Leidos Receives Success Memorandum from Defense Innovation Unit for its EV Charging as a Service Project

Rhea-AI Summary

Leidos (NYSE:LDOS) has received a success memorandum from the Defense Innovation Unit (DIU) for completing key milestones in its Electric Vehicle Charging as a Service (EV CaaS) prototype for the Department of Air Force. The company becomes the sole vendor authorized to provide a FedRAMP-accredited budget-neutral EV CaaS solution for the Department of Defense and U.S. government. Leidos completed initial prototype milestones in under a year at three Air Force bases and was awarded its first production agreement for Edwards Air Force Base. The solution includes make-ready infrastructure, cybersecure EV charging facilities, and a budget-neutral business model.

Positive

• Secured exclusive authorization as sole vendor for DOD's EV charging infrastructure
• Awarded first production agreement for Edwards Air Force Base implementation
• Successfully completed prototype milestones ahead of schedule (under one year)
• Developed scalable template for rapid deployment across military services

Negative

• None.

Insights

Government Contracts Analyst

This DIU success memorandum marks a significant milestone for Leidos in the federal EV infrastructure space. The designation as the sole authorized vendor for FedRAMP-accredited EV charging solutions opens up substantial revenue opportunities across the entire DOD and federal government landscape. The budget-neutral business model is particularly attractive as it removes financial barriers for government adoption.

The follow-on production contract for Edwards Air Force Base demonstrates immediate commercial traction. With a templated model now approved for rapid deployment across military services, this positions Leidos to capture a significant share of the federal government's $7.5 billion commitment to EV infrastructure. The project's successful implementation at three initial bases validates the scalability of their solution.

Energy Infrastructure Specialist

The technical achievement of delivering cybersecure EV charging facilities with third-party financing is noteworthy. The "make-ready infrastructure" approach ensures long-term flexibility and scalability. The FedRAMP accreditation is a important differentiator, as cybersecurity requirements often pose significant barriers to entry in federal infrastructure projects.

The budget-neutral EV CaaS model represents an innovative approach to infrastructure financing that could accelerate federal EV adoption. With Leidos' established presence in federal contracting and their proven ability to execute, this positions them as a key player in the government's transition to electric vehicles.

RESTON, Va., Oct. 24, 2024 /PRNewswire/ -- Leidos (NYSE:LDOS) announced today it has received a success memorandum from the Defense Innovation Unit (DIU) for the completion of key milestones in its Electric Vehicle Charging as a Service (EV CaaS) prototype for the Department of the Air Force (DAF). This milestone establishes Leidos as the sole vendor authorized by the DIU to provide a FedRAMP-accredited budget-neutral EV CaaS solution for the Department of Defense (DOD) and the U.S. government.

"We are honored to receive this recognition from the Defense Innovation Unit," said Vicki Schmanske, president of the Leidos Commercial & International Sector. "This achievement underscores our dedication to pioneering sustainable and efficient energy solutions that support the U.S. government's commitment to a resilient future. We are excited to build on this success and expand our partnership with the DOD to enhance critical infrastructure."

Leidos completed the initial prototype milestones in under a year, achieving significant progress in planning, designing, and deploying third party financed EV charging facilities and power infrastructure to electrify non-tactical fleet operations at Air Force Plant 42, Dover Air Force Base, and Fairchild Air Force Base.

This comprehensive effort provides government fleet and installation leaders with a budget-neutral solution that assures mission continuity at a pace to meet the arrival of non-tactical EVs. The success memo means Leidos is now officially authorized to deliver make-ready infrastructure, fully furnished and cybersecure EV charging facilities, and a first-in-government budget-neutral EV CaaS business model on a broad scale.  

Building on this success, Leidos was recently awarded its first production other transaction agreement by the DAF to design and build scaled EV charging infrastructure at Edwards Air Force Base, one of the Air Force's largest domestic installations. Under the agreement, Leidos has created a templated model for its solution to be deployed rapidly and securely across each of the military services and the DOD.

About Leidos

Leidos is a Fortune 500^® innovation company rapidly addressing the world's most vexing challenges in national security and health. The company's global workforce of 48,000 collaborates to create smarter technology solutions for customers in heavily regulated industries. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. For more information, visit www.leidos.com.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 29, 2023, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.  

Contact:                                                       

Alyssa Pettus
(571) 992-5499
alyssa.t.pettus@leidos.com 

Victor Melara
(703) 431-4612
victor.a.melara@leidos.com 

 

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SOURCE Leidos

FAQ

What authorization did Leidos (LDOS) receive from the Defense Innovation Unit in 2024?

Leidos received a success memorandum from DIU, becoming the sole authorized vendor to provide FedRAMP-accredited budget-neutral EV Charging as a Service solutions for the Department of Defense and U.S. government.

Which Air Force bases were included in Leidos' (LDOS) initial EV charging prototype?

The initial prototype included Air Force Plant 42, Dover Air Force Base, and Fairchild Air Force Base.

What was Leidos' (LDOS) first production agreement for EV charging infrastructure?

Leidos received its first production other transaction agreement to design and build scaled EV charging infrastructure at Edwards Air Force Base.