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On August 18, 2026, the Puerto Rico Electric Power Authority (PREPA) delivered formal notice terminating the Power…
FTKFlotek Industries Inc
On August 18, 2026, the Puerto Rico Electric Power Authority (PREPA) delivered formal notice terminating the Power Purchase and Operating Agreement with Flotek Industries. The termination was effective immediately based on two grounds: an event of default due to failure to furnish required performance security and compliance with the Oversight Board’s revocation of contract approval. Under the terminated agreement, Flotek expected to deploy up to six pairs of smart conditioning skids and 40 MW of power generation capacity for a potential 10-year revenue backlog of approximately $400 million. The company had not generated any revenue or commenced deployment under this contract. This termination does not affect Flotek’s previously issued 2026 financial guidance, which excluded contributions from the PREPA Contract. Flotek Industries operates in the energy technology sector, providing proprietary power conditioning and grid enhancement solutions.