NextDecade, LLC (“NextDecade”) announced that it has entered into an agreement with GE Oil & Gas to advance its liquefied natural gas (“LNG”) export projects and associated pipelines in the State of Texas. NextDecade has named GE Oil & Gas as the exclusive supplier of gas turbine and compressor equipment for the liquefaction trains of the Rio Grande LNG project and the associated Rio Bravo Pipeline.

GE (NYSE: GE) is a leading provider of gas turbines to the LNG industry, with systems operating in LNG trains around the world. The gas turbine and compressor equipment supplied to NextDecade will come with long-term services, life-cycle maintenance agreements, and GE performance guarantees. In addition to technology and services, GE Oil & Gas is providing NextDecade with a common equity investment, and is granted the right to invest up to a specified amount in project-level equity and debt financing for Rio Grande LNG at the time of final investment decision (“FID”).

NextDecade is a leader among the second wave of U.S. LNG project developers, deploying a competitive approach to the global LNG markets. It is offering customers access to an attractive location in the State of Texas, developed by world-class partners and supported by proven technologies and flexible commercial solutions.

“NextDecade is delighted to welcome GE Oil & Gas as both a shareholder and exclusive supplier to its Rio Grande LNG and Rio Bravo Pipeline projects,” said Kathleen Eisbrenner, NextDecade Chief Executive Officer. “We believe GE will add significant value as we work to make Rio Grande LNG one of the most competitive liquefaction projects in the world. The addition of GE Oil & Gas reaffirms our commitment to use proven technology to provide our customers with low-cost, reliable LNG.”

On April 18, 2017, NextDecade announced that it had entered into a definitive merger agreement with Harmony Merger Corp. (NASDAQ: HRMN, HRMNU, and HRMNW) (“Harmony”). Harmony is a publicly traded special purpose acquisition company (“SPAC”) whose objective is to take a company public via a reverse merger. The proposed merger, which was first announced on March 13, 2017, is expected to close late in the second quarter of 2017. Consummation of the proposed merger will result in NextDecade becoming a publicly listed company.

Additional details of NextDecade’s agreement with GE Oil & Gas will be provided in a definitive proxy statement to be filed by Harmony with the U.S. Securities and Exchange Commission (“SEC”) in connection with NextDecade’s planned business combination with Harmony.

About Rio Grande LNG

Rio Grande LNG is a proposed LNG export facility at the Port of Brownsville, Texas. The project, planned for a 984-acre industrial site, and the associated Rio Bravo Pipeline are in the midst of the extensive Federal Energy Regulatory Commission (FERC) permitting process. To date, NextDecade has signed 30 mtpa of non-binding sales agreements for its Rio Grande LNG project and stands ready to offer flexible solutions to both customers and producers.

About NextDecade, LLC

NextDecade, based in The Woodlands, Texas, is a developer of LNG projects providing customers access to the full LNG value chain. Founded in 2010, NextDecade has a team of industry leaders with extensive experience in signing major LNG off-take deals, and developing and managing LNG, FLNG, and FSRU projects, as well as associated natural gas and electricity infrastructure around the world.

About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.

About GE Oil & Gas

GE Oil & Gas is inventing the next industrial era in the oil and gas sector. In our labs and factories, and in the field, we constantly push the boundaries of technology to solve today’s toughest operational & commercial challenges. We have the skills, knowledge and technical expertise to bring together the physical and digital worlds to fuel the future.