Latest news with #NextNRG
Yahoo
16-07-2025
- Business
- Yahoo
NextNRG (NXXT) Targets $75M Capital Injection
NextNRG Inc. (NASDAQ:) is one of the best green energy penny stocks to buy right now. On July 3, the company announced an at-the-market sales agreement with ThinkEquity LLC, H.C. Wainwright & Co., LLC, and Roth Capital Partners, LLC. Under the terms of the contract, the company is to offer its shares of common stock to the public. An aerial view of a solar power plant, the sun's rays illuminating the surrounding landscape. The company is targeting up to $75 million from the offering. The sales agents are tasked with using all commercially available efforts to sell NextNRG shares at any specified price, time, and size limits. In return, the company is to pay the agents a fixed commission rate of 3% of the gross proceeds. The offering comes on the heels of NextNRG's acquisition of ReFuel Mobile, a Canadian mobile refueling company. The acquisition marks the company's first international expansion and is expected to close on August 1. NextNRG Inc. (NASDAQ:NXXT) is a provider of renewable energy and mobile fueling solutions. It develops and deploys integrated energy systems, including solar power generation, battery storage, wireless EV charging, and on-demand fuel delivery. While we acknowledge the potential of NXXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Most Popular AI Penny Stocks to Buy According to Billionaires and 10 Best Defensive Stocks to Buy in a Volatile Market. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
14-07-2025
- Business
- Yahoo
NextNRG (NXXT) Targets $75M Capital Injection
NextNRG Inc. (NASDAQ:) is one of the best green energy penny stocks to buy right now. On July 3, the company announced an at-the-market sales agreement with ThinkEquity LLC, H.C. Wainwright & Co., LLC, and Roth Capital Partners, LLC. Under the terms of the contract, the company is to offer its shares of common stock to the public. An aerial view of a solar power plant, the sun's rays illuminating the surrounding landscape. The company is targeting up to $75 million from the offering. The sales agents are tasked with using all commercially available efforts to sell NextNRG shares at any specified price, time, and size limits. In return, the company is to pay the agents a fixed commission rate of 3% of the gross proceeds. The offering comes on the heels of NextNRG's acquisition of ReFuel Mobile, a Canadian mobile refueling company. The acquisition marks the company's first international expansion and is expected to close on August 1. NextNRG Inc. (NASDAQ:NXXT) is a provider of renewable energy and mobile fueling solutions. It develops and deploys integrated energy systems, including solar power generation, battery storage, wireless EV charging, and on-demand fuel delivery. While we acknowledge the potential of NXXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Most Popular AI Penny Stocks to Buy According to Billionaires and 10 Best Defensive Stocks to Buy in a Volatile Market. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
30-06-2025
- Business
- Associated Press
NextNRG Signs LOI to Acquire ReFuel Mobile, Preparing for International Expansion with Canadian Mobile Fueling Leader
Acquisition adds profitable, high-growth platform serving Ontario's commercial and industrial sectors while expanding NextNRG's mobile fueling operations into Canada ReFuel Mobile ranked #36 on Globe and Mail's fastest-growing companies with 1,166% three-year revenue growth MIAMI, June 30, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered through its Next Utility Operating System®, smart microgrids, wireless EV charging, and mobile fuel delivery, today announced it has signed a letter of intent to acquire ReFuel Mobile ('ReFuel') (2583231 Ontario Inc.), a leading Canadian mobile fueling company. This acquisition marks NextNRG's entry into international markets through the addition of an established, profitable operation in Canada's largest province. ReFuel, founded in 2016 and based in Ontario, Canada, specializes in direct-to-vehicle and direct-to-equipment fuel delivery, serving commercial and industrial clients across transportation, construction, logistics, telecom, municipalities, dealerships, and industrial fleet sectors. ReFuel has demonstrated an exceptional growth trajectory, ranking #36 on the Globe and Mail's list of Canada's fastest-growing companies with a remarkable 1,166% three-year revenue growth. The company is currently profitable, showcasing the strength of its monthly recurring business model and contract-based operations with minimal customer churn. Under the terms of the non-binding letter of intent, NextNRG will acquire 100% of ReFuel's stock payable in cash or NextNRG restricted common stock at NextNRG's discretion. The transaction includes retention of all current employees and management during a transitional period. Closing is expected by August 1, 2025, subject to completion of due diligence, audited financial statements, and execution of a definitive agreement. 