DTE Energy Services, a non-utility business of DTE Energy, completes purchase of Marina Thermal Facility in Atlantic City

Detroit, Feb. 19, 2020 (GLOBE NEWSWIRE) -- DETROIT, Feb. 19, 2020 – DTE Energy Services, a non-utility business of DTE Energy (NYSE: DTE), today announced it completed the $100 million purchase of the Marina Thermal Facility from SJI, an energy services holding company based in Folsom, New Jersey.

Located in Atlantic City, the Marina Thermal Facility is an eight-megawatt combined heat and power generation facility that provides electricity and hot and chilled water to MGM’s Borgata Hotel Casino & Spa and The Water Club.

“DTE Energy Services has been providing reliable energy services to our customers that allow for greater business focus and ensure the safety of our employees, customers and the communities we’ve served for the past 25 years,” said Mark Stiers, president and chief operating officer, DTE Power & Industrial. “We’re proud to add the Marina Thermal Facility to our portfolio of on-site energy projects, and we look forward to continuing to provide MGM’s Borgata Hotel Casino & Spa and The Water Club with reliable service that meets their energy needs for years to come.”

About DTE Energy Services

DTE Energy Services is part of DTE’s non-utility Power and Industrial business unit. It provides products and services to large, energy-intensive industrial, commercial and institutional customers. The business focuses on customers in the steel, chemical, automotive, commercial real estate and consumer products sectors. On-site energy offerings include cogeneration of electricity and steam, compressed air, hot and chilled water, waste water treatment, backup power, electrical distribution and energy efficiency programs. More information about DTE Energy Services is available at dtepowerandindustrial.com.

About DTE Energy

DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce while keeping it safe, reliable and affordable. DTE Electric aspires to achieve net zero carbon by 2050. DTE is committed to through volunteerism, education and employment initiatives, and economic progress. Information about DTE is available at , , and .

Forward Looking Statements

Certain information presented herein includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, and businesses of DTE Energy. Words such as “anticipate,” “believe,” “expect,” “projected,” “aspiration,” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to numerous assumptions, risks, and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated, or budgeted. Many factors may impact these forward-looking statements including, but not limited to, the following: the failure to consummate the transaction, the risk that we will not achieve expected synergies, the risk that the operations being acquired in the acquisition will not be successfully integrated or that such integration will take longer than expected, the risk that the operations being acquired will not perform as expected; and the risks discussed in our public filings with the Securities and Exchange Commission. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. This document should also be read in conjunction with the Forward-Looking Statements section of the joint DTE Energy and DTE Electric 2018 Form 10-K and 2019 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy.