ANAHEIM, Calif. - March 10, 2017 (Investorideas.com Newswire) Willdan Group, Inc. (NASDAQ: WLDN) today announced that it has been awarded a $10.9 million contract by the City of Lawrence, Kansas, for a comprehensive energy-efficiency and facility-improvement project encompassing 40 City-owned buildings. The contract follows an investment grade audit performed by Willdan that projected the City's annual energy and maintenance savings, and recommended specific energy conservation measures. As part of its turnkey contract, Willdan will be responsible for all facets of project implementation and ongoing performance measurement and verification.
"Willdan's performance contract guarantees the energy savings to fund the costs of the City's project. We anticipate a 12-month project duration, after which we will provide measurement and verification services to quantify the energy savings achieved."
"This single contract combines many of our technical capabilities, including renewable energy generation, energy efficiency design, expertise in a wide variety of facility types, and assistance with Green Bond financing," stated Tom Brisbin, Willdan's CEO. "Willdan's performance contract guarantees the energy savings to fund the costs of the City's project. We anticipate a 12-month project duration, after which we will provide measurement and verification services to quantify the energy savings achieved."
This project includes a 100–kW rooftop solar array, converting all building lighting to LED technology, redesigning the HVAC systems at the Holcom Recreation Center, modifying air distribution and other systems to resolve indoor air quality deficiencies at the indoor aquatic center, replacing failing chillers and boilers, upgrading antiquated rooftop HVAC units and split systems, and redesigning building envelopes with higher efficiency technology.
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.
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
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