'This strategic acquisition marks an important milestone as we extend NextNRG's mobile fueling leadership into international markets,' said Michael D. Farkas, Founder and CEO of NextNRG. 'ReFuel's proven track record of profitable growth, exceptional customer retention, and established market presence in Ontario positions us to capitalize on expanding opportunities across Canada. Their technology-driven approach and operational excellence align perfectly with our strategy of scaling AI-optimized energy solutions globally. The combination of this strategic addition with our accelerating organic growth gives us confidence that forward 12-month revenues of $100 million should be achievable.' The acquisition builds on NextNRG's recent domestic expansion across six U.S. states with its fleet of 144 active fuel delivery trucks, and follows the company's strategic partnership with Hudson Sustainable Group and inclusion in the Russell 2000® and Russell 3000® indexes. ReFuel's proprietary AWS-hosted software platform for operations and customer scheduling will integrate with NextNRG's existing technology infrastructure to enhance service delivery and operational efficiency. ReFuel currently serves the Greater Toronto Area (GTA), Hamilton, Oakville, London, and Kitchener markets with plans to expand into additional Ontario regions including Ottawa and Kingston, as well as Quebec markets including Montreal. The company holds TSSA certification and maintains full compliance with federal and provincial fuel handling and safety regulations. Refuel's customers include: Napa Auto Parts, Autos Canada, Magil Construction, and Fanshawe College. 'We're excited to join the NextNRG family and leverage their resources and technology to accelerate our expansion plans,' said Ashraf Ghadban, Co-Founder and CEO of ReFuel Mobile, who plans to stay on and assist with the transition. 'This transaction will enable Refuel to enhance its service offerings, expand its geographic reach, and continue delivering exceptional value to its growing customer base across Canada.' The acquisition is expected to immediately contribute to NextNRG's recurring revenue base while providing a strategic platform for further expansion across Canada and potential entry into additional international markets. ReFuel's focus on innovation includes plans to expand into biofuels and bulk DEF solutions, aligning with NextNRG's commitment to advancing sustainable energy adoption. NextNRG has demonstrated strong momentum, with preliminary May 2025 revenue of $6.6 million representing 148% year-over-year growth and marking the company's fifth consecutive record month. Year-to-date revenue through May reached approximately $28.89 million, already surpassing full-year 2024 revenue of approximately $27 million. The addition of ReFuel's established Canadian operations is expected to further strengthen NextNRG's position as a leader in the on-demand fueling industry while supporting the company's long-term strategy of building integrated energy ecosystems globally. About ReFuel Mobile Founded in 2016 with the mission to simplify and modernize on-demand fuel delivery, ReFuel Mobile serves commercial and industrial clients across Ontario, Canada. The company specializes in direct-to-vehicle and direct-to-equipment fuel delivery, offering convenient, cost-effective, and reliable solutions to businesses across dealerships, transportation, logistics, construction, telecom, and energy sectors. With a focus on innovation, ReFuel Mobile is modernizing traditional fueling through a mobile-first, efficient model backed by strong operational execution and proprietary technology. The company was ranked #36 on the Globe and Mail's list of Canada's fastest-growing companies with 1,166% three-year revenue growth. About NextNRG, Inc. NextNRG Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem. At the core of NextNRG's strategy is its Next Utility Operating System®, which leverages AI and ML to help make existing utilities' energy management as efficient as possible; and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, healthcare campuses, universities, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives. NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, providing fuel delivery while advancing efficient energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions. To find out more visit: Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as 'expect,' 'intends,' 'will,' and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. Investor Relations Contact: NextNRG, Inc. Sharon Cohen [email protected]
Yahoo
13-06-2025
- Business
- Yahoo
NextNRG and Hudson link to boost US energy infrastructure
