Infrastructure & Energy Alternatives and LOGISTEC USA Announce Strategic Alliance to Provide Turnkey Solutions for U.S. Offshore Wind Industry
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) announced a strategic alliance with LOGISTEC USA Inc. to enhance offshore wind projects along the U.S. east coast. This non-exclusive partnership combines IEA's engineering, procurement, and construction (EPC) expertise with LOGISTEC's cargo handling capabilities, aiming for improved economies of scale. The collaboration aligns with the U.S. goal to deploy 30 gigawatts of offshore wind power by 2030, expected to power over 10 million homes and reduce CO2 emissions significantly.
- Strategic alliance with LOGISTEC aims to enhance offshore wind capacity, leveraging IEA's EPC solutions.
- Partnership expected to improve supply chain efficiencies and logistics for utility-scale offshore wind developments.
- Alignment with U.S. goal to deploy 30 GW of offshore wind power by 2030, potentially powering over 10 million homes.
- None.
INDIANAPOLIS, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA, “IEA” or the “Company”) a leading infrastructure company with renewable energy and specialty civil expertise, today announced a new strategic alliance with LOGISTEC USA Inc., a subsidiary of LOGISTEC Corporation (TSX: LGT.A, LGT.B) (“LOGISTEC”), a cargo handling and marine services provider with 25 port locations within the United States.
IEA intends to leverage its proven engineering, procurement, and construction (“EPC”) solutions with LOGISTEC’s cargo handling capabilities in support of new utility-scale offshore wind developments along the U.S. east coast. Both companies believe this non-exclusive business alliance will result in improved economies of scale and supply chain efficiencies over the long-term.
In 2021, the United States Departments of Interior (DOI), Energy (DOE), and Commerce (DOC) announced a shared goal to deploy 30 gigawatts (GW) of offshore wind power in the United States by 2030. These capacity additions are expected to generate sufficient power to support more than 10 million American homes annually, while eliminating approximately 78 million metric tons of CO2 emissions.
As one of the largest utility scale wind engineering and construction firms in the U.S., IEA will utilize its logistics expertise to capitalize on the planned, multi-year investment in offshore capacity additions, leveraging LOGISTEC’s experience as a leader in the handling of specialized wind components.
“As a leading EPC company serving the domestic onshore wind industry, IEA is uniquely positioned to capitalize on a long-term trend toward increased investment in offshore wind development,” stated JP Roehm, CEO of IEA. “We believe this alliance will allow for improved logistics, supply chain, and material handling capability along the East Coast corridor where LOGISTEC has a significant geographic presence, one well-suited to service planned offshore wind developments in the region.”
“This unique partnership between IEA and LOGISTEC will provide customers with a truly integrated service for the burgeoning offshore wind market,” explained Rodney Corrigan, President of LOGISTEC USA Inc. “IEA’s renowned suite of specialized services in the renewable energy sector paired with our field proven wind handling expertise will bring clean energy to communities in support of a sustainable future for generations to come.”
ABOUT IEA
Infrastructure and Energy Alternatives, Inc. is a leading infrastructure construction company with renewable energy and specialty civil expertise. Headquartered in Indianapolis, Indiana, with operations throughout the country, IEA’s service offering spans the entire construction process. The Company offers a full spectrum of delivery models including full engineering, procurement, and construction, turnkey, design-build, balance of plant, and subcontracting services. IEA is one of the larger providers in the renewable energy industry and has completed more than 240 utility scale wind and solar projects across North America. In the heavy-civil space, IEA offers a number of specialty services including environmental remediation, industrial maintenance, specialty transportation infrastructure and other site development for public and private projects. For more information, please visit IEA’s website at www.iea.net or follow IEA on Facebook, LinkedIn and Twitter for the latest company news and events.
ABOUT LOGISTEC CORPORATION
LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 54 ports and 80 terminals located in North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to foreign shipowners and operators serving the Canadian market. Furthermore, the company operates in the environmental industry where it provides services to industrial, municipal and other governmental customers for the renewal of underground water mains, site remediation, dredging and dewatering, soils and materials management, risk assessment, and manufacturing of woven hoses.
INVESTOR CONTACT
Aaron Reddington, CFA
investors@iea.net
For further information - LOGISTEC:
Marie-Chantal Savoy
Vice-President, Strategy and Communications
LOGISTEC Corporation
Phone: (514) 985-2337
msavoy@logistec.com
FAQ
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