SMECO Awards ICF $30 Million Energy Efficiency Contract

Rhea-AI Summary

ICF (NASDAQ:ICFI) has secured a three-year, $30 million contract extension from Southern Maryland Electric Cooperative (SMECO) to enhance its energy efficiency programs. This partnership, extending over a decade, involves implementing comprehensive services for SMECO's EmPOWER Maryland Programs, including program management, marketing, and innovative energy efficiency pilot designs. ICF aims to support SMECO’s evolving relationship with its customers while meeting Maryland's new energy targets.

Positive

• Awarded a $30 million contract extension for energy efficiency services.
• Long-term partnership with SMECO, highlighting trust and performance.
• Comprehensive program management and innovative designs aimed at improving energy efficiency.

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• None.

FAIRFAX, Va., Jan. 6, 2021 /PRNewswire/ -- Southern Maryland Electric Cooperative (SMECO) recently awarded global consulting and digital services provider ICF (NASDAQ:ICFI) a three-year, $30 million contract extension to implement its residential and commercial energy efficiency portfolios.

ICF will deliver comprehensive, turnkey services to SMECO's EmPOWER Maryland Programs, including marketing, customer participation, program management and more. ICF will also deliver innovative designs for energy efficiency pilot programs including schools, renewable energy, loyalty and rewards, and low-to-moderate income offerings. 

"For over 10 years, ICF has worked closely with SMECO to develop, design, test and implement its energy efficiency programs, including full-scale rollout of the tremendously successful smart thermostat pilot program," said Kyle Wiggins, ICF senior vice president and commercial energy lead. "We are excited to work together to evolve these programs to better support the co-op's changing relationship with its customer-members and help meet Maryland's new energy targets."

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 SMECO?

The contract awarded to ICF by SMECO is valued at $30 million.

How long is the contract extension ICF received from SMECO?

ICF received a three-year contract extension from SMECO.

What services will ICF provide under the SMECO contract?

ICF will provide comprehensive services for SMECO's EmPOWER Maryland Programs, including marketing, program management, and energy efficiency pilot designs.

What are the goals of the partnership between ICF and SMECO?

The partnership aims to support SMECO's evolving relationship with its customers and help meet Maryland's new energy targets.