AI-driven energy solutions provider NextNRG has entered a strategic partnership with private equity company Hudson Sustainable Group for collaborative development, financing and the deployment of a portfolio of energy infrastructure across the US. The energy assets portfolio encompasses utility-scale solar, battery storage, distributed smart microgrids, advanced charging infrastructure for electric vehicles and NextNRG's proprietary Next Utility operating system. Hudson will be preferentially considered for providing funds for chosen projects within NextNRG's expanding pipeline across the US under the master framework agreement. NextNRG founder and CEO Michael D Farkas stated: 'This partnership with Hudson enhances our ability to scale AI-optimised, distributed energy infrastructure at a time when demand for smarter, more resilient power solutions is accelerating. 'By aligning innovation with growth capital, we believe we're well positioned to drive project execution, strengthen our commercial pipeline and advance the deployment of next-generation systems that can reduce cost, improve reliability and support the evolving energy needs of both today and tomorrow.' The execution of individual project financings and the specific terms will be subject to thorough due diligence, mutual consent and the completion of definitive documentation. The partnership grants NextNRG access to Hudson-led development opportunities in sectors such as fleet electrification, data centre power and municipal energy resiliency. This collaboration will leverage Hudson's experience in mobilising and deploying capital in renewable power, energy efficiency and clean transport infrastructure. Hudson has a track record of investing more than $13bn in such projects. Hudson previously backed significant global entities Recurrent Energy, Sunlight Financial, Powermat and Landis + Gyr in the clean energy sector. Hudson Sustainable Group founder and CEO Neil Auerbach stated: 'Michael is a pioneer in EV charging and a seasoned entrepreneur. The technology under the hood at NextNRG is breathtaking in its scope and potential. We look forward to assisting the company in monetising both its IP and downstream portfolios.' "NextNRG and Hudson link to boost US energy infrastructure" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Q1 2025 NextNRG Inc Earnings Call
Jeff Ramson; Investor Relations; PCG Advisory Group Michael Farkas; Executive Chairman of the Board, Chief Executive Officer; NextNRG Inc Joel Kleiner; Chief Financial Officer; NextNRG Inc Operator Good day and welcome to the NextNRG first quarter 2025 financial call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Jeff Ramson, CEO of PCG Advisory. Please go ahead. Jeff Ramson Thank you, operator. Good morning, everyone, and thank you for joining us today. With me are Michael Farkas, CEO of NextNRG; and Joel Kleiner, its CFO. Before we begin, please note that today's call may contain forward-looking statements based on current expectations and assumptions. These are subject to risks and uncertainties, and actual results may differ materially. For a more complete discussion, please refer to our Form 10-Q for the quarter ended March 31, 2025, filed with the SEC. With that, I'll turn the call over to CEO, Michael Farkas. Michael Farkas Thank you, Jeff. Good morning, everyone. The first quarter of 2025 was nothing short of transformational for NextNRG, a true inflection point in our journey. We are not just scaling. We are surging forward with momentum that reflects the strength of our vision and the power of execution. Revenue soared to $16.3 million in Q1 2025, marking a remarkable 146% increase year over year. This explosive growth was fueled by the expansion of our mobile fueling operations and a series of bold strategic acquisitions that are already delivering outsized returns. On the operational front, our delivery volumes rose to over 4.7 million gallons up from 1.7 million gallons in Q1 2024, a staggering 183% increase. This leap underscores the seamless integration of the Shell and Yoshi fleet assets along with the onboarding of major national accounts, including the world's largest e-commerce company, a partnership that speaks volumes about the caliber of our capabilities. Excuse me -- demand of our fueling solutions is not just growing, it's accelerating. To meet it, we've expanded into multiple new states, extending our footprint across the nation. Meanwhile, our technology pipeline is gaining serious transaction. From smart microgrid developments to cutting-edge wireless EV charging, we are laying the digital and physical infrastructure for a distributed, intelligent and sustainable energy future. NextNRG is not just growing. We are defining the future of energy, 1 gallon, 1 watt and 1 breakthrough at a time. Now I'll hand it over to our CFO, Joel Kleiner, for a deeper look at our financials. Joel Kleiner Thank you, Michael. The first quarter of 2025 was a defining chapter in NextNRG's growth story. For the first three months ended March 31, NextNRG generated $16.3 million in revenue, a 146% increase from $6.6 million in Q1 2024. This powerful performance was driven by a triple force of increased fleet volume, strategic pricing initiatives and rapid geographic expansion. Cost of sales rose to $15.8 million, up from $6.1 million in the previous year, resulting in gross profit of approximately $517,000. While gross margins narrowed due to strategic spending