[Context: On August 13, SeaOne Holdings announced receiving recognition for its compress gas liquids (CGL) project in the Carribbean. The company has raised more than $28m in equity capital, according to securities filings. capital Further details and related links are below.]
SeaOne Caribbean’s Fuels Supply Project Recognized As Caribbean And Latin America’s Top Strategic Infrastructure Project For 2018; Recognition at CG/LA Conference Validates SeaOne’s Mission to Solve Region’s High Electricity Cost Challenges —
HOUSTON, Aug. 13, 2018 /PRNewswire/ — SeaOne Caribbean, LLC (“SeaOne”), which is developing the Caribbean and Central American Fuels Supply Project for natural gas and natural gas liquid (“NGLs”) delivery, today announced that CG/LA Infrastructure has recognized SeaOne’s project as the region’s Top Strategic Infrastructure Project for 2018. The award was handed out at the recently-concluded CG/LA 16th Latin American & Caribbean Infrastructure Leadership Forum in Miami, Florida.
In determining SeaOne’s eligibility for this premier recognition, CG/LA examined the project’s, “long term benefits, the measurable opportunities that each project creates for the health, mobility, education and quality of life for citizens in their communities, their states and their countries.” CG/LA Infrastructure Inc. is the leading global consultancy offering strategic advisory and development services to the private and public infrastructure community.
Forrest Hoglund, SeaOne’s Chairman and CEO, stated, “The prosperity of many Caribbean, Central and South American countries is stymied by challenges related to expenditures on fuel and power generation that far outweigh other developed parts of the world. SeaOne’s technology and know-how solves this challenge through the use of the company’s patented technology that allows, for the first time, the importation of low-cost U.S. natural gas and NGLs in a single liquid cargo to regional customers who — for economic, environmental and regulatory reasons – are compelled to reduce their dependence on oil. We are pleased in the strong customer interest from key Caribbean and Central American countries to date, and are especially gratified that CG/LA has recognized SeaOne as the top regional infrastructure project for 2018.”
As a part of SeaOne’s Fuels Supply Project, SeaOne plans to build a Compressed Gas Liquid (“CGL”™) production and export terminal in Gulfport, MS, to deliver CGL to Caribbean and Central, and Latin American markets. SeaOne’s patented CGL process includes the manufacture of a solvated solution by chilling, pressurizing, and combining natural gas and NGLs. The final solvated CGL product includes methane, ethane, propane, butane, isobutene, and pentane. CGL presents an alternative to the high-cost and non-environmentally friendly fuel oil products the region currently uses for power generation and other fuel needs. SeaOne’s project will play a key role in assisting the countries of this region with achieving a sustainable energy economy.
Key, defining characteristics of SeaOne’s Caribbean and Central American Fuels Supply Project include the following assets:>>CGL Production and Export Facility to be located at the existing Port of Gulfport, Mississippi;>>Compressed Gas Liquid Carriers (“CGLCs”) for the marine transportation and delivery of the CGL cargo to markets;>>CGL Receiving Terminals located at markets in the Caribbean, Central and South America. The Dominican Republic is to serve as a Central Caribbean Hub and Colombia to serve as a Southern Caribbean Hub.
About SeaOne Holdings, LLC
Houston-based SeaOne Holdings, LLC (“SeaOne”) provides a patented Compressed Gas Liquid, or CGL Marine Gas Monetization System that provides a means to deliver natural gas and NGLs to regional markets at a significant discount to the current cost of fuel in the Caribbean, Central and Latin America. In this way, SeaOne aims to remake the energy cost and supply picture for the entire region, catalyzing new opportunities for economic growth and vitality and improving the lives of millions.