Tetra Tech and Cognite Partner to Accelerate Digitalization in the Energy Utility Industry

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has announced a strategic partnership with Cognite, a leader in industrial SaaS, to enhance digital transformation for utility clients. This collaboration aims to integrate Tetra Tech's utility management expertise with Cognite's DataOps platform, enhancing the speed and efficiency of data innovation, digital transformation, and decarbonization efforts.

The partnership focuses on reducing data complexity and improving operational efficiency, aiming to cut down data management time by 90% and accelerate digital use case development by 10-25 times.

Positive

• Strategic partnership with Cognite enhances digital capabilities.
• Utilizes Cognite's DataOps platform to streamline data processes.
• Aims to improve operational efficiency in utility management.

Negative

• None.

New partnership will enable utility clients to fast-track value realization in data innovation, digital transformation, and decarbonization

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today our strategic partnership with Cognite, a global industrial software-as-a-service (SaaS) company driving full-scale digital transformation of asset-heavy industries. The partnership combines Tetra Tech’s utility management consulting expertise with Cognite’s leading Industrial DataOps platform, Cognite Data Fusion™, to help energy utilities remove data silos and enable users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications.

Together, Tetra Tech and Cognite will enable utilities to increase resilience and drive decarbonization with digital twin-based technology and practices for predictive maintenance, digital inspections, and system analytics.

Cognite Data Fusion will augment the Tetra Tech Delta suite of proprietary technologies and analytical tools and is part of our Leading with Science^® approach to deliver clear solutions to the most complex client challenges. Cognite will add its technical and development support for implementation within the utility technology ecosystem to Tetra Tech’s deep and detailed utility operations experience to advance accelerated adoption and change management in asset management and maintenance.

“Utility companies manage a significant amount of data, and the accelerated deployment of renewable energy, battery storage, and electric vehicle mobility will further increase data complexity,” said Dan Batrack, Tetra Tech Chairman and CEO. “Through our partnership with Cognite, we will use our Leading with Science approach to help utility clients streamline data sets and establish a platform to enable digital innovation for core operations.”

Trygve Ronningen, Executive Vice President of Operations, Cognite North America, said, “In operations, data must be anchored within the larger process for it to be leveraged in any meaningful way, be that to improve reliability, minimize risk, or increase operational flexibility. With Tetra Tech, we are excited to help more utilities take full advantage of their data by reducing time spent on data-related tasks by 90 percent and accelerating digital use case development by 10-25 times.”

For more information on Tetra Tech’s and Cognite’s joint approach to digital twin-based technology, read our Utility Analytics Institute article, “Demystifying the Digital Twin. Time to Rethink the Definition?”

About Cognite

Cognite is a global industrial SaaS company that was established with one clear vision: to rapidly empower industrial companies with contextualized, trustworthy, and accessible data to help drive the full-scale digital transformation of asset-heavy industries around the world. Our core Industrial DataOps platform, Cognite Data Fusion^®, enables industrial data and domain users to collaborate quickly and safely to develop, operationalize, and scale industrial AI solutions and applications to deliver both profitability and sustainability. Visit us at www.cognite.com and follow us on Twitter and LinkedIn.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006253/en/

Tetra Tech Contacts:

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

+1 (626) 470-2844

Cognite Contact:

Michelle Holford, Global PR Lead

+1 (512) 744-3420 (US)

+47 482 90 454 (Norway)

michelle.holford@cognite.com

Source: Tetra Tech, Inc.

FAQ

What is Tetra Tech's new partnership about?

Tetra Tech's new partnership with Cognite focuses on enhancing digital transformation for utility clients by integrating Tetra Tech's consulting expertise with Cognite's DataOps platform.

How will the partnership impact Tetra Tech's utility clients?

The partnership aims to help utility clients remove data silos, streamline data management, and improve operational efficiency significantly.

What benefits does Tetra Tech expect from its partnership with Cognite?

Tetra Tech expects to reduce data management time by 90% and accelerate digital use case development by 10-25 times through this partnership.

What technologies will be used in the Tetra Tech and Cognite collaboration?

The collaboration will utilize digital twin technology for predictive maintenance, system analytics, and digital inspections.

What is the stock symbol for Tetra Tech?

The stock symbol for Tetra Tech is TTEK.