urban-gro Secures Contract to Provide Full Architectural and Interior Design Services on Municipal Water Authority Project in Henry County, Georgia
urban-gro, Inc. (Nasdaq:UGRO) has been chosen to provide full architectural and interior design services for the new Henry County Water Authority (HCWA) project in McDonough, Georgia. The project aims to consolidate multiple departments into a single, modern workspace including a new office building, shop, warehouse, and ancillary structures.
Work on the project is starting immediately, with the majority of the contracted revenue expected to be recognized by the end of the second quarter of 2025. urban-gro will collaborate with Nashville-based engineering firm BARGE Design Solutions on this project, focusing on designing a functional and sustainable community resource.
urban-gro, Inc. (Nasdaq:UGRO) è stata scelta per fornire servizi completi di architettura e design d'interni per il nuovo progetto dell'Henry County Water Authority (HCWA) a McDonough, Georgia. Il progetto mira a consolidare più dipartimenti in un unico e moderno spazio di lavoro, inclusi un nuovo edificio per uffici, un'officina, un magazzino e strutture accessorie.
I lavori sul progetto iniziano immediatamente, con la maggior parte delle entrate contrattate che saranno riconosciute entro la fine del secondo trimestre del 2025. urban-gro collaborerà con la società di ingegneria con sede a Nashville, BARGE Design Solutions, concentrandosi sulla progettazione di una risorsa comunitaria funzionale e sostenibile.
urban-gro, Inc. (Nasdaq:UGRO) ha sido seleccionada para proporcionar servicios completos de arquitectura y diseño de interiores para el nuevo proyecto de la Autoridad de Agua del Condado de Henry (HCWA) en McDonough, Georgia. El proyecto tiene como objetivo consolidar múltiples departamentos en un único y moderno espacio de trabajo que incluye un nuevo edificio de oficinas, un taller, un almacén y estructuras auxiliares.
Los trabajos en el proyecto comienzan de inmediato, y se espera que la mayor parte de los ingresos contratados se reconozca para finales del segundo trimestre de 2025. urban-gro colaborará con la firma de ingeniería de Nashville, BARGE Design Solutions, centrándose en diseñar un recurso comunitario funcional y sostenible.
urban-gro, Inc. (Nasdaq:UGRO)는 조지아주 맥돈너에 있는 헨리 카운티 수자원 관리국(HCWA)의 새로운 프로젝트를 위해 전체 건축 및 인테리어 디자인 서비스를 제공하기 위해 선정되었습니다. 이 프로젝트는 여러 부서를 하나의 현대적인 작업 공간으로 통합하는 것을 목표로 하며, 새로운 사무소 건물, 작업장, 창고 및 부속 구조물이 포함됩니다.
프로젝트 작업은 즉시 시작됩니다, 계약된 수익의 대부분은 2025년 2분기 말까지 인식될 것으로 예상됩니다. urban-gro는 내쉬빌에 본사를 둔 엔지니어링 회사인 BARGE Design Solutions와 협력하여 기능적이고 지속 가능한 커뮤니티 자원을 설계하는 데 집중할 것입니다.
urban-gro, Inc. (Nasdaq:UGRO) a été sélectionnée pour fournir des services complets d'architecture et de design intérieur pour le nouveau projet de l'Henry County Water Authority (HCWA) à McDonough, en Géorgie. Le projet vise à consolider plusieurs départements en un espace de travail moderne et unique, incluant un nouveau bâtiment de bureaux, un atelier, un entrepôt et des structures auxiliaires.
Les travaux sur le projet commencent immédiatement, la majorité des revenus contractuels devant être reconnus d'ici la fin du deuxième trimestre 2025. urban-gro collaborera avec la société d'ingénierie BARGE Design Solutions, basée à Nashville, en se concentrant sur la conception d'une ressource communautaire fonctionnelle et durable.
urban-gro, Inc. (Nasdaq:UGRO) wurde ausgewählt, um umfassende Architektur- und Innendesign-Dienstleistungen für das neue Projekt der Henry County Water Authority (HCWA) in McDonough, Georgia, bereitzustellen. Das Projekt zielt darauf ab, mehrere Abteilungen in einem modernen Arbeitsumfeld zusammenzuführen, einschließlich eines neuen Bürogebäudes, einer Werkstatt, eines Lagers und angegliederter Strukturen.
