CEC Energy Company Profile

Background

Overview

CEC Energy, formerly known as Coonrod Electric Company, was established in 1956 in Sinton, Texas, by C.W. "Clif" Coonrod. The company has a longstanding history of providing comprehensive electrical and instrumentation services to various industries, including oil and gas, renewable energy, and industrial manufacturing. CEC Energy's mission is to "Empower People to Power Communities," reflecting its commitment to delivering innovative and reliable solutions that meet the evolving energy needs of its clients.

Mission and Vision

CEC Energy's mission is to "Empower People to Power Communities," emphasizing its dedication to delivering innovative and reliable electrical, renewable, and automation management solutions. The company's vision focuses on providing comprehensive service platforms that electrify, automate, and safeguard the energy needs of today and tomorrow.

Primary Area of Focus

CEC Energy specializes in electrical construction, maintenance, asset integrity management, and automation and system controls. The company serves a diverse clientele across sectors such as oil and gas, renewable energy, industrial manufacturing, government, and utilities. Its services encompass engineering, procurement, construction management, and maintenance, with a strong emphasis on safety, quality, and customer satisfaction.

Industry Significance

With over six decades of experience, CEC Energy has established itself as a trusted partner in the energy and commodities sector. The company's expertise in handling complex, mission-critical projects has contributed to the development and maintenance of essential infrastructure, supporting the growth and sustainability of various industries. CEC Energy's commitment to safety and quality has earned it a reputation for reliability and excellence in service delivery.

Key Strategic Focus

Core Objectives

CEC Energy aims to provide comprehensive service platforms that electrify, automate, and safeguard the energy needs of its clients. The company's strategic focus includes delivering high-quality, safe, and reliable solutions tailored to meet the unique requirements of each project. CEC Energy emphasizes clear communication, disciplined project management, and a commitment to customer satisfaction.

Specific Areas of Specialization

Electrical Construction and Maintenance: Design, installation, and maintenance of electrical systems for various industrial applications.

Asset Integrity Management: Ensuring the reliability and safety of critical infrastructure through comprehensive inspection, maintenance, and repair services.

Automation and System Controls: Implementation of advanced automation solutions to optimize operational efficiency and control systems.

Key Technologies Utilized

CEC Energy employs a range of technologies to deliver its services, including:

Advanced Automation Systems: Utilizing state-of-the-art control systems to enhance operational efficiency and safety.

Renewable Energy Solutions: Incorporating solar power technologies to support sustainable energy initiatives.

Asset Management Software: Implementing digital tools for effective asset monitoring and maintenance planning.

Primary Markets or Conditions Targeted

CEC Energy primarily targets markets in the United States, including Texas, New Mexico, Oklahoma, Colorado, Arkansas, Louisiana, Pennsylvania, and Mexico. The company focuses on sectors such as oil and gas, renewable energy, industrial manufacturing, government, and utilities, addressing the unique challenges and requirements of each industry.

Financials and Funding

Funding History

In June 2022, LCG Holdings, a consortium of financial investors, acquired a controlling interest in CEC Energy. This strategic partnership was aimed at supporting the company's growth and expansion in core and emerging markets, including data centers, renewables, industrial manufacturing, oil and gas, and marine infrastructure.

Total Funds Raised

Specific details regarding the total funds raised by CEC Energy are not publicly disclosed.

Notable Investors

LCG Holdings is the primary investor in CEC Energy, having acquired a controlling interest in the company in 2022.

Intended Utilization of Capital

The capital from the acquisition is intended to support CEC Energy's strategic initiatives, including expansion into new markets, development of renewable energy projects, and enhancement of service capabilities to meet the evolving needs of its clients.

Pipeline Development

Key Pipeline Candidates

CEC Energy is involved in several significant projects, including:

Battery Energy Storage System – Houston Area: A 30 MW battery system aimed at bringing stability and renewable power to the Houston area.

LNG Facility Expansion – Gulf Coast: Providing electrical construction services for one of the Gulf Coast's largest LNG expansions.

Battery Energy Storage System – South Texas: Strengthening the Texas grid with 173 MWh of cutting-edge battery storage.

Steel Mill Project: Delivering large-scale electrical solutions for one of the nation's most advanced steel mills.

Solar Project – Central Texas: Harnessing solar energy with a 36.8 MW solar project built for lasting efficiency.

LNG Facility – Gulf Coast: Providing massive electrical construction for a world-class LNG export facility on the Gulf Coast.

Stages of Clinical Trials or Product Development

As an industrial contractor, CEC Energy does not engage in clinical trials or product development in the pharmaceutical sense. However, the company is actively involved in the development and execution of large-scale infrastructure projects, particularly in the energy sector.

Target Conditions

The company's projects target various conditions, including:

Energy Storage Solutions: Addressing the need for reliable and efficient energy storage systems.

Infrastructure Expansion: Supporting the growth and modernization of energy infrastructure.

Renewable Energy Integration: Facilitating the incorporation of renewable energy sources into existing grids.

Relevant Timelines for Anticipated Milestones

Specific timelines for project milestones are not publicly disclosed. However, CEC Energy's projects are typically aligned with industry standards and client requirements, ensuring timely and efficient execution.

Technological Platform and Innovation

Proprietary Technologies

CEC Energy utilizes proprietary technologies in its automation and system controls services, ensuring customized solutions that meet the specific needs of each project. The company also employs advanced asset management software to monitor and maintain critical infrastructure effectively.

Significant Scientific Methods

While CEC Energy does not engage in scientific research in the traditional sense, the company applies engineering best practices and industry standards in its project execution. This includes the use of advanced automation systems, renewable energy technologies, and comprehensive asset management strategies to ensure the reliability and safety of its services.

Leadership Team

Key Executive Profiles

Chaden "Chad" Lassoued: Chairman and CEO of CEC Energy. Chad has extensive experience in the energy sector and has been instrumental in guiding the company's strategic direction.

Danny Cook: Former President of CEC Energy, who continues to hold equity interest in the company and serves as the Chief Commercial Officer. Danny has been with the company for several years and has played a key role in its growth and development.

Leadership Changes

In June 2022, LCG Holdings acquired a controlling interest in CEC Energy, leading to strategic leadership changes aimed at supporting the company's growth and expansion in various markets.

Competitor Profile

Market Insights and Dynamics

The market for electrical construction and maintenance services is competitive, with numerous companies offering similar services. CEC Energy differentiates itself through its longstanding history, commitment to safety and quality, and ability to handle complex, mission-critical projects.

Competitor Analysis

Key competitors of CEC Energy include:

Cummings Electrical: A company offering electrical contracting services.

Scottelectricdfw: An electrical contracting firm based in the Dallas-Fort Worth area.

Amber Electrical Contractors: A provider of electrical contracting services.

These competitors operate in similar markets and offer comparable services, but CEC Energy's extensive experience and comprehensive service offerings provide a competitive edge.

Strategic Collaborations and Partnerships

The acquisition by LCG Holdings in 2022 represents a significant strategic collaboration, providing CEC Energy with additional resources and expertise to expand its service offerings and market reach.