Tetra Tech Wins $35 Million USAID Water Efficiency and Conservation Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has secured a $35 million contract from the U.S. Agency for International Development (USAID) focused on enhancing water use efficiency in Jordan. This five-year initiative aims to support sustainable water management through market-based solutions, benefiting the government and local stakeholders. Tetra Tech's expertise will contribute to advancing water security and mitigating climate change impacts.

Positive

• Awarded a $35 million contract from USAID for water efficiency improvements in Jordan.
• Focus on sustainable water management aligns with global climate change mitigation efforts.

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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) has awarded the Company a $35 million, five-year, single-award contract to increase water use efficiency and conservation in Jordan.

Through the USAID Water Efficiency and Conservation Activity, Tetra Tech will provide science-based solutions to the Government of Jordan, private sector equipment suppliers, farmers, and other stakeholders to increase water security through improved water resource management. Tetra Tech technical experts will support the development of market-based approaches to foster water conservation and the adoption of technologies and policies that promote water efficiency and the use of alternative water sources.

“Tetra Tech has supported USAID to increase the sustainable management of water resources in developing countries for more than 40 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to use our Leading with Science^® approach to advance water security in Jordan to mitigate the effects of climate change.”

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/20221103005944/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the recent contract awarded to Tetra Tech (TTEK)?

Tetra Tech has been awarded a $35 million contract by USAID to enhance water use efficiency in Jordan.

How long is the contract for Tetra Tech (TTEK)?

The contract is a five-year single-award agreement.

What are the goals of Tetra Tech's contract with USAID?

The goals include increasing water security through improved resource management and promoting water conservation.

What is the value of Tetra Tech's contract with USAID?

The contract is valued at $35 million.

Which agency awarded the contract to Tetra Tech (TTEK)?

The contract was awarded by the U.S. Agency for International Development (USAID).