Atlas Technical Consultants Awarded $15 Million Design Quality Assurance Services contract for the I-35 Northeast Expansion (NEX) Design Build Program in Texas

Rhea-AI Summary

Atlas Technical Consultants (Nasdaq: ATCX) has secured a $15 million contract for design quality assurance on the I-35 Northeast Expansion (NEX) project in Texas. This contract is part of a larger $1.5 billion design-build initiative awarded to Alamo NEX Construction, a joint venture. The project aims to enhance safety and mobility on one of Texas's busiest highways, tackling congestion and meeting future traffic demands. Atlas will ensure compliance with design specifications through infrastructure reviews, leveraging its extensive experience with TxDOT projects.

Positive

• Secured a $15 million contract for I-35 NEX project, enhancing revenue prospects.
• Participation in a $1.5 billion design-build project improves Atlas's market position.
• Long-standing relationship with TxDOT showcases trust and reliability.

Negative

• None.

Award comes as Atlas promotes cross selling capabilities as part of Alamo NEX Team

AUSTIN, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading Infrastructure and Environmental solutions provider, announced today that it was selected for a $15 million contract to provide design quality assurance for the I-35 Northeast Expansion (NEX) project. The $1.5 billion Design Build contract was awarded to the Alamo NEX Construction (joint venture of Ferrovial & Webber) as the best value proposer, with Atlas as a major participant. The project will develop, design, construct, and maintain the I-35 NEX from I-410 South to FM 1103 in Bexar, Guadalupe, and Comal counties.

I-35 is a major gateway in San Antonio area and is one of the most congested roads in Texas. The I-35 NEX program will improve safety and mobility, reduce congestion, and accommodate the future traffic demands from the growth of the third most populous city in Texas. The proposed improvements will include elevated managed lanes between the existing main lanes and frontage roads, additional connector bridges, construction of general-purpose lanes, revisions to ramps and frontage roads, improving interchanges, and other highway improvements such as drainage, utilities, and signs.

Under this contract, Atlas will provide design review of infrastructure assets to assure compliance with the design build contract and TxDOT codes and specifications.

“We are thrilled to be part of the Alamo NEX Construction (ANC) team and to work with TxDOT to improve mobility and provide congestion relief on this section of the I-35 corridor,” said Atlas CEO, L. Joe Boyer. “Our long-standing relationship with TxDOT demonstrates their trust in our expertise to deliver a major infrastructure program that will play a pivotal role in the growth of the area.”

Atlas and partner Alamo NEX Construction have extensive experience with TxDOT Design-Build Projects. Atlas’ strong geographic presence and expertise has led to them participating in 22 of the 25 TxDOT Design-Build Projects.

The Alamo NEX Construction team includes Ferrovial Construction U.S. and Webber as equity members, with other participants including T.Y. Lin International, CONSOR Engineers LLC, OTHON Inc., Atlas (PaveTex Engineering LLC), CSJ Engineering Associates LLC, and Terracon Consultants Inc.

Atlas is committed to maintaining a strong safety culture and a healthy, hazard-free work environment for all who operate in, visit, or enter their facilities and job sites.

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 lifecycle of built and natural infrastructure assets stressed by climate, health, and economic impacts. With 3,600+ employees nationwide, Atlas brings deep technical expertise to public- and private-sector clients, integrating services across four primary disciplines: Environmental; Testing, Inspection and Certification; Engineering & Design; and Program, Construction, and Quality Management. 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 or 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
Rodny Nacier, ICR Inc.
512-851-1507
ir@oneatlas.com

 

FAQ

What is the latest contract awarded to ATCX?

Atlas Technical Consultants (ATCX) was awarded a $15 million contract for design quality assurance on the I-35 Northeast Expansion project.

How much is the I-35 Northeast Expansion project worth?

The I-35 Northeast Expansion project has a total value of $1.5 billion.

What role does ATCX play in the I-35 Northeast Expansion?

ATCX will provide design review of infrastructure assets to ensure compliance with the design build contract and TxDOT specifications.

What are the benefits of the I-35 NEX project?

The project aims to improve safety, mobility, and reduce congestion on one of the most trafficked highways in Texas.

How has ATCX performed in previous TxDOT projects?

Atlas has participated in 22 of the 25 TxDOT Design-Build Projects, indicating strong experience and performance.