NextNRG signs 28-year power agreements with two LA healthcare facilities

MIAMI - NextNRG, Inc. (NASDAQ:NXXT), a renewable energy company with a market capitalization of $220 million, has signed a letter of intent to develop energy infrastructure for two Los Angeles healthcare facilities, the company announced Wednesday. According to InvestingPro data, the company has shown strong revenue growth of 52% over the last twelve months.

The AI-driven energy company will design, build, own and operate smart microgrid systems for Sunnyside Nursing and Post-Acute Care and Topanga Terrace Rehabilitation & Subacute under separate 28-year Power Purchase Agreements (PPAs).

The Sunnyside facility agreement sets pricing at $0.25 per kWh with a 2% annual escalator, while the Topanga facility agreement starts at $0.22 per kWh with the same escalation rate. Both contracts extend through 2053.

Each microgrid system will include up to 830 kWh DC of solar photovoltaic capacity and 2.2 MWh of battery energy storage with ground-mounted solar arrays. The systems will be integrated with NextNRG’s proprietary Utility Operating System.

"These projects represent our strategic entry into the healthcare market, where energy reliability is mandatory rather than optional," said Michael D. Farkas, Founder and CEO of NextNRG, in the press release.

The healthcare sector represents a significant market opportunity for NextNRG, with 15,300 nursing homes and 32,231 assisted living facilities across the United States that require reliable power systems to meet regulatory requirements for continuous operation of critical equipment. While the company’s gross profit margin stands at 6.3%, analysts tracked by InvestingPro project sales growth of 188% for fiscal year 2025.

The company reported preliminary May 2025 revenue of $6.6 million, representing 148% year-over-year growth. NextNRG currently operates mobile fueling operations across six U.S. states with 144 active delivery trucks.

The announcement comes after NextNRG’s recent inclusion in the Russell 2000 and Russell 3000 indexes and its partnership with Hudson Sustainable Group.

In other recent news, NextNRG reported a significant 231% increase in revenue for June 2025, reaching $6.98 million. This marks the sixth consecutive record month for the company, with year-to-date revenue already surpassing 2024’s full-year figures by 33%. The company is also expanding its operations internationally through the planned acquisition of ReFuel Mobile, a Canadian mobile fueling company, expected to finalize by August 1, 2025. This acquisition will introduce NextNRG to the Canadian market, integrating ReFuel’s software with its existing technology. Additionally, NextNRG has entered into an at-the-market equity sales agreement with ThinkEquity LLC, H.C. Wainwright & Co., LLC, and Roth Capital Partners, LLC, to raise up to $75 million. The company also secured $3 million in loans from accredited investors, backed by pledges of common stock shares. These developments highlight NextNRG’s strategic growth initiatives and financial maneuvers.

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