Parallel49 Equity has released a statement claiming that it has acquired Kinetrex Energy, an LNG supplier based in the US, from Citizens Resources.
Kinetrex operates two LNG production facilities in Indianapolis, each with 1 billion ft3 of cryogenic storage capacity. The company also designs, markets and implements traditional pipeline natural gas and renewable natural gas (RNG) energy solutions.
Aaron Johnson, Chief Executive Officer of Kinetrex, said “I am pleased that Citizens’ sale to Parallel49 will keep Kinetrex headquartered in Indianapolis. Moreover, we are confident that Parallel49 Equity will help accelerate our growth strategy so as to achieve the same success in the RNG and pipeline natural gas markets that we have enjoyed in the LNG market.”