on fleet scaling and other expansion costs, initiatives like volume-based discounting and delivery optimization position us for improved margins in the quarters ahead. Operating expenses totaled $6.3 million, the bulk of which $5.5 million was G&A with an additional $733,000 in depreciation and amortization. This brought our loss from operations to $5.8 million, up from $1.9 million in the same period last year, a reflection of our aggressive investment in infrastructure, talent and innovation to support future gains. We also recorded $3.2 million in net and other net expenses, primarily driven by interest on debt financing. This brought our net loss available to common shareholders to $8.9 million or $1.6 per share compared to $2.7 million or $1.48 per share in Q1 2024. Despite these near-term losses, our balance sheet reflects growing strength. We closed the quarter with $2.1 million in cash, a 31% increase from $1.6 million at year-end. Accounts receivables also saw a significant growth, rising to $3.9 million, more than doubling from $1.6 million in Q1 2024, reflecting the strong sales momentum. Additionally, we successfully raised over $50 million in equity financing during the quarter, a strong vote of confidence in our strategy and a critical infusion of capital to fuel our bold national expansion. Back to you, Michael. Michael Farkas Thanks, Joel. As we look ahead, our focus is anchored in five bold growth initiatives that position NextNRG at the forefront of energy innovation. Number one, we're making significant progress on our first smart microgrid deployment in Northern Florida, a major milestone in our vision to create resilient, intelligent energy systems that operate at the edge of the grid. In South Florida, we're developing a cutting-edge wireless EV charging pilot featuring bidirectional capabilities, a glimpse into a future where vehicles aren't just consumers of energy, but active participants in the grid. Number three, our mobile fueling operations are accelerating at full throttle. We're now live in more than a dozen major cities and expanding rapidly, delivering convenience and sustainability at scale. Number four, we're locking new revenue streams by activating SaaS and licensing models tied to our proprietary energy infrastructure technologies. And five, we are finally finalizing a partnership with a seasoned industry financer in the sustainable energy sector. And together, we will secure financing, advance our technology and scale our 1 gigawatt -- over 1 gigawatts of utility microgrid projects in our pipeline. We believe we are uniquely positioned at the nexus of mobile logistics, AI-powered energy infrastructure and clean transportation. Thank you to our employees, partners and shareholders. Your belief in our mission powers everything we do. Operator And at this time we will now begin the question-and-answer session. Jeff Ramson I'm sorry, I was on mute. I'm going to share questions that we received from investors. Michael, where are you with wireless charging? Michael Farkas Great question. As mentioned earlier, we are in the process of deploying and developing a prototype pilot in Southern Florida that for the first time anywhere on the planet is going to incorporate wireless charging and bidirectional capabilities. That's something that we have a patent on, and we're going to be deploying that technology. In addition, because of the needs of certain customers of ours, especially those that are heavily invested in warehouses, logistics, delivery and so on and through conversations with our biggest customer, we see that there's a major need of this technology, not just outside on the streets, but literally in these facilities and not just for passenger vehicles, but for forklifts and robotics and all these types of equipment that are currently being used by these companies. And because of them not being able to be charged wirelessly and in motion, they need a substantial amount more of that equipment in order that once it's charging and offline that they have other equipment operating. And through our technology, certain equipment, these vendors will be able to reduce the amount of -- by [a third and other equipment by a half] and considerably change the entire footprint of these locations. So this technology that we have on the wireless charging side is not just for passenger vehicles and delivery vehicles, but it could really be used. And I believe the biggest beneficiaries are -- it's going to be inside the buildings, inside these manufacturing facilities, inside these logistical centers. So we're very excited about being able to show our technology in that environment as well. Jeff Ramson Another question I have here is, how do you view NextNRG's differentiation versus other mobile fueling or microgrid players in the market? Michael Farkas Excellent question. I think when you understand our business and you look at the EzFill component and you look at our smart microgrid technologies and you look at smart microgrid and you combine all of this together, you really