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Gemma Renewable Power LLC Signs EPC Contract and Receives Notice to Proceed for $18 Million Wind Farm Project

By January 23, 2012April 6th, 2018Company News, News Releases

ROCKVILLE, MD –(BUSINESS WIRE)– Argan, Inc. (NYSE AMEX: AGX) announced that its
wholly-owned affiliate Gemma Renewable Power LLC has signed an approximately $18 million EPC
contract with Patton Wind Farm LLC, a wholly-owned subsidiary of EverPower Wind Holdings, Inc.,
to design and build a 30 MW wind farm. The Patton Wind Farm located near Ebensburg, Pennsylvania
will consist of 15 Gamesa wind turbines. In addition to erecting towers and wind turbines, Gemma
Renewable Power will provide design and construction of access roads, foundations, electrical
collection systems and an interconnecting substation. Gemma Renewable Power has received a Notice
to Proceed on this contract with an anticipated completion in December 2012.

Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “We are very pleased to
sign the EPC contract with Patton Wind and welcome the opportunity to work with the EverPower
team on this wind farm project.”

About Argan, Inc.

Argan’s primary business is designing and building energy plants through its Gemma Power Systems
subsidiary. These energy plants include traditional gas as well as alternative energy including biodiesel,
ethanol, and renewable energy sources such as wind power and solar.. Argan also owns Southern
Maryland Cable, Inc.

Certain matters discussed in this press release may constitute forward-looking statements within the
meaning of the federal securities laws and are subject to risks and uncertainties including, but not
limited to; (1) the Company’s ability to achieve its business strategy while effectively managing costs
and expenses; (2) the Company’s ability to successfully and profitably integrate acquisitions; and (3)
the continued strong performance of the energy sector. Actual results and the timing of certain events
could differ materially from those projected in or contemplated by the forward-looking statements due
to a number of factors detailed from time to time in Argan’s filings with the Securities and Exchange
Commission. In addition, reference is hereby made to cautionary statements with respect to risk factors
set forth in the Company’s most recent reports on Form 10-K and 10-Q, and other SEC filings.