Applied LNG Completes Financing for LNG Plant in Midlothian, Texas

Applied LNG announced today the closing of a $22.5 million senior secured loan provided by Texas Capital Bank. "This transaction completes the financing of our first liquefaction train in our Midlothian LNG Production Platform," said Cem Hacioglu, President and CEO of Applied LNG. "We are delighted to partner with Texas Capital Bank to complete this financing on attractive terms which we believe is a testament to the financial and operational stability of our company and its tremendous growth potential." "Texas Capital Bank is proud of its partnership with Applied LNG and we are excited to finance this project in the State of Texas," said Chris Wheeler, Executive Vice President. "We look forward to expanding our relationship with the company as Applied LNG continues to grow its operations in Midlothian and beyond," he said. Applied LNG's first production train in Midlothian, Texas, is expected to be completed in mid-2015. This will be the company's third liquefier and will increase Applied LNG's production capacity to 258,000 LNG gallons per day.