Duos Technologies Energy Unit Signs Two-Year, $42 Million Gas Turbine Power Deal
Duos Technologies Group (DUOT) said Wednesday that its Duos Energy unit has signed a two-year, $42 million asset management agreement with affiliates of Fortress Investment Group to deploy and operate mobile gas turbines and other infrastructure with a combined power generation capacity of 850 megawatts.
The deal, which will close once customary closing conditions and regulatory approvals are met, states that Duos will oversee the management and deployment of the assets.
The deal is part of Duos' strategy to achieve profitability by fiscal 2025, the company said.
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