realize that it's a solution that's necessary. There's no other company today that can literally fill your internal combustion engine vehicle at your facility now, assist you with providing charging services for the vehicles that you're using today that may need some wires and then also provide you with wireless charging in the future. But it's not only that. The smart microgrid component allows us to generate that electricity at your location. So you don't have to rely solely upon the grid. So the biggest problem today, and most people don't realize this, for fleets to be able to go ahead and electrify, it's not about getting a charging station anymore. It's not about getting the vehicles. Those are plenty. You get massive of those. The problem today is actually getting the power at these locations to be able to provide the fuel for those vehicles. And the only company today that can really hold your hand and take you through that entire process and assist you in not only producing the energy for your vehicles, but for your entire facility. That's what having all of these different components of our business allows us to do. We could fill your vehicle today with EzFill. We could charge your vehicle today using typical means. In the future, we'll be able to use wireless charging. And at the same time, we'll be able to power your facility store the energy there and then allow that energy to be used not only for your fleets and for mobility, but literally for your electronics, for your air conditioning, for your computers, for your robotics. That really separates us from every other single player out there. There's no one that has these capabilities internally. And more importantly, nobody has the technology, the IT and the patents that we do that allow us to provide these services. Jeff Ramson Great. One other question. So can you talk about AI-powered energy infrastructure and maybe some examples of how it's being implemented? Michael Farkas Yes. Okay. So when you're looking at a broad-based grid scale deployment of AI, it really hasn't been done except for one place, which is Florida Power Light. The technology that was developed in that $850 million Department of Energy collaboration between NextNRG, Florida Power Light, FIU, which is the university that we got the technology from and the Department of Energy, that really was the first implementation of AI and machine learning broad-based deployment throughout the utility grid. And what happened was that technology took FPL from being one of the worst performing utilities in the United States to literally the most efficient in the world. And all of that technology that was developed under that program ultimately is now ours. We licensed -- we acquired a company that licensed all of that technology. There was a portfolio of patents, four of them pertain to smart microgrid and utility operating system technologies and three of them were focused on wireless EV charging. It's very important to note that on our utility operating system technology, that's really where you see the deployment of AI throughout the grid. The efficiencies that Florida Power Light receives now allowed them in 2024 to reduce the cost of electricity to their consumers twice. No other utility in the world was able to do that. And really, what this technology does is it allows utility grids to better predict what actual demand is going to be. The way utility grid works today is there's supply and demand, and they always need to create way more supply than demand requires because it's not, if there's ever a spike, that's when you have brownouts and blackouts and issues that you see in Puerto Rico and what we saw in Europe the last couple of weeks. So what our technology does, it's able to monitor and understand and predict what that actual demand is going to be. And then we're able to supply the right amount of electricity for that. You're talking savings 10%, 12%, 15% and even 17%. These are massive, massive savings. And it's very, very, very beneficial for utilities to implement this technology. No one has done it besides FPL. Our role now after gaining control of this technology is to allow and assist other utilities to deploy that exact same technology. Jeff Ramson Got it. Okay. Great. I don't have any other questions here, Michael. Operator This concludes our question-and-answer session. I would like to turn the conference back over to Michael Farkas for any closing remarks. Michael Farkas Yes, it was a pleasure. Keep on focusing on looking at what we're doing. Every day, we're having additional developments. We're at really an amazing point in the business. We're starting to really see a major convergence between all of these different services. There are many, many fleet operators out there, hundreds of millions of vehicles globally that need services that we provide. And little by little, we're getting that traction, and we believe that we're going to make a big impact in the energy markets globally. Thank you. Operator The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.
