New York City Awards ICF $30 Million Commercial Energy Efficiency Contract

Rhea-AI Summary

The New York City Department of Environmental Protection has awarded ICF a $30 million contract for energy efficiency, water conservation, and clean energy programs over three years, with possible extensions. The initiative aims to enhance high-performing buildings and support NYC's goal of reducing greenhouse gas emissions by 80% by 2050. ICF will leverage its extensive analytics and industry expertise to fulfill the contract, strengthening its partnership with key stakeholders in NYC.

Positive

• Awarded $30 million contract from NYC for energy efficiency programs.
• Contract includes new program elements, indicating business expansion.
• Supports NYC's ambitious greenhouse gas reduction goal of 80% by 2050.

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• None.

FAIRFAX, Va., Feb. 11, 2021 /PRNewswire/ -- The New York City (NYC) Department of Environmental Protection recently awarded global consulting and digital services provider ICF (NASDAQ:ICFI) a $30 million contract, which includes both re-compete and new program elements, to continue and expand implementation of the city's energy efficiency, water conservation and clean energy programs for existing and new commercial buildings. The contract has a term of three years plus two additional one-year options to extend. 

Under the agreement, the company will provide data-driven outreach and technical assistance to increase the number of high-performing buildings in the city and ultimately help NYC realize its goal of reducing greenhouse gas emissions by 80% by 2050 (from its 2005 baseline).

"Through our long-standing support of NYC's energy efficiency programs, we have established working relationships with the key stakeholders in the market and a real expertise analyzing and interpreting its rich public data sets," said Kyle Wiggins, ICF senior vice president and commercial energy lead. "We bring extensive experience combining advanced analytics with scenario modeling and deep energy industry expertise to help clients like NYC reach aggressive decarbonization goals."

With over three decades of experience developing award-winning demand-side management and energy efficiency programs that touch every phase of the program lifecycle, ICF helps clients evolve to build better performing portfolios. Read more about ICF's energy and energy efficiency services. 

About ICF
ICF is a global consulting services company with over 7,000 full- and part-time 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 the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. 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 value of the contract awarded to ICF by NYC?

ICF was awarded a $30 million contract by the NYC Department of Environmental Protection.

What is the duration of ICF's contract with NYC?

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

What goals does ICF's contract support for New York City?

The contract supports NYC's goal to reduce greenhouse gas emissions by 80% by 2050.

What services will ICF provide under the NYC contract?

ICF will provide data-driven outreach and technical assistance to enhance energy efficiency and water conservation.

When was the contract awarded to ICF?

The contract was awarded on February 11, 2021.