy and strengthens the momentum of Flotek's industrialized pivot to a data-driven technology leader," said Dr. Ryan Ezell, CEO of Flotek Industries.

Flotek said it plans to release its second quarter 2026 financial results after market close on Aug. 4, 2026, and host an earnings conference call on Aug. 5, 2026, at 9:00 a.m. CT, during which additional details of the contract are expected to be discussed.

Flotek is based in Houston, Texas.

You May Also Be Interested In

• Ardent Health revises 2025 non-GAAP figures after SEC staff talks
• SoundHound AI completes LivePerson acquisition, names new CFO
• EU proposes to curb Airbnb and short-term rentals amid housing shortage