Willdan Awarded New $40.6 Million Contract for Consolidated Edison Multifamily Energy Efficiency Program
Category: Press Release
Jun 7, 2016
ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. ("Willdan") (NASDAQ: WLDN) today announced that it has been awarded a new two-and-a-half-year $40.6 million contract to implement Consolidated Edison's (Con Edison's) Multifamily Energy Efficiency (Multifamily) program across the utility's New York City and Westchester County service area. This new program, which is expected to ramp up throughout the third quarter of 2016, expands upon Willdan's existing Small Business Direct Install (SBDI) program with Con Edison and increases the overall diversification of the Company's relationship with the energy company.
"We thank Con Edison for entrusting Willdan with another of their important energy efficiency programs," said Tom Brisbin, Willdan's CEO. "We have consistently met energy efficiency targets in our programs for Con Edison and we were very proud to have recently been named the winner of the Con Edison 2016 Supplier Diversity & Sustainability Excellence Award. As we begin work on the new Multifamily program, we intend to utilize an extensive trade ally network, which has proven to be a highly effective strategy in our other energy efficiency programs."
The Multifamily program is one of the energy efficiency programs Con Edison offers to help customers save energy, lower their bills, and protect the environment. The Multifamily program focuses on reducing energy usage in residential facilities with multiple units on the property. Services for the new contract include outreach and direct sales to potential Multifamily participants, on-site energy efficiency surveys, direct implementation of energy savings measures, and trade ally management. To reduce the payback period for energy efficiency investments, Con Edison provides incentives to help its customers identify and install energy efficiency measures.
Willdan now has more than 200 employees and six offices located in the New York area, and has further broadened its clean energy offerings through the recent acquisition of Genesys Engineering, P.C.
Willdan provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States. The Company's service offerings span a broad set of complementary disciplines that include energy efficiency and sustainability, engineering and planning, financial and economic consulting, and national preparedness. Willdan provides integrated technical solutions to extend the reach and resources of its clients, and provides all services through its subsidiaries specialized in each segment. For additional information, visit Willdan's website at www.willdan.com.
Forward Looking Statements
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, a slowdown in the local and regional economies of the states where Willdan conducts business and the loss of or inability to hire additional qualified professionals. Willdan's business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan's SEC reports including, but not limited to, the Annual Report on Form 10-K filed for the year ended January 1, 2016. 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
Source: Willdan Group, Inc.