Tetra Tech Wins $38 Million Flagship Global USAID Climate Adaptation Contract

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $38 million contract by the U.S. Agency for International Development (USAID) under the Climate Adaptation Support Activity (CASA) program. This five-year contract aims to enhance global climate adaptation and resilience initiatives. Tetra Tech's experts will develop predictive climate models to formulate disaster risk reduction strategies across various sectors. This contract reinforces Tetra Tech’s long-standing partnership with USAID, focusing on sustainable solutions to mitigate climate change impacts.

Positive

• Awarded a $38 million contract by USAID for climate adaptation programming.
• Contract supports the expansion of strategic climate resilience initiatives globally.
• Tetra Tech's expertise in predictive climate modeling strengthens its position in the market.

Negative

• 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 single-award contract with a $38 million ceiling, to support the expansion of strategic climate adaptation and resilience programming worldwide.

Under the five-year flagship global Climate Adaptation Support Activity (CASA), Tetra Tech will support USAID to achieve its Climate Strategy goals by designing forward-looking and inclusive adaptation and resilience programs worldwide.

Tetra Tech climate and disaster risk reduction experts will develop and apply predictive climate models that incorporate socioeconomic data to identify disaster risk reduction strategies and long-term climate change adaptation options in agriculture, water, energy, and other sectors.

“The impacts of global climate change continue to threaten the health and well-being of the world’s most vulnerable nations and communities,” said Dan Batrack, Tetra Tech Chairman and CEO. “Tetra Tech has supported USAID’s climate adaptation work in developing countries for more than 40 years. We look forward to using our Leading with Science^® approach to continue supporting USAID in their effort to accelerate climate action worldwide.”

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 water, environment, sustainable infrastructure, renewable energy, and international development problems. 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 facts 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/20221114005622/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the value of the contract awarded to Tetra Tech by USAID?

Tetra Tech was awarded a $38 million contract by USAID.

What is the primary goal of the CASA program involving Tetra Tech?

The CASA program aims to enhance global climate adaptation and resilience initiatives.

How long is the contract between Tetra Tech and USAID?

The contract is for five years.

What expertise will Tetra Tech provide under the USAID contract?

Tetra Tech will develop predictive climate models to identify disaster risk reduction strategies.

What ticker symbol represents Tetra Tech on the stock market?

Tetra Tech is represented by the ticker symbol TTEK.