Willdan to Update King County’s Aquatic Center with $4.3 Million Energy Savings Performance Contract

Rhea-AI Summary

Willdan Group, Inc. (NASDAQ: WLDN) has announced a $4.3 million contract for upgrades to the Weyerhaeuser King County Aquatic