NEW FORTRESS ENERGY INC.

(NFE)
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Delayed Nasdaq  -  04:00 2022-06-24 pm EDT
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New Fortress Energy : Basketball Africa League, New Fortress Energy and Trees for the Future Launch BAL Green Legacy School Project in Senegal

10/04/2021 | 03:03am EDT

The Basketball Africa League (BAL), New Fortress Energy (NASDAQ: NFE, a global energy infrastructure company founded to help accelerate the world's transition to clean energy) and Trees for the Future (an international non-profit organization focused on training farmers to regenerate their land) today launched the first BAL Green Legacy School Project at Lycee Yoff Village in Dakar, Senegal.

The BAL Legacy School Project is part of BAL Green, the league's environmental initiative that leverages the collective platform of the BAL, its teams, players and fans to advocate for greater environmental responsibility, make a positive impact on people's lives, and help develop the next generation of environmentally conscious leaders. As part of the initiative, the BAL provides select schools with resources to create real-life experiences that influence behavioral patterns, including improving access to water and sanitation, implementing school-wide recycling and composting programs, teaching gardening and agriculture, and establishing cleanup and planting days.

As part of the project launch at Lycee Yoff Village, the BAL, NFE and Trees for the Future together donated handwashing stations and recycling bins, cleared ecological waste from public spaces, expanded a Forest Garden, refurbished student desks and a well area, and created additional spaces where more than 2,000 students can live, learn and play. BAL President Amadou Gallo Fall, BAL Global Ambassador Luol Deng and Trees for the Future Director Cherif Djitte attended the launch event.

"The Green Legacy School Project is a great initiative to help educate the next generation about the importance of preserving our environment and inspire them to lead the way to a more sustainable future," said NFE Chairman and CEO, Wes Edens. "Protecting our environment while transitioning to cleaner, more affordable energy is central to our mission at NFE and we are proud to work with the BAL and Trees for the Future in this vital effort."

"We are excited to partner with NFE and Trees for the Future to launch our first Green Legacy School Project in Senegal," said Fall. "Following the BAL's successful inaugural season in May, we remain committed to making a positive impact in the communities in which we work and look forward to expanding our work with these partners in the years to come."

"We're honored to have the opportunity to share sustainable practices and agricultural lessons with the next generation of leaders in Senegal," said Djitte. "Our work with the BAL this year is critical to achieving impactful change for people and the planet."

During the inaugural BAL season in May 2021, the BAL and NFE collaborated with Trees for the Future to launch "Threes for Trees," which donated three trees for every three-pointer made during the BAL season. In total, the BAL and NFE donated $30,000 and more than 100,000 trees to farmers and non-profit environmental organizations in Senegal and other African countries.

Distributed by APO Group on behalf of National Basketball Association (NBA).

Media Contact:

Pawel Weszka

NBA Africa Communications

pweszka@nba.com

About New Fortress Energy Inc.:

New Fortress Energy is a global energy infrastructure company founded to help accelerate the world's transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

About the BAL:

The BAL, a partnership between the International Basketball Federation (FIBA) and the NBA, is a new professional league featuring 12 club teams from across Africa. The BAL builds on the foundation of club competitions FIBA Regional Office Africa has organized in Africa and marks the NBA's first collaboration to operate a league outside North America. Fans can follow the BAL on @theBAL on Twitter, Instagram, Facebook and YouTube and can register their interest in receiving more information at www.theBAL.com.

About Trees for the Future:

Trees for the Future is a regenerative agriculture education organization, teaching farmers and communities about sustainable land use practices. Trees for the Future has planted more than 225 million trees around the world and plans to reach one billion trees by 2030.

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 2 116 M - -
Net income 2022 621 M - -
Net Debt 2022 4 397 M - -
P/E ratio 2022 13,3x
Yield 2022 1,03%
Capitalization 8 151 M 8 151 M -
EV / Sales 2022 5,93x
EV / Sales 2023 3,68x
Nbr of Employees 671
Free-Float 45,3%
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Wesley Robert Edens Chairman & Chief Executive Officer
Christopher S. Guinta Chief Financial Officer
John Joseph Mack Independent Director
Desmond Iain Catterall Independent Director
David J. Grain Independent Director
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