Die Arbeiten an dem Projekt beginnen sofort, wobei der größte Teil der vertraglich vereinbarten Einnahmen bis Ende des zweiten Quartals 2025 anerkannt werden soll. urban-gro wird mit dem in Nashville ansässigen Ingenieurbüro BARGE Design Solutions zusammenarbeiten und sich darauf konzentrieren, eine funktionale und nachhaltige Gemeinschaftsressource zu entwerfen.
- Secured a new contract for architectural and interior design services
- Project revenue expected to be recognized by Q2 2025
- Strengthening collaborative relationship with BARGE Design Solutions
- None.
Insights
The contract secured by urban-gro for the Henry County Water Authority project represents a positive development for the company. While the exact contract value is not disclosed, it's likely to be significant given the scope of work, which includes full architectural and interior design services for a new office building, shop, warehouse and ancillary structures.
Key points to consider:
- Revenue Recognition: The majority of the contracted revenue is expected to be recognized by the end of Q2 2025, providing visibility into future earnings.
- Diversification: This project demonstrates urban-gro's ability to secure contracts outside its traditional cannabis-focused business, potentially opening up new revenue streams in the municipal sector.
- Partnership: The collaboration with BARGE Design Solutions could lead to future opportunities in similar projects.
- Long-term Impact: Successful execution of this high-profile municipal project could enhance urban-gro's reputation and lead to more contracts in the public sector.
For investors, this contract signals potential growth and diversification for urban-gro, which could positively impact the company's financial performance and stock valuation in the medium term. However, the full financial impact will depend on the project's execution and profitability.
LAFAYETTE, CO / ACCESSWIRE / October 7, 2024 / urban-gro, Inc. (Nasdaq:UGRO) ("urban-gro" or the "Company"), an integrated professional services and Design-Build firm offering solutions to multiple sectors, today announced that the firm has been selected to provide full architectural and interior design services for the new Henry County Water Authority ("HCWA") project. Work is commencing immediately, and the majority of the contracted revenue is expected to be recognized by the end of the second quarter of 2025.
Located in McDonough, Georgia, the project will consolidate multiple departments into a single, 21st-century workspace featuring a new office building, shop, warehouse, and ancillary structures. The Company will serve as the architectural and interior design team partner under Nashville, Tennessee-based engineering firm, BARGE Design Solutions ("BARGE").
"We are proud to be a part of the HCWA project team and for the opportunity to further strengthen our longtime collaborative relationship with BARGE. Our team will focus on designing a functional and sustainable community resource that will serve the region for generations to come," said Bradley Nattrass, Chairman and CEO.
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq: UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ("CEA"), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver Your Vision - Built. Learn more by visiting www.urban-gro.com.
Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as "believes," "will," "expects," "anticipates," "may," "projects" and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, financial projections, financial guidance, future events, business strategy, future performance, future operations, future demand, backlog, financial position, estimated revenues, losses, adjusted EBITDA, prospects, plans and objectives of management, including the future ability to position the Company for long-term profitable growth. These and other forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to successfully manage and integrate acquisitions, our ability to accurately forecast revenues and costs, competition for projects in our markets, our ability to predict and respond to new laws and governmental regulatory actions, including delays granting licenses to clients or potential clients and delays in passage of legislation expected to benefit our clients or potential clients, our ability to successfully develop new and/or enhancements to our product offerings and develop a product mix to meet demand, risks related to adverse weather conditions, supply chain issues, rising interest rates, economic downturn or other factors that could cause delays or the cancellation of projects in our backlog or our ability to secure future projects, our ability to maintain favorable relationships with suppliers, risks associated with reliance on key customers and suppliers, our ability to attract and retain key personnel, results of litigation and other claims and insurance coverage issues, risks related to our information technology systems and infrastructure, risks associated with climate change and ESG matters, our ability to maintain effective internal controls, our ability to execute on our strategic plans, our ability to achieve and maintain cost savings, the sufficiency of our liquidity and capital resources, and our ability to achieve our key initiatives for 2023, particularly our growth initiatives. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
Investor Contacts:
Jeff Sonnek - ICR, Inc.
(720) 730-8160
investors@urban-gro.com
Media Contact:
Barbara Graham - urban-gro, Inc.
(720) 903-1139
media@urban-gro.com
SOURCE: urban-gro, Inc.
View the original press release on accesswire.com
FAQ
What is the new project urban-gro (UGRO) has secured?
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