ANAHEIM, Calif.—(BUSINESS WIRE)—Willdan Group, Inc. (NASDAQ: WLDN) announced today that the Amalgamated Housing Cooperative (Amalgamated) selected Willdan to implement a $7.5 million central plant upgrade project in New York. The project includes a new combined heat and power system that will deliver emergency power during blackouts, provide new opportunities for revenue, and enable the facility to participate in demand response activities. The two-year contract follows Willdan’s investment grade audit of Amalgamated’s boilers and steam distribution system, which serve 1,487 units across eleven multistory buildings.
“This project restores resiliency to our central plant, giving our residents continuous heat even when the electric grid experiences outages,” said Charles Zsebedics, Amalgamated’s General Manager.
The project includes the design and construction of a new boiler plant, the removal of three 70-year-old boilers, the design and installation of two new dual fuel high pressure steam boilers with stack economizers and advanced boiler controls, and the installation of a 152 kW combined heat and power system. Willdan will redesign steam pressure and plant controls to better match building requirements and reduce operating costs and energy consumption.
About Amalgamated Housing Cooperative (Amalgamated)
Established in 1927, Amalgamated is the oldest limited equity housing cooperative in the United States. Amalgamated is located in Bronx, New York, and is now home to nearly 1,500 families in eleven buildings. The Amalgamated mission is to provide quality housing and a strong community for people of moderate income. To operate and live in accordance with the cooperative ideals, including democratic governance, shared responsibility, constant education, and mutual respect.
Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.
Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, Willdan’s ability to adequately complete projects in a timely manner, Willdan’s ability to compete successfully in the highly competitive energy efficiency services market, changes in state, local, and regional economies and government budgets, Willdan’s ability to win new contracts, to renew existing contracts (including with its two largest customers) and to compete effectively for contract awards through bidding processes and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 29, 2017. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.
Willdan Group, Inc.
Chief Financial Officer
Financial Profiles, Inc.
Tony Rossi, 310-622-8221