GALILEO GLOBAL TECHNOLOGIES ESTABLISHES A STRATEGIC PARTNERSHIP WITH BLUE WATER ENERGY TO GROW ITS GLOBAL PRESENCE AND REINFORCES ITS POSITION AS THE WORLD LEADER OF MODULAR CNG & LNG EQUIPMENT AND SOLUTIONS.
– Experienced management team led by Osvaldo del Campo
London, 25th May 2016 – Galileo Global Technologies (together with its subsidiaries referred to as “Galileo” or “the Company”), a world leading provider of modular CNG and LNG equipment has announced that it has formed a strategic partnership with Blue Water Energy, the private equity energy specialists based in London.
Since 1983 Galileo has established its self as a global supplier of technology in the gas compression sector with a full state-of-the-art product suite of Compressed Natural Gas (“CNG”) and micro to small scale Liquefied Natural Gas (“LNG”) solutions. Today, Galileo is at the forefront of new technologies in both of these sectors providing a range of products that are changing how the world uses portable gas.
Under the new partnership with BWE, and substantial growth equity funding, the Company will embark upon a series of growth initiatives, including the building of a new purpose designed plant in the city of San Martin, Buenos Aires, starting in July 2016. Aligned with the construction of the new plant, Galileo will also accelerate its research and new product development programmes and expect to be in a position to make some significant announcements in the next 6 months.
Together with Blue Water Energy, Galileo is going to drive the internationalisation and growth of its established business. One of Galileo’s leading products is “Cryobox”, a proprietary gas compression and liquefaction technology that can be applied to provide an economically effective and environmental-friendly fuel solution to a broad range of markets. The Cryobox enables switching from more expensive fuels, such as diesel and gasoline, to LNG across the marine, rail and road transportation markets. Furthermore, the Cryobox is being utilised to monetize stranded and flared gas resources, provide portable gas for distributed power generation and enables expensive diesel fuel dependent industries to make significant operational cost savings.
Osvaldo Del Campo, CEO of Galileo, commented, “I am thrilled to be partnering with experienced energy investors at Blue Water Energy and believe that together we can achieve a transformational development and globalisation of Galileo.”
Tom Sikorski, Partner BWE said “We look forward to the opportunity to work with a founder / entrepreneur like Osvaldo to significantly grow this company. We see this as a strategic time to be participating in the globalisation of gas resources and LNG. At Blue Water Energy we have high expectations for Galileo in the future and look forward to working with Osvaldo and his team.
Contacts – for all enquiries please contact one of the below:
Blue Water Energy contact:
T: +44 (0) 207 2905090
M: +44 (0) 7793 041618
About Galileo Technologies
Since 1987, Galileo Technologies has become a global leader in modular technologies for both CNG and LNG production and transportation. Galileo’s product offering includes the widest range of compressors and pumps for vehicles and vessels; pipeline boosters and wellhead compressors; and the Virtual Pipeline™ system, for gas shipment by road, thus reaching remote communities and industries without pipeline network connection. Based in Buenos Aires, Argentina, and with a Global Service and Training Hub in Los Angeles, USA, Galileo Technologies exports and provides ongoing assistance to customers in 70 countries in Latin America, North America, Europe, Africa and Asia.
For more information about Galileo Group, please visit www.galileoar.com