Willdan Selected by the City of Seattle to Implement Energy Design Assistance Program

Rhea-AI Summary

Willdan Group, Inc. (NASDAQ: WLDN) has been awarded a four-year contract by the City of Seattle to implement its Seattle City Light Energy Design Assistance Program. Under this contract, Willdan will provide technical assistance for energy-efficient design decisions in new multifamily and commercial buildings. The company will also partner with local women- and minority-owned businesses, sharing knowledge and its NEO® software for simplified energy modeling.

Patrick Campbell, Program Manager for Seattle City Light, emphasized the importance of designing buildings with electrification and energy efficiency in mind to achieve the city's shared energy future vision. Mike Bieber, Willdan's CEO, highlighted Seattle City Light's early adoption of energy modeling to advance decarbonization, noting that their tech-enabled approach allows utilities to meet growing demands for new construction while addressing energy goals and following strict energy codes.

Positive

• Secured a four-year contract with the City of Seattle
• Opportunity to implement Energy Design Assistance Program for Seattle City Light
• Potential for increased revenue through technical assistance services
• Expansion of market presence in the energy efficiency sector
• Collaboration with local women- and minority-owned businesses, potentially enhancing reputation

Negative

• None.

Insights

Energy Efficiency Consultant

This contract win for Willdan is a positive development, albeit with a immediate financial impact. The four-year agreement with Seattle City Light demonstrates Willdan's growing presence in the energy efficiency sector, particularly in new construction. The program's focus on multifamily and commercial buildings aligns well with urban development trends and increasing demand for energy-efficient designs. Willdan's NEO® software could be a key differentiator, potentially leading to future opportunities in other municipalities. The partnership aspect with local women- and minority-owned businesses is noteworthy, as it could enhance Willdan's reputation and open doors to additional contracts. However, without specific financial details, it's challenging to quantify the direct impact on Willdan's bottom line. Investors should view this as a strategic win that strengthens the company's position in the growing market for sustainable building solutions.

Environmental Policy Analyst

Seattle's selection of Willdan for this energy program is indicative of a broader trend in urban climate action. Cities are increasingly leveraging private sector expertise to meet ambitious decarbonization goals. This contract positions Willdan at the forefront of municipal efforts to reduce building-related emissions, a critical component of urban climate strategies. The focus on new construction is particularly impactful, as it's more cost-effective to design energy efficiency from the ground up rather than retrofitting existing structures. The program's emphasis on electrification aligns with the shift away from fossil fuels in building systems. While the immediate financial impact may be modest, this contract could serve as a model for other cities, potentially leading to a significant expansion of Willdan's municipal client base. Investors should consider this as a signal of Willdan's growing influence in shaping sustainable urban development policies.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that the City of Seattle has awarded Willdan a four-year contract to implement its Seattle City Light Energy Design Assistance Program. Under this contract, Willdan will provide technical assistance that supports energy-efficient design decisions in the development of new multifamily and commercial buildings. Willdan will also partner and subcontract with qualified, local women- and minority-owned businesses, sharing knowledge and its NEO^® software – a simplified energy modeling tool – to demonstrate ways to enhance the businesses’ current skillsets and broaden their impact in the industry.

“To achieve our vision of a shared energy future as a city, the next generation of buildings will need to be designed with electrification and energy efficiency in mind,” said Patrick Campbell, Program Manager for Seattle City Light. “This program moves us closer to these goals by giving design teams access to the tools and knowledge needed to effectively evaluate energy-efficient options.”

“We’re pleased that Seattle City Light is an early municipal adopter of energy modeling to advance decarbonization,” said Mike Bieber, Willdan’s CEO. “Our tech-enabled approach allows utilities of all sizes to cost-effectively meet growing demands for new construction while also addressing energy goals and following strict energy codes.”

About the City of Seattle

Founded in 1869, the City of Seattle is located in the State of Washington on Puget Sound, 113 miles (182 km) from the US-Canadian border. Seattle is a commercial, cultural, and advanced technology hub of the US Pacific Northwest and a major port city for trans-Pacific and European trade.

About Seattle City Light

Seattle City Light safely provides affordable, reliable, and environmentally sound electric power to the City of Seattle and neighboring cities. Ranked as the ninth largest publicly owned electric utility by customer size, the utility serves approximately 501,000 residential, commercial, and industrial customers. As a nationally recognized leader in energy efficiency, renewable resources, and environmental stewardship, City Light was the first utility to achieve 100% net carbon neutrality in 2005.

About Willdan

Willdan is a nationwide provider of professional, technical, and consulting services to utilities, government agencies, and private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions, energy efficiency and sustainability, energy policy planning and advisory, engineering and planning, and municipal financial consulting. For additional information, visit Willdan's website at www.willdan.com.

Forward-Looking Statements

Statements in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that Willdan’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed from time to time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 29, 2023. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241014125324/en/

Al Kaschalk

Vice President

310-922-5643

akaschalk@willdan.com

Source: Willdan Group, Inc.

FAQ

What contract did Willdan Group (WLDN) recently secure with the City of Seattle?

Willdan Group (WLDN) secured a four-year contract to implement Seattle City Light's Energy Design Assistance Program, providing technical assistance for energy-efficient design in new multifamily and commercial buildings.

How will Willdan (WLDN) support local businesses in Seattle through this contract?

Willdan (WLDN) will partner and subcontract with qualified local women- and minority-owned businesses, sharing knowledge and its NEO® software to enhance their skills and broaden their impact in the energy efficiency industry.

What is the purpose of Seattle City Light's Energy Design Assistance Program?

The program aims to support energy-efficient design decisions in the development of new multifamily and commercial buildings, advancing the city's goals of electrification and energy efficiency in future construction projects.

What technology will Willdan (WLDN) use in implementing the Seattle contract?

Willdan (WLDN) will use its NEO® software, a simplified energy modeling tool, to demonstrate ways to enhance energy efficiency in building designs and support the program's objectives.