ARGAN, Inc.’s WHOLLY OWNED SUBSIDIARY GEMMA POWER SYSTEMS ENTERS INTO EPC AGREEMENTS WITH NTE ENERGY

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ROCKVILLE, Md.–(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) today announced that its wholly owned subsidiary, Gemma Power Systems, LLC (GPS), has entered into two separate Engineering, Procurement and Construction Services contracts with NTE Ohio, LLC and NTE Carolinas, LLC, each affiliates of NTE Energy, and has received interim notices to proceed to commence early activities for the engineering, procurement and construction of two 475 MW state-of-the-art, combined cycle natural gas-fired power plants.

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ARGAN, Inc’s WHOLLY OWNED SUBSIDIARY GEMMA POWER SYSTEMS RECEIVES LIMITED NOTICE TO PROCEED FOR COMBINED CYCLE POWER PROJECT FROM MOXIE FREEDOM LLC

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ROCKVILLE, Md.–(BUSINESS WIRE)– Argan, Inc. (NYSE: AGX) today announced that its wholly owned subsidiary, Gemma Power Systems (GPS) has entered into an EPC Agreement with Moxie Freedom LLC and received a limited notice to proceed to commence early activities for the engineering, procurement and construction of a 1,000 MW combined cycle power plant to be located in Luzerne County, Pennsylvania.

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