Tetra Tech Awarded $108 Million U.S. Department of Energy Blanket Purchase Agreement for Environmental Support Services

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $108 million, five-year blanket purchase agreement with the U.S. Department of Energy. This contract will provide environmental support services aimed at assessing the potential impacts of energy projects. Tetra Tech will utilize advanced analytics and predictive modeling under its Leading with Science® methodology. CEO Dan Batrack emphasized the company's longstanding collaboration with the Department of Energy, focusing on scientific assessments for future projects.

Positive

• Awarded $108 million contract with the U.S. Department of Energy.
• Five-year commitment providing stability in revenue.
• Utilization of advanced analytics and predictive modeling enhances project credibility.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that it has been awarded an estimated $108 million, five-year, multiple-award blanket purchase agreement (BPA) to provide environmental support services to the U.S. Department of Energy to address its energy projects and associated potential environmental impacts using science-based technology solutions.

Tetra Tech technical experts will identify and analyze the potential environmental impacts of proposed projects to land, air and water, using applied research, field investigations, advanced analytics, and predictive modeling. Under this BPA, Tetra Tech will apply our Leading with Science® approach to assess floodplain and wetland conditions, analyze greenhouse gas emissions, and prepare stormwater management plans.

“Tetra Tech has worked with the Department of Energy for more than three decades to ensure that federal agencies comprehensively evaluate the potential environmental impacts of their proposed projects,” said Dan Batrack, Tetra Tech Chairman and CEO. “Tetra Tech is pleased to continue to support the Department of Energy’s efforts to promote the most advanced scientific and technological methodologies in evaluating the impacts of their future projects.”

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/20221026005951/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the value of Tetra Tech's new contract with the U.S. Department of Energy?

Tetra Tech has been awarded a $108 million contract.

How long is Tetra Tech's agreement with the Department of Energy?

The agreement is for five years.

What services will Tetra Tech provide under its new contract?

Tetra Tech will provide environmental support services, including assessing potential environmental impacts.

Under which methodology will Tetra Tech conduct its assessments?

Tetra Tech will apply its Leading with Science® approach.