Excelerate Energy has been in the news quite a lot as of late. Much of it has to do with how the company chooses to create natural gas, through dedicated floating regasification terminals. In short, they take liquid natural gas and heat it to a point where it becomes a gas that can then be used for energy in homes and businesses. In their particular case, everything is done off-shore through these floating stations. If that has your attention, here are 20 more things about the company you might want to know.
1. They pride themselves on their ability to solve problems
There's no doubt about it, the company definitely prides itself on its ability to overcome challenges, no matter how complicated they might be. That's largely because the very nature of their business in and of itself has forced them to learn how to overcome challenges and solve problems in a way that few other companies could ever do. That in turn has given them the ability to provide energy effectively when other companies might fall short.
2. They routinely provide energy to entire countries
This is a company that is easily capable of providing clean energy to entire countries, something that a lot of companies simply cannot do. The truth of the matter is that when they are needed, they can take their ships to an area, dock near it and then be up and running in order to provide effective, clean energy in a matter of days, not weeks or months.
3. They do business all over the world
Since they do everything from ships, they're capable of going anywhere in the world. That's definitely not something that a lot of companies can do, as the very design of their business plan requires them to stay in one place. This particular company is capable of doing the exact opposite and that makes them more flexible when it comes to doing things that need to be done in order to ensure that everyone around the globe has clean energy. In short, they're capable of successfully doing business in places where other companies simply cannot go because they don't have the type of business plan that allows them to do so.
4. They tend to take their ships places that others wouldn’t dare go
They don't just have the ability to go places that other companies can't go with their ships. They take their ships places that other people probably wouldn't dare to travel. That's largely because they routinely go to places that have been torn up by war as well as to Third World countries in an effort to deliver energy to everyone around the globe. That's definitely not the easiest thing to do, but they make it look like it's a lot easier than it actually is. As a result, companies have a tendency to depend on them for energy when they might not otherwise be able to get the clean energy they need to turn on lights or to heat or cool homes in any capacity. The idea is to make countries that don't have access to this kind of stuff more self-sufficient by providing them with the help that they need. That's something that this particular company has prided itself on being able to do for some time now.
5. They keep their costs down so third-world countries can afford to use their energy
Since they routinely deal with Third World countries, they also work tirelessly to keep costs down so that they can provide energy to these countries. The important thing to remember here is that Third World countries don't routinely have the resources to pay for energy or other necessities that many people in First World countries take for granted. That means that it won't be possible for them to access necessities such as clean energy unless the cost is brought down significantly. That's precisely what this company has done, providing energy at a cost that is far below what practically everyone else in the business is offering it for.
6. They have proven staying power
Clearly, their strategy works well. As a matter of fact, they've been in business for more than 60 years. It's not really all that often that you see an energy company that stays in business for so long, as the overwhelming majority of them have a tendency to come and go. The fact that they have been in business for this long speaks volumes in and of itself.
7. They typically pump money back into the economy
Another thing that makes them stand out is the fact that they have a tendency to put money back into the economy. Many times, these efforts have absolutely nothing to do with energy. For example, they might provide money to a local school or sponsor a sports team. Much of the time, they put money back into the economy in ways that benefit everyone living there as well as helping the environment. As far as some people are concerned, they're trying to shed the image that virtually every energy company has, the one that says they don't care about the environment and they'll do anything to make money. Whether that's the case or they're doing it because they genuinely want to help, their financial resources do indeed provide help to smaller communities that wouldn't have access to these types of resources through any other means.
8. They’ve been doing business for a very long time
It's already been mentioned that they've been in business for more than 60 years, but there's something even more important to discuss here. They also have done more business from an offshore perspective than any other company that's currently operating. That's important because it proves that they have staying power and it proves that they have the knowledge to do the job as safely as possible, something that is a huge benefit when you're talking about anything related to energy.
9. The company has a reputation for safety
As a matter of fact, the company has an excellent reputation for safety. Over the years, they've managed to bring more energy to countries that otherwise wouldn't have had access to it in a safer manner than practically anyone else that’s ever been in business. They’ve had fewer accidents than other companies and because of their staunch safety practices, they've had much less of a negative impact on the environment than a lot of other companies that work in the same industry.
10. They’ve transferred more liquid natural gas than any other company
To date, they've transferred more liquid natural gas from one ship to another than any other company. In fact, no other company even comes close. That's because they have transferred literally millions of cubic feet of liquid natural gas from one location to another successfully over the course of more than six decades in business.
11. They’re based in Texas
It might not surprise you to learn that they're based in Texas, as a lot of energy companies are based in the area. However, where most of these companies are based in towns like Dallas or Houston, this particular company is in The Woodlands. They may have one home office, but the truth is, they can operate anywhere in the world.
12. They get involved in environmental responsibility in a big way
It's already been mentioned that they tend to get involved in the community and that their involvement often has something to do with protecting the environment. It's not at all uncommon to see them actively working to reduce beach erosion or to bring native plants back to an area that has been decimated by harmful activities. It's not something you see everyday from an energy company, but it is quite refreshing.
13. They’re keen on leaving things better than they found them
You can even safely say that the company is keen on leaving things better than they found them. Where most energy companies have a goal of not causing harm to the environment, this particular company has a different goal altogether. They want to improve the state of things with regards to how things were before they came to a region. Even if that has absolutely nothing to do with energy use, their goal is to impact every place they serve in a positive manner. As previously mentioned, this is typically accomplished through improving the environment or pumping money into a community in one way or another.
14. They use heat exchangers to convert liquid natural gas
If you're wondering how they managed to convert liquid natural gas into a gaseous state, especially when they're on a ship floating in the water, you might want to know that they do it with the use of heat exchangers (https://www.econnectenergy.com/articles/how-does-regasification-of-lng-work). The idea is to heat the liquid natural gas to a point where it changes into a gaseous state and then store that product until it's needed for use. It might sound dangerous, but it's actually one of the safer ways of converting and storing energy, not to mention one that is extremely effective, even when the typical infrastructure isn't in place.
15. The company has special floating vessels to store their product
The company routinely uses special vessels called floating storage units that are capable of storing their product once it's transferred into a gaseous state. These vessels can then float near an area and effectively provide energy to them for as long as they need them to be there.
16. They don’t have as many employees as you might think
You might think that a company like this would literally have thousands of employees, but that is a misconception that a lot of people have. In reality, they're typically surprised to learn that the company operates with fewer than 100 employees more often than not (https://www.iposcoop.com/ipo/excelerate-energy-inc/). As a matter of fact, that number can fluctuate a great deal from just over 50 to slightly less than 100, depending on exactly which project the company is working on at any given point in time.
17. Unlike a number of other energy companies, they routinely report a profit
Another thing that makes the company stand out when compared to the competition is that they typically report a profit instead of operating in the red. Energy companies can be difficult to operate because the market itself is so fickle. That's especially true when you're talking about a company that is as innovative as this one, often employing technology that most companies don't utilize or employing that technology in Third World countries where their presence isn’t going to be as profitable as it would otherwise be. Despite that fact, they’ve clearly found a way to be successful with the business side of things while simultaneously providing energy to those who need it most.
18. Part of their success comes from the speed at which they deploy their ships
At least part of their financial success comes from the fact that they can typically deploy ships and be up and running in roughly half the time that it would take to build a land-based terminal. That allows them to do twice the business of the majority of their competition, hence the reason that they have a tendency to make more money.
19. They are always looking toward the future
This is a company that is always looking toward new ways of doing things (https://twitter.com/Excelerate_LP?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor). Otherwise, they never would have managed to stay in business for as long as they have. As new technology comes along, they find effective ways to utilize it. In fact, they are often the ones that develop new technology as a means of making energy more effective, safer and more affordable.
20. They place a premium on the idea of being more bold than afraid
One of the things that they frequently talk about in their company culture is that it's important to be bold enough to make important decisions in one's life as opposed to allowing everything to stay the same out of fear. It's the way that they operate their business and it's something that they tend to like seeing in their employees as well.
Written by Allen Lee
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