Atlas Reselected to Support Federal Aid Projects by the Georgia Department of Transportation

Rhea-AI Summary

Atlas Technical Consultants has been awarded a 5-year contract worth up to $25 million by the Georgia Department of Transportation (GDOT) to provide program management services for transportation projects. This contract, containing a base term of three years with two optional one-year extensions, aims to enhance local agency project execution. Atlas's role includes managing projects from funding award to construction, ultimately improving infrastructure while safeguarding environmental resources. The company emphasizes its long-standing collaboration with GDOT to fulfill community infrastructure needs.

Positive

• Awarded a new 5-year contract valued at $25 million by GDOT.
• Continues a successful partnership with GDOT spanning over 20 years.
• Supports local public agencies in managing projects funded by the Federal-aid program.

Negative

• None.

Atlas to provide program management services to local public agencies under a 5-year, $25 million max-value contract

AUSTIN, Texas, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc.  (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading Infrastructure and Environmental solutions provider, announced today that it has been re-selected by the Georgia Department of Transportation (GDOT) to provide program management services for ongoing and future transportation projects throughout the state under the Local Administered Projects (LAP) program, which it has been supporting for over twenty years. The contract has a base term of three years with two, one-year extension options, and has a maximum value of $25 million.

The LAP program guides and supports local public agencies to manage activities on projects that receive Federal-aid funding through a set of standard policies. This will include projects that will potentially receive funding from the Infrastructure Investment and Jobs Act (IIJA). In Georgia, over 20 percent of the national Federal-aid program is administered by local public agencies, which can represent several hundreds of projects annually. Under the contract, Atlas’ technical staff will work alongside staff from GDOT and local public agencies in cities and counties throughout the state to provide program management services. These services span the project lifecycle from award of funding through construction and to ensure projects are delivered safely and efficiently while protecting the natural resources of the State.  

“A key pillar of Atlas’ corporate purpose is our dedication to providing the communities in which we live and work with safe and sustainable infrastructure solutions,” said Atlas CEO, L. Joe Boyer. “Atlas has a deep history of providing professional and technical services to GDOT, and we are excited to be able to continue to work closely with local agencies throughout the state in helping to achieve their transportation infrastructure goals.”

About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of Infrastructure and Environmental Solutions. We partner with our clients to improve performance and extend the lifecycle of built and natural infrastructure assets stressed by climate, health, and economic impacts. With 3,500+ employees nationwide, Atlas brings deep technical expertise to public- and private-sector clients, integrating services across four primary disciplines: Environmental (ENV); Testing, Inspection and Certification (TIC); Engineering & Design (E&D); and Program Management/Construction Management, and Quality Management (PCQM). To learn more about Atlas innovations for transportation, commercial, water, government, education, and industrial markets, visit https://www.oneatlas.com.

Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this press release in relation to Atlas has been provided by Atlas and its management team, and forward-looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us and are based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto; (2) the risk that our actual results may differ from the guidance we have provided; (3) the ability to recognize the anticipated benefits of our past acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (4) changes adversely affecting the business in which we are engaged; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.

Contacts:

Media
Karlene Barron
770-314-5270
karlene.barron@oneatlas.com

Investor Relations
Chase Jacobson, Vallum Advisors
512-851-1507
ir@oneatlas.com

FAQ

What is the value of the contract awarded to Atlas Technical Consultants by GDOT?

The contract is worth up to $25 million.

How long is the contract for program management services with GDOT?

The contract has a base term of three years, with two one-year extension options.

What type of services will Atlas provide under this contract?

Atlas will provide program management services for transportation projects.

What impact does this contract have on Atlas Technical Consultants?

This contract allows Atlas to enhance its revenue and continue its long-standing partnership with GDOT.

When was the contract awarded to Atlas Technical Consultants?

The contract was announced on October 19, 2022.