Tetra Tech Wins $19.5 Million USAID Water and Energy for Food Innovation Hub Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $19.5 million contract by the U.S. Agency for International Development (USAID) for a four-year project to implement the Water and Energy for Food (WE4F) Southern and Central Africa Regional Innovation Hub. This initiative aims to scale water-energy-food nexus innovations to enhance sustainable food production and promote climate resilience. Tetra Tech will provide technical assistance to regional companies to increase food production through sustainable practices, continuing its 30-year support of USAID's energy reform programs in Sub-Saharan Africa.

Positive

• Awarded a $19.5 million contract from USAID for a four-year project.
• Project focuses on enhancing sustainable food production and environmental resilience.
• Continues a long-standing partnership with USAID, boosting credibility.

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• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that the U.S. Agency for International Development (USAID) awarded the Company a four-year, $19.5 million, single-award contract to implement the Water and Energy for Food (WE4F) Southern and Central Africa Regional Innovation Hub in collaboration with Open Capital Advisors and the International Water Management Institute. WE4F focuses on scaling water-energy-food nexus innovations to enhance sustainable food production; increase income for marginalized populations; and promote biodiversity, climate, and environmental resilience.

Tetra Tech energy specialists will support the development and management of the Regional Innovation Hub to identify water-energy-food nexus companies throughout the region. Tetra Tech will support these companies to grow their operations through customized technical assistance that will increase food production through sustainable water and energy usage.

“Tetra Tech has supported USAID’s energy reform programs—including utility modernization and deployment of advanced off-grid power solutions—in Sub-Saharan Africa for more than 30 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to use our Leading with Science^® approach to create sustainable water and clean energy solutions that build climate resilience and economic prosperity.”

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/20211012005303/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the new contract awarded to Tetra Tech (TTEK) by USAID?

Tetra Tech was awarded a $19.5 million contract by USAID to implement the WE4F Southern and Central Africa Regional Innovation Hub.

How long is the contract Tetra Tech (TTEK) received from USAID?

The contract is for a duration of four years.

What is the purpose of the WE4F initiative that Tetra Tech (TTEK) is involved in?

The WE4F initiative aims to scale water-energy-food nexus innovations to enhance sustainable food production and promote resilience in the environment.

What experience does Tetra Tech (TTEK) have with USAID projects?

Tetra Tech has over 30 years of experience supporting USAID's energy reform programs in Sub-Saharan Africa.