Subsidiaries Duos Edge AI and Duos Energy to partner with Pampa Economic Development Corporation and Pampa Energy Center to develop high-density Data Center Development Parks
JACKSONVILLE, Fla., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. ("Duos” or the "Company”) (Nasdaq: DUOT), through its operating subsidiaries Duos Edge AI, Inc. ("Duos Edge AI”), and Duos Energy Corp. ("Duos Energy”), proudly announces a pivotal partnership with the Pampa Energy Center ("PEC”). This collaboration aims to develop high-density Data Center Development Parks powered by up to 500MW of natural gas self-generation, supplemented by up to 200MW of wind turbine generation and alternative fuel sources for redundancy. This 500+ acre project will transform Pampa Texas's infrastructure, create jobs, and drive technological and economic growth. This establishes Pampa as an epicenter to address the national shortage of High-Density Data Center (HDDC) capacity.
Shane Stokes (City Manager, Pampa, TX), Jimmy L. Keough (Commissioner Ward 3 Mayor protem, TX), Ted Hutto (Vice President, PEC), Doug Recker (President and Founder, Duos Edge AI), Ryan Bradley (Executive Director, PEDC, TX), and David Dorman (Director of Commercial Operations, Duos Energy Corp.)
Building on its proven expertise in deploying adaptive and scalable brick and mortar data centers, Duos Edge AI is streamlining project timelines, optimizing operations, and delivering bespoke infrastructure solutions for Pampa to support four 50MW HDDCs. In partnership with Fortress Investment Group, Duos Energy will ensure reliable energy for the HDDCs by providing up to 500MW of natural gas self-generation, bolstered by wind turbine generation and alternative fuel sources for enhanced redundancy. By the end of 2025, the first 50MW HDDC is planned to be operational. This integrated approach ensures sustainability and resilience to support Pampa's growing technological and economic needs.
"The US faces a tough challenge in alleviating the current data center demand shortfall, as well as building data centers with alternative energy sources. This collaboration helps to accomplish these challenges, as well as defines a new direction for the Texas panhandle and sets up Pampa to be a new technology leader in the High-Density Data Center landscape. We're excited to help set Pampa on an innovative path forward and create new jobs and economic development in the region through this collaboration,” said Doug Recker, President and Founder of Duos Edge AI.
"Duos Energy Corporation, partnered with Fortress Investment Group, recently signed a definitive agreement to manage 850MW of mobile gas turbines acquired from APR Energy. This strategic partnership with Pampa allows us to begin the deployment of these highly sought-after power generation assets starting in early 2025 and will provide a bridge to a long-term permanent power plant. We are honored to contribute to Pampa's economic growth and bright future,” stated Chuck Ferry, CEO of Duos.
"We are looking forward to collaborating with the Pampa Energy Center to deliver mission-critical power to this High-Density Data Center development. Duos Energy's turn-key solution will provide rapid-dispatch bridging power, seamlessly transitioning to a permanent facility. We are honored to contribute to the future economic growth and development of Pampa, Texas,” said David Dorman, Duos Energy's Director of Commercial Operations.
Glennette Goode, President of the Pampa Energy Center, added, "The partnership with Duos Edge AI, Duos Energy, and the Pampa Energy Center allows for the transformation of Pampa into a dynamic hub of innovation, enhanced connectivity, and economic strength. Our board has long focused on the need to diversify our commercial and industrial base. Located in the central United States and within the heart of the wind energy sector, we are poised for significant economic growth. This partnership is the first step in a journey to long-term prosperity in Pampa, Texas.”
To learn more about Duos Edge AI, visit: www.duosedge.ai
To learn more about Duos Energy Corp., visit www.duosenergycorp.com
To learn more about Duos Technologies, visit www.duostechnologies.com
To learn more about Fortress Investment Group, visit: www.fortress.com
To learn more about the Pampa Energy Center, visit: www.pampaedc.com
About the Pampa Energy Center
The Pampa Economic Development Corp has full membership interest in the Pampa Energy Center LLC, whose purpose is to encourage and promote industries of the community by directing attention to opportunities within the industrial, commercial, and agricultural sectors. We will strive to assist with needed resources and financial incentives to interested firms and entrepreneurs in startup, expansion or relocation to this area. The success of this mission will be demonstrated by sustained stability and growth of economic activity in Pampa. For more information, visit www.pampaedc.com.
About Duos Edge AI, Inc.
Duos Edge AI, Inc. is a subsidiary of Duos Technologies Group, Inc. (Nasdaq: DUOT). Duos Edge AI's mission is to bring advanced technology to underserved communities, particularly in education, healthcare, and rural industries, by deploying high-powered edge computing solutions that minimize latency and optimize performance. Duos Edge AI specializes in the deployment and operations of state-of-the-art Data Center solutions tailored to meet evolving needs in any environment. For more information, visit www.duosedge.ai.
About Duos Energy Corporation
Duos Energy Corporation, a subsidiary of Duos Technologies Group, Inc. (Nasdaq: DUOT), focuses on developing, owning, and operating sustainable energy projects to power Edge Data Centers and critical infrastructure industrial facilities across the United States. Specializing in clean-burning natural gas generation and green technologies, the company offers rapid deployment of dedicated off-grid power plants. With extensive industry experience, Duos Energy is dedicated to providing fast-track, reliable, and eco-friendly energy solutions that support mission-critical operations. For more information, visit www.duosenergycorp.com.
About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence ("AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com, www.duosedge.ai and www.duosenergycorp.com.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $48 billion of assets under management as of June 30, 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. For more information, please visit www.fortress.com.
Forward- Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
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CONTACT: Contacts
Corporate
Fei Kwong
Director, Corporate Communications
Duos Technologies Group, Inc. (Nasdaq: DUOT)
+1.904.652.1625
Duos Edge AI
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iMiller Public Relations
+1.914.315.6424
