Willdan Selected to Deliver Three Maryland Energy Programs for FirstEnergy
Willdan Group, Inc. (NASDAQ: WLDN) has secured a contract from FirstEnergy Corp to expand its Small Business Solutions – Direct Install Program in Maryland. This three-year initiative now includes services such as real-time energy modeling and advanced building operations. Willdan previously surpassed goals of the program during the 2018-2020 cycle, showcasing its ability to deliver significant energy savings. CEO Tom Brisbin expressed gratitude for the expanded role, which aims to maximize energy savings for commercial customers.
- Secured a three-year contract with FirstEnergy Corp for energy-saving services.
- Expanded service offerings to include advanced energy modeling and building operations.
- Previously exceeded energy savings goals for the 2018-2020 program cycle.
- Risks associated with ongoing COVID-19 pandemic affecting operations and growth.
- Dependence on winning new contracts and competitive bidding processes.
Willdan Group, Inc. (NASDAQ: WLDN) announced today that FirstEnergy Corp. has awarded Willdan a contract to continue implementing the Small Business Solutions – Direct Install Program in Maryland and to launch two new programs: Retro-Commissioning / Building Operations and Custom New Construction. This three-year contract expands Willdan’s services from the direct installation of lighting and refrigeration measures to now include real-time energy modeling (with Willdan’s Net Energy Optimizer® software), building tune-ups, advanced rooftop controls, monitoring-based commissioning, and other energy-saving services.
Willdan opened its first office in Maryland in 2018 to support FirstEnergy’s Small Business Solutions – Direct Install Program. Despite challenges presented by the ongoing COVID-19 pandemic, Willdan successfully exceeded the program’s 2018-2020 savings goal, which was three times larger than the previous program cycle. The Building Tune-Up Program and New Construction Program are the first of its kind for FirstEnergy.
“We’re thankful for this opportunity to broaden our reach with FirstEnergy’s commercial customers, helping both existing and new buildings save energy,” said Tom Brisbin, Willdan’s CEO and Chairman. “Our trusted, local team will continue to work closely with in-house engineers and subject matter experts to offer an easy, seamless experience with maximum savings.”
About FirstEnergy
FirstEnergy is dedicated to safety, reliability, and operational excellence. Its 10 electric distribution companies form one of the nation’s largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. The company’s transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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, 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, including statements regarding Willdan’s intentions, hopes, beliefs, expectations, representations, projections, estimates, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to reduce costs and preserve liquidity to maintain its operations during the continuation of this pandemic nor be able to resume its growth trajectory once pandemic-related restrictions are lifted and the economy begins to recover. 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 ultimate impact of the COVID-19 pandemic on Willdan’s results, prospects, and opportunities; Willdan’s ability to adequately complete projects in a timely manner; Willdan’s ability to compete successfully in the highly competitive energy efficiency services market; changes in state, local, and regional economies and government budgets; Willdan’s ability to win new contracts, to renew existing contracts, and to compete effectively for contract awards through bidding processes; and Willdan’s ability to successfully integrate its acquisitions and execute on its growth strategy. Willdan’s business could be affected by a number of other factors, including 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 27, 2019. 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.
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FAQ
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