LNG developer NextDecade has completed a planned merger and opens for trading on the US Nasdaq exchange today.
The Kathleen Eisbrenner-led company now becomes NextDecade Corp following its reverse into a wholly-owned subsidiary of Harmony Merger Corp.
NextDecade’s common stock will now trade under the new ticker symbol “NEXT”.
Company founder and chief executive officer Eisbrenner said: “Today marks an important milestone for NextDecade. As a public company, NextDecade will be able to better serve its stakeholders and realize its goal of providing competitively-priced LNG to the global marketplace.”
Eric Rosenfeld, formerly chief executive of Harmony and now a member of NextDecade’s board of directors, said: “The LNG industry is in the midst of a global transformation and the United States is at the forefront of this changing industry.
He said the new outfit is “ideally suited to capitalise on this movement with its advantaged geographic location, experienced management team and advanced project portfolio.”
NextDecade, which was founded as a private company in 2010, is pursuing its Rio Grande LNG production project in South Texas on which the company anticipates taking a final investment decision next year.
The company has also struck a heads of agreement with Flex LNG to develop floating storage and regasification unit and dockside solutions.
This month NextDecade signed a memorandum of understanding with the Port of Cork Company to develop a three million tonnes per annum capacity FSRU project.
