ADDED
264,930,065 shares of the registrant s Common Stock, $0.0001 par value, were outstanding as of February 20, 2026.
Entities displayed in the structure below, other than the Joint Ventures (defined below), are wholly owned by their parent.
Summary of Risk Factors We believe that the principal risks associated with our business, and consequently the principal risks associated with an investment in our common stock, are as follows: Risks Related to our Business and the Industry in which we Operate The substantial amount of indebtedness incurred to finance construction of the Rio Grande LNG Facility may adversely affect cash flow and the ability to operate our business, remain in compliance with debt covenants and make payments on indebtedness.
Our projects are in the development and construction phases, and the success of such projects is unpredictable.
Gulf Coast to be a competitive source of energy for international markets could adversely affect our customers and could materially and adversely affect our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
Business Company Overview and Formation NextDecade Corporation, a Delaware corporation, is a Houston-based energy company primarily engaged in construction and development activities related to the liquefaction of natural gas and sale of LNG.
The first five liquefaction trains and related infrastructure (together, "Phase 1", "Train 4", and "Train 5") at the Rio Grande LNG Facility are currently under construction.
We are also developing and advancing the permitting process for expansion Trains 6 through 8 and exploring a potential carbon capture and storage ("CCS") project at the Rio Grande LNG Facility.
We seek to deliver secure, affordable, and cleaner energy through the development and operation of liquefaction capacity at the Rio Grande LNG Facility.
Rio Grande LNG Facility Activity Liquefaction Facilities Overview We are constructing and developing the Rio Grande LNG Facility on the north shore of the Brownsville Ship Channel in south Texas.
REMOVED
260,442,494 shares of the registrant s Common Stock, $0.0001 par value, were outstanding as of February 20, 2025.
Unless the context requires otherwise, references to NextDecade, the Company, we, us and our refer to NextDecade Corporation and its consolidated subsidiaries.
Our projects are in the development and construction phases, and the success of such projects is unpredictable; as such, positive cash flows and even revenues will be several years away, if they occur at all.
Failure of exported LNG to be a competitive source of energy for international markets could adversely affect our customers and could materially and adversely affect our business, contracts, financial condition, operating results, cash flow, liquidity and prospects.
Risks Related to Governmental Regulation The decision by the D.C.
Circuit Court of Appeals could impact Rio Grande s ability to complete Phase 1, the cost to complete Phase 1, the timing of the completion of Phase 1, our ability to take a final investment decision on Trains 4 and 5, our ability to develop additional expansion trains at the Rio Grande LNG Facility, and our ability to achieve expected investment returns.
Business Company Overview and Formation NextDecade Corporation, a Delaware corporation, is a Houston-based energy company primarily engaged in construction and development activities related to the liquefaction of natural gas and sale of LNG and the capture and storage of CO 2 emissions.
The Rio Grande LNG Facility has received Federal Energy Regulatory Commission ( FERC ) approval and Department of Energy ( DOE ) FTA and non-FTA authorizations for the construction of up to five liquefaction trains and LNG exports totaling up to 27 million tonnes per annum ( MTPA ).
Please see "Rio Grande LNG Facility Activity - Governmental Permits, Approvals and Authorizations" for more information regarding our FERC permit.
The Rio Grande LNG Facility has three liquefaction trains and related infrastructure ("Phase 1") under construction and liquefaction trains 4 and 5 are currently being commercialized.