Duos Closes Asset Management Deal with Fortress Investment Group

Core Insights - Duos Technologies Group, Inc. has successfully closed an Asset Management Agreement with Fortress Investment Group, involving a fleet of 30 mobile gas-powered turbines capable of generating 850 megawatts of power, estimated to generate $42 million in revenue over two years and a 5% equity stake in the new venture [1][2][4] Group 1: Partnership and Asset Management - The assets will be managed in partnership with Fortress, providing a fast-track solution to meet urgent energy demands in critical sectors such as data centers [2][3] - The transaction was finalized on December 31, 2024, after fulfilling customary closing conditions and regulatory approvals [2] Group 2: Strategic Focus and Market Demand - Duos Energy Corporation, a subsidiary of Duos Technologies, will oversee the management and deployment of the turbine fleet to address growing energy demands across various sectors [3][5] - The company is actively engaging with U.S.-based data center developers and international energy projects for immediate deployment of the turbines, emphasizing its mission to deliver agile and scalable energy solutions [5] Group 3: Company Background - Duos Energy Corporation specializes in developing, owning, and operating sustainable energy projects, focusing on clean-burning natural gas generation and rapid deployment of off-grid power plants [6] - Fortress Investment Group manages $49 billion in assets as of September 30, 2024, serving approximately 2,000 institutional clients and private investors globally [7]