09:50 AM EDT, 07/16/2025 (MT Newswires) -- NextNRG ( NXXT ) said Wednesday that it has signed a letter of intent to develop smart microgrids for two healthcare facilities in Los Angeles.

Separate 28-year power purchase agreements state that NextNRG ( NXXT ) will design, build, own, and operate smart microgrids for Sunnyside Nursing and Post-Acute Care, and Topanga Terrace Rehabilitation and Subacute, the company said.

NextNRG ( NXXT ) said it will sell electricity directly to the Sunnyside facility at a rate of $0.25 per kWh and the Topanga facility at $0.22 per kWh, with 2% annual price escalators, providing NextNRG ( NXXT ) with contracted cash flows until 2053.

Shares of the company were nearly 2% higher in early Wednesday trading.

Price: 1.85, Change: +0.04, Percent Change: +1.93