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V2X and Parsons Establish Joint Venture to Pursue National Science Foundation Antarctica Contract

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V2X Inc. (NYSE: VVX) has formed a strategic joint venture with Parsons (NYSE: PSN) called Polar Science Alliance (PSA) to pursue the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC). The contract has an $8 billion ceiling value and aims to support the United States Antarctic Program (USAP) over the next two decades.

V2X brings over a decade of polar operations experience and was recently awarded a ten-year follow-on option for the U.S. Space Force Pituffik Space Base in Greenland. Parsons contributes 55 years of polar operations expertise, including work on the Antarctica Infrastructure Modernization for Science Project. The joint venture will support NSF's scientific research activities and logistical operations in Antarctica and the Southern Ocean.

V2X Inc. (NYSE: VVX) ha formato una joint venture strategica con Parsons (NYSE: PSN) chiamata Polar Science Alliance (PSA) per perseguire il contratto di supporto scientifico e ingegneristico dell'Antartide della National Science Foundation (ASESC). Il contratto ha un valore massimo di 8 miliardi di dollari e mira a supportare il Programma Antartico degli Stati Uniti (USAP) nei prossimi due decenni.

V2X porta con sé oltre un decennio di esperienza nelle operazioni polari ed è stata recentemente premiata con un'opzione di follow-on di dieci anni per la base spaziale Pituffik della Space Force degli Stati Uniti in Groenlandia. Parsons contribuisce con 55 anni di esperienza nelle operazioni polari, incluso il lavoro sul progetto di modernizzazione delle infrastrutture antartiche per la scienza. La joint venture supporterà le attività di ricerca scientifica e le operazioni logistiche della NSF in Antartide e nell'Oceano Meridionale.

V2X Inc. (NYSE: VVX) ha formado una asociación estratégica con Parsons (NYSE: PSN) llamada Polar Science Alliance (PSA) para perseguir el contrato de apoyo científico y de ingeniería de la National Science Foundation en la Antártida (ASESC). El contrato tiene un valor máximo de 8 mil millones de dólares y tiene como objetivo apoyar el Programa Antártico de los Estados Unidos (USAP) durante las próximas dos décadas.

V2X aporta más de una década de experiencia en operaciones polares y recientemente recibió una opción de seguimiento de diez años para la Base Espacial Pituffik de la Fuerza Espacial de EE. UU. en Groenlandia. Parsons contribuye con 55 años de experiencia en operaciones polares, incluidos trabajos en el proyecto de modernización de infraestructura antártica para la ciencia. La asociación apoyará las actividades de investigación científica y las operaciones logísticas de la NSF en la Antártida y el Océano Austral.

V2X Inc. (NYSE: VVX)Parsons (NYSE: PSN)와의 전략적 합작 투자인 Polar Science Alliance (PSA)를 통해 미국 국가과학재단의 남극 과학 및 엔지니어링 지원 계약(ASESC)을 추진하고 있습니다. 이 계약의 총액 한도는 80억 달러이며, 향후 20년간 미국 남극 프로그램(USAP)을 지원하는 것을 목표로 하고 있습니다.

V2X는 남극 작전 경험이 10년 이상이고 최근에는 그린란드의 미 우주군 피투픽 우주 기지에 대한 10년 연속 옵션을 수여받았습니다. Parsons는 남극 인프라 현대화 프로젝트 작업을 포함하여 55년간의 남극 작전 전문 지식을 기여합니다. 이번 합작 투자는 NSF의 남극 및 남부 대양에서의 과학 연구 활동과 물류 운영을 지원할 것입니다.

V2X Inc. (NYSE: VVX) a formé un joint-venture stratégique avec Parsons (NYSE: PSN) appelé Polar Science Alliance (PSA) pour obtenir le contrat d'assistance scientifique et technique en Antarctique de la National Science Foundation (ASESC). Ce contrat a une valeur maximale de 8 milliards de dollars et vise à soutenir le Programme Antarctique des États-Unis (USAP) au cours des deux prochaines décennies.

V2X apporte plus de dix ans d'expérience dans les opérations polaires et a récemment été récompensée par une option de suivi de dix ans pour la base spatiale Pituffik de la Space Force des États-Unis au Groenland. Parsons contribue avec 55 ans d'expertise dans les opérations polaires, y compris des travaux sur le projet de modernisation des infrastructures en Antarctique pour la science. Le joint-venture soutiendra les activités de recherche scientifique et les opérations logistiques de la NSF en Antarctique et dans l'océan Austral.

V2X Inc. (NYSE: VVX) hat ein strategisches Joint Venture mit Parsons (NYSE: PSN) namens Polar Science Alliance (PSA) gegründet, um den National Science Foundation Antarctica Science and Engineering Support Contract (ASESC) zu verfolgen. Dieser Vertrag hat einen Deckelwert von 8 Milliarden USD und zielt darauf ab, das US-amerikanische Antarktikprogramm (USAP) in den nächsten zwei Jahrzehnten zu unterstützen.

V2X bringt über ein Jahrzehnt Erfahrung im Bereich der Polaroperationen ein und wurde kürzlich eine zehnjährige Folgemaßnahme für die Pituffik Space Base der US Space Force in Grönland gewährt. Parsons steuert 55 Jahre Expertise im Bereich der Polaroperationen bei, einschließlich der Arbeiten am Antarktischen Infrastrukturmodernisierungsprojekt für die Wissenschaft. Das Joint Venture wird die wissenschaftlichen Forschungsaktivitäten und logistischen Operationen der NSF in der Antarktis und im Südlichen Ozean unterstützen.

Positive
  • Potential to secure an $8 billion contract through the joint venture
  • Recently awarded ten-year contract extension for U.S. Space Force base in Greenland
  • Strategic partnership combines V2X's logistics expertise with Parsons' infrastructure capabilities
Negative
  • None.

Insights

The formation of Polar Science Alliance (PSA) represents a strategic move to compete for a substantial $8 billion ceiling value contract with the National Science Foundation. This joint venture combines V2X's expertise in polar operations and logistics with Parsons' infrastructure and engineering capabilities, creating a formidable contender for the ASESC contract. The potential contract duration spanning two decades offers significant long-term revenue visibility and stability for both companies.

V2X's recent success in securing a ten-year follow-on contract for the U.S. Space Force base in Greenland demonstrates their proven track record in polar operations. The joint venture strategically positions both companies to capitalize on increasing scientific research activities in Antarctica, particularly related to climate change studies. The combined century-plus experience in science support services significantly enhances their competitive advantage in securing this high-value contract.

The potential $8 billion contract represents a significant opportunity for V2X, whose current market cap is approximately $1.89 billion. Securing this contract could substantially impact V2X's revenue stream and market valuation. The long-term nature of the contract (two decades) would provide stable, predictable cash flows and enhance the company's financial outlook.

The joint venture structure with Parsons helps distribute operational risks while combining complementary capabilities. V2X's existing polar operations experience, coupled with Parsons' infrastructure expertise, creates operational synergies that could lead to cost efficiencies and higher profit margins. The extended contract duration also provides protection against short-term market volatility and economic cycles.

RESTON, Va., Dec. 10, 2024 /PRNewswire/ -- V2X Inc., (NYSE: VVX) is pleased to announce a strategic joint venture with Parsons Corporation (NYSE: PSN) in pursuit of the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC) with an $8 billion ceiling value. The newly formed joint venture, named Polar Science Alliance (PSA), is a wholly dedicated entity which will enable world class scientific research support services for the United States Antarctic Program (USAP) over the next two decades.

For over six decades, the National Science Foundation (NSF) has maintained a vital U.S. presence in Antarctica, conducting extensive research on the continent and its ecosystems. The NSF's endeavors seek to comprehend Antarctica's influence on global processes like climate change and leverage the unique features of the region for scientific studies that are unparalleled elsewhere. Under the ASESC, the NSF oversees all U.S. scientific research activities and logistical operations in Antarctica and aboard vessels in the Southern Ocean through the USAP, which stands as one of the largest scientific research programs in the Antarctic region.

"V2X and Parsons have united to form a powerhouse team equipped to provide unmatched support to the NSF and support the USAP in its scientific research initiatives in Antarctica," said Ken Shreves, Senior Vice President of Mission Support at V2X. "With work from the Arctic U.S. Space Force base to the West-central Pacific Ocean U.S. Army Kwajalein Atoll, V2X is the top tier mission critical support services provider of choice for any geographical and geopolitical environment in the world."

V2X brings over a decade of experience in large-scale polar operations and logistics expertise and was recently awarded the follow-on option ten year period, supporting the multibillion-dollar U.S. Space Force, Pituffik Space Base in Greenland. V2X boasts decades of expertise in science support services. Leveraging industry-leading best practices and insights gleaned from a diverse portfolio of global programs in remote, challenging, and austere environments, V2X maximizes operational efficiency across all phases of mission execution, catering to the needs of government clients globally for the past 80 years.

"PSA stands ready to bring the experience and resources of its parent companies, Parsons and V2X, to the world-class United States Antarctic Program," added Jon Moretta, President, Engineered Systems for Parsons. "Parsons brings years of experience in polar operations to this joint venture, including work as the modernization designer and builder on the Antarctica Infrastructure Modernization for Science Project. We're proud to team with V2X for the opportunity to be NSF's USAP support services partner in enabling the world-class Antarctic science program."

Parsons is a leader in providing the federal government with solutions to the most complex infrastructure challenges. Parsons has 55 years of successful and proven polar operations experience beginning in 1970 on the North Slope of Alaska. The company's capabilities span program and construction management, engineering and planning, and logistics. As a global solutions provider, Parsons works in all environments, including the freezing temperatures and volcanic rock of Antarctica. The company uses technological innovation and harnesses the potential of artificial intelligence to empower smarter decision-making, drive efficiency, and support clients worldwide across infrastructure, the environment, and national security.

The Polar Science Alliance collectively brings world class capabilities in global logistics, operations and engineering coupled with over 100 years science and research support experience. To learn more about Polar Science Alliance, visit www.polarsciencealliance.com. To learn more about Parsons' federal infrastructure solutions, visit www.parsons.com/federal-infrastructure/. To learn more about V2X and its capabilities, please visit www.goV2X.com.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Media Contact
Angelica Spanos Deoudes 
Senior Director, Marketing and Communications
Angelica.Deoudes@goV2X.com 
571-338-5195

Investor Contact
Mike Smith, CFA 
Vice President, Treasury, Corporate Development and Investor Relations 
IR@goV2X.com 
719-637-5773

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SOURCE V2X, Inc.

FAQ

What is the value of the Antarctica Science and Engineering Support Contract (ASESC) that V2X (VVX) is pursuing?

The ASESC contract has an $8 billion ceiling value.

Who has V2X (VVX) partnered with for the Antarctica contract bid?

V2X has formed a joint venture called Polar Science Alliance (PSA) with Parsons

What recent polar region contract did V2X (VVX) secure in 2024?

V2X was awarded a ten-year follow-on option contract for the U.S. Space Force Pituffik Space Base in Greenland.

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