Stabilis Solutions Business Summary

Stabilis Solutions, Inc. (SLNG) is a vertically integrated energy transition firm that generates revenue through the production, distribution, and fueling of liquefied natural gas (LNG). Its business model comprises four primary segments—LNG Product, Rental, Service, and Other—with revenue primarily derived from fuel sales, cryogenic equipment leasing, and turnkey engineering support. The company specializes in "virtual pipeline" solutions, delivering LNG to underserved end markets including aerospace, marine bunkering, and remote power generation for data centers. Stabilis is currently transitioning its revenue mix toward long-term, ratable contracts, exemplified by its landmark 10-year marine bunkering agreement for the Galveston liquefaction facility. Direct competitors include OPAL Fuels, New Fortress Energy, Chart Industries, and Golar LNG; within this landscape, Stabilis differentiates itself as a small-scale, high-agility provider focused on niche, high-growth industrial applications. Stabilis was co-founded in 2013 by J. Casey Crenshaw and Stacey B. Crenshaw, with the former serving as the company’s majority shareholder. As of February 13, 2026, the executive leadership team is led by J. Casey Crenshaw, who maintains dual roles as Executive Chairman and Interim President & CEO, leveraging his extensive background as President and CEO of The Modern Group, Ltd. The senior management team includes Andrew Lewis Puhala as Senior Vice President and CFO, Matt Barclay as SVP of Marine, and Koby Knight as SVP of Plants, EPC, and Special Projects, who oversees the company's technical and engineering initiatives. The board of directors features co-founder Stacey B. Crenshaw and Ben Broussard, CFO of The Modern Group, ensuring strategic alignment with the company's founding roots. Major institutional backing is provided by investors such as Vanguard Group and Tieton Capital Management, supporting the company's expansion into large-scale infrastructure projects.