Tetra Tech Wins $500M Contract for Environmental Remediation Services

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been awarded a $500 million contract by the U.S. Army Corps of Engineers to provide environmental remediation services for the Department of Defense outside the continental United States (OCONUS). This contract involves the identification, recovery, and remediation of hazardous waste, leveraging Tetra Tech's expertise in real-time data collection and GIS technology. The company's longstanding relationship with the U.S. Army includes over 20 years of support for environmental cleanup programs.

Positive

• Awarded $500 million contract for environmental remediation services.
• Contract enhances Tetra Tech's long-standing relationship with the U.S. Army Corps of Engineers.

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. Army Corps of Engineers (USACE), Engineering and Support Center, Huntsville (Huntsville Center), selected the Company to provide comprehensive environmental remediation services to the Department of Defense outside the continental United States (OCONUS). The value of the indefinite delivery, indefinite quantity, multiple-award International Remediation and Environmental Services contract is $500 million.

Tetra Tech will work with the Huntsville Center to safely identify, recover, and remediate hazardous, toxic, and radiological waste at OCONUS sites. Tetra Tech’s scientists, engineers, and geophysicists will provide technical services to address human health and environmental risks using real-time field data collection and web-accessible GIS visualization to support engineering evaluations, sampling and analysis, and remedial or removal actions.

“Tetra Tech has supported the U.S. Army’s environmental clean-up programs for more than two decades,” said Dan Batrack, Tetra Tech Chairman and CEO. “We are pleased to continue using our Leading with Science^® approach to support the USACE Huntsville Center as it works to restore lands and waters to safe and productive use and improve lives in communities around the world.”

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/20220801005845/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the value of the new contract awarded to Tetra Tech by the U.S. Army Corps of Engineers?

The new contract is valued at $500 million.

What services will Tetra Tech provide under the new contract with the U.S. Army?

Tetra Tech will provide comprehensive environmental remediation services, including the identification and recovery of hazardous waste.

How long has Tetra Tech been supporting the U.S. Army's environmental clean-up programs?

Tetra Tech has supported the U.S. Army's environmental clean-up programs for over 20 years.

What is the main focus of Tetra Tech's work under the new contract?

The focus is on addressing human health and environmental risks at OCONUS sites.