Argan, Inc.'s Wholly Owned Subsidiary Gemma Power Systems Receives Limited Notice to Proceed for Combined Cycle Power Project From Moxie Freedom LLC

Argan, Inc. announced that its wholly owned subsidiary, Gemma Power Systems (GPS) has entered into an EPC Agreement with Moxie Freedom LLC and received a limited notice to proceed to commence early activities for the engineering, procurement and construction of a 1,000 MW combined cycle power plant to be located in Luzerne County, PA. Moxie Freedom is an affiliate of Moxie Energy, LLC. The contract is expected to be completed by mid-2018.
 
Rainer Bosselmann, Chairman and CEO of Argan, Inc., stated, “We’re excited to continue our relationship with Moxie Energy and we look forward to constructing another large scale, state of the art power facility in Pennsylvania.”
 
Argan, Inc.