Duos Technologies Group, Inc. (NASDAQ: DUOT) experienced a notable rise in its stock value following the announcement of a pivotal agreement. As of the most recent check, DUOT shares climbed 20.63% to $5.55, reflecting investor confidence in the company’s latest developments.
Strategic Asset Management Agreement with Fortress
Duos Technologies’ subsidiary, Duos Energy Corporation, signed a two-year Asset Management Agreement (AMA) with affiliates of Fortress Investment Group. The agreement involves managing and deploying a fleet of mobile gas turbines and associated equipment with a combined generation capacity of 850 megawatts.
These assets, acquired by Fortress from APR Energy, will be overseen by Duos to support immediate-demand power projects, including partnerships with U.S.-based data center developers and international ventures.
Advancing Business Diversification and Profitability Goals
This agreement marks a strategic step in diversifying Duos Technologies’ operations. The mobile turbines cater to the growing global demand for flexible, high-capacity power solutions.
Unlike traditional utility power assets, which often face lengthy manufacturing lead times, these turbines can be deployed within weeks, providing immediate support for behind-the-meter (BTM) power needs. The contract, valued at an estimated $42 million over two years, aligns with the company’s broader strategy to achieve profitability by FY2025.
Formation of Duos Energy Corporation
In response to surging demand for power solutions, DUOT recently established Duos Energy Corporation. This move capitalizes on synergies between power generation and the rapidly growing data center industry. The initiative is further bolstered by Duos’ partnership with Fortress to deploy APR Energy assets.
Experienced Leadership Driving Innovation
Under CEO Chuck Ferry’s leadership, Duos Technologies has assembled a senior team with over a century of combined experience in power project management. This expertise includes installing and operating more than 1GW of fast-track power globally between 2016 and 2020.
With increasing grid constraints and rising energy needs, Duos Technologies (DUOT) is well-positioned to deliver efficient, immediately deployable power solutions, reinforcing its commitment to innovation and operational excellence.
