ICF to Support Hurricane Helene Recovery Across Carolinas

Rhea-AI Summary

ICF (NASDAQ:ICFI) has secured contracts with multiple towns, counties, and utilities in North and South Carolina to provide disaster recovery support following Hurricane Helene. The company is deploying local teams to assess damage and navigate FEMA Public Assistance programs, utilizing advanced technology including drones for rapid aerial assessments.

The company has already documented damage across 110 square miles and 80 miles of critical infrastructure through drone operations. ICF will implement their proprietary disasTRAX® cloud-based grants management platform to streamline the recovery process.

With over 25 years of disaster management experience, ICF has supported recovery efforts for more than 170 state and local communities across 90 major disasters, managing over $90 billion in federal recovery and mitigation funding.

Positive

• Secured multiple new contracts for Hurricane Helene recovery services
• Successfully deployed largest continuous drone operation in company history
• Manages $90 billion in federal recovery and mitigation funding
• Leveraging proprietary disasTRAX® platform for efficient grant management

Negative

• None.

Insights

Disaster Recovery and Infrastructure Analyst

The newly secured contracts with multiple municipalities and utilities in the Carolinas mark a strategic expansion of ICF's disaster recovery portfolio. While specific contract values weren't disclosed, several factors suggest meaningful revenue potential:

The scope encompasses multiple jurisdictions across two states, with damage assessment already covering 110 square miles and 80 miles of critical infrastructure. The comprehensive nature of services - from initial assessment through FEMA funding navigation and implementation - typically translates to multi-year engagements with substantial contract values.

ICF's competitive positioning is particularly strong here, driven by three key differentiators: 1) Their proprietary disasTRAX® platform streamlines grant management and reporting, critical for FEMA compliance 2) The deployment of drone technology for rapid damage assessment demonstrates technological leadership while reducing assessment timelines 3) Their 25-year track record managing $90 billion in federal disaster funding provides important expertise in navigating complex federal programs.

The broader market context is also favorable. Climate change is driving increased frequency and severity of natural disasters, expanding the addressable market for disaster recovery services. ICF's integrated approach combining disaster management, energy expertise and technology solutions positions them to capture growing demand for resilient infrastructure planning beyond immediate recovery work.

For investors, this contract win reinforces ICF's strong position in a growing market segment while showcasing their technology capabilities. The company's ability to secure multiple contracts across jurisdictions demonstrates strong business development execution and suggests potential for similar wins in future disaster recovery situations.

Advanced Technology and Local Expertise to Expedite FEMA Funding

RESTON, Va., Jan. 23, 2025 /PRNewswire/ -- ICF (NASDAQ:ICFI), a global consulting and technology services provider, has been contracted by the Town of Lake Lure, North Carolina, and several other towns, counties and utilities in North and South Carolina to provide comprehensive disaster assessments and recovery support in the aftermath of Hurricane Helene.

ICF's Carolina-based teams are partnering with local officials to assess damage, navigate the Federal Emergency Management Agency Public Assistance (FEMA PA) program, and identify additional federal funding opportunities to maximize assistance.

"Hurricane Helene caused unprecedented damage to communities, homes and utility infrastructure, impacting countless lives," said Anne Choate, ICF executive vice president for energy, environment and infrastructure. "By combining ICF's deep disaster management and energy expertise with advanced technology, we are helping community leaders confidently and quickly stand up new funding programs and strengthen their infrastructure. Together, we will work to accelerate recovery efforts and build resilience against future disasters."  

To expedite recovery for several clients, ICF has deployed disaster assessment teams in the impacted communities and utilized drones to conduct rapid, high-resolution aerial damage assessments. This cutting-edge approach has already documented damage across over 110 square miles and 80 miles of critical infrastructure—the largest continuous drone operation in the company's history. The detailed imagery enables fast, accurate data collection and informs recommendations for recovery and mitigation projects.

ICF will also leverage their proprietary cloud-based grants management platform disasTRAX® , which has been successfully leveraged by several of ICF's disaster management clients to streamline grants administration, centralize reporting and enhance communication with local stakeholders.

With over 25 years of disaster management experience, ICF has supported recovery efforts for more than 170 state and local communities and territories across 90 major disasters, managing over $90 billion in federal recovery and mitigation funding. From FEMA PA to U.S. Department of Housing and Urban Development Community Development Block Grant (CDBG) Disaster Recovery and CDBG Mitigation programs, ICF's mission-driven approach spans the entire disaster lifecycle, from damage assessments and planning to public engagement and implementation.

About ICF
ICF is a global consulting and technology services company with approximately 9,000 employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and various risks and uncertainties related to health epidemics, pandemics, and similar outbreaks. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What is the scope of ICF's Hurricane Helene recovery contracts in the Carolinas?

ICF (ICFI) is providing comprehensive disaster assessments and recovery support to multiple towns, counties, and utilities in North and South Carolina, including damage assessment, FEMA PA program navigation, and identification of federal funding opportunities.

How much area has ICF's drone assessment covered for Hurricane Helene damage?

ICF's drone operations have documented damage across 110 square miles and 80 miles of critical infrastructure, marking the company's largest continuous drone operation to date.

What is ICF's track record in disaster management as of 2025?

ICF has 25 years of disaster management experience, supporting over 170 state and local communities across 90 major disasters, managing more than $90 billion in federal recovery and mitigation funding.

What technology is ICF using for Hurricane Helene recovery efforts?

ICF is using advanced drone technology for aerial damage assessments and their proprietary cloud-based grants management platform disasTRAX® to streamline grants administration and enhance stakeholder communication.