HOUSTON, Aug. 16, 2022 — Orbital Infrastructure Group, Inc. (NASDAQ: OIG) (“Orbital”) and Mangan, Inc. (“Mangan”) today announced that they have entered into an asset purchase agreement (the “Agreement”) under which Orbital will sell its Houston, Texas gas business, Orbital Gas Systems North America Inc. (“Orbital NA”) to Mangan. Effective immediately, Mangan will assume operations of Orbital’s North American gas business. Under the terms of the agreement, OIG will maintain ownership and control of its proprietary VE Technology and related products.
Amin Solehjou, Mangan’s CEO stated, “We are very excited about this strategic acquisition and the value it brings to our customers. Coupled with our strong North American presence in providing Specialty Engineering services to many of our customers in the Industrial Market, this acquisition adds meaningful turn-key capabilities towards solving our client’s environmental compliance as well as on-line process measurement challenges.”