Englobal $ENG Selected For Fuel Production Plant

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Volatile trade is occurring in ENG stock on February 22, 2022, after the company announced that it was selected to build a fuel production plant.

ENG Selected As EPC Provider for Sustainable Aviation Fuel and Renewable Diesel Production Plant

On February 22, 2022, ENG (NASDAQ:ENG), a leading provider of innovative, project delivery solutions for the energy industry, announced it has been selected by a confidential client to provide engineering, procurement and construction (EPC) services for a renewable fuels plant designed to produce approximately 100 million gallons per year of sustainable aviation fuel and renewable diesel from renewable feed stocks.

This US-based plant, which is scheduled to be ready for commissioning in 2024, represents a culmination of efforts and a focused strategy to expand on ENG’s renewables project portfolio and increase ENG’s capabilities following the recent successful delivery of a modular hydrogen facility that was designed, engineered, fabricated and delivered by ENG.

This project will utilize licensed processes from Haldor Topsoe A/S known as their “HydroFlex™” and “Hydrogen Bridge™” technologies to produce renewable jet and diesel fuels with a low carbon footprint.

“I am very proud to receive this project award, which represents another major milestone in the renewable energy space for ENG following our recent delivery of a modular hydrogen facility also designed, engineered and fabricated by ENG,” said Bruce Williams, Senior Vice President Renewables. “This project also continues our close collaboration with Haldor Topsoe, which produces among the most advanced renewable fuels technologies in the world.”

ENG (NASDAQ:ENG) is a leading provider of complete project solutions for renewable and traditional energy throughout the United States and internationally. ENG operates through two business segments: Commercial and Government Services. The Commercial segment provides engineering, design, fabrication, construction and integration of automated control systems as a complete packaged solution for its clients. The Government Services segment provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at https://www.englobal.com

ENGlobal receives $2.2M in purchase orders to build security trailers

On January 18, 2022, ENG announced it has received purchase orders worth $2.2M to build 120 parking lot security trailers. The trailers, whose primary purpose is to provide electronic surveillance that keeps parking lots safer and which can be used for other remote surveillance, will be built at the company’s fabrication facility in Henderson, Texas and assembled in Houston, Texas at its 80,000 square foot indoor integration facility. ENG will build and deliver a minimum of 10 trailers per month starting this month and expects to deliver all 120 trailers by the end of this year. ENG engineered, designed, built and delivered a total of 50 trailers in 2021, receiving revenue of $950,000.

📺 Who is ENGlobal

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📉 ENG Stock Technical Analysis

Eng Stock

The short-term trend is negative, as is the long-term trend. Considerably lower volume is observed in the last couple of days. ENG is one of the lesser performing stocks in the Energy Equipment & Services industry. 97% of 102 stocks in the same industry do better. ENG is currently trading near the lower end of its 52-week range, which is not a good sign considering the S&P500 Index is trading in the middle of its 52-week range.

There is a support zone ranging from 0.86 to 0.87. This zone is formed by a combination of multiple trend lines in the weekly time frame.

There is a resistance zone ranging from 1.05 to 1.06. This zone is formed by a combination of multiple trend lines in the daily time frame.

ENG has a bad technical rating, but it does show a decent setup pattern. ENG stock has a Setup Rating of 6 out of 10. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 1.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.87, a Stop Loss order could be placed below this zone. Click here to sign up for email alerts on when ENG stock consolidates and has a Setup Rating of 8 or higher.

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