 HOUSTON, March 30, 2021 PRNewswire -- Orbital Energy Group, Inc. Nasdaq: OEG Orbital Energy or the Company today reported unaudited financial results for the three and twelve months ended December 31, 2020. Financial and Operating Highlights: Reported total revenues of 11.3 million for the fourth quarter of 2020 and 38.4 million for the full year 2020, compared to 5.7 million and 23.5 million for the fourth quarter and full year 2019, respectively; Gross profit was 3.1 million for the fourth quarter of 2020 and 7.1 million for the full year 2020, compared to 1.5 million for the fourth quarter of 2019 and 5.8 million for the full year 2019, the improvement attributable to increased revenues; this improvement is expected to continue throughout 2021; Gross margin was 27.7 for the fourth quarter of 2020 and 18.5 for the full year 2020, compared to 26.0 and 24.7 for the fourth quarter and full year 2019, respectively; Operating loss was 8.2 million for the fourth quarter of 2020 and 28.8 million for the full year 2020, compared to 4.9 million and 16.0 million for the fourth quarter and full year 2019, respectively, mainly due to higher SGA expenses associated with Orbital Solar and Orbital Power Services; Held Cash and cash equivalents of 3.0 million and Restricted cash of 1.5 million as of December 31, 2020; Total backlog was 40.4 million compared to 9.6 million at December 31, 2019, reflecting backlog growth at both Orbital Solar and Orbital Power Services; Signed Master Services Agreement with a midwestern investor-owned utility, expected to generate significant recurring monthly revenues and increase the TD divisions revenues by approximately 30 on an annualized basis; Subsequent to year end, launched new subsidiary, Eclipse Foundation Group, a drilled shaft foundation construction company that specializes in providing services to the electric transmission and substation, industrial, communication towers and disaster restoration market sectors, with expertise in water, marsh and rock terrains; During January 2021, the Company raised 45 million in equity capital, before costs and fees, to accelerate growth both organically and through strategic acquisitions; The Orbital Solar Services subsidiary was named the engineering, procurement, and construction EPC company of choice for the newly-formed Black Sunrise Half Century Fund, which over the next three years expects to build over 1 gigawatt of solar power with a beginning investment of 725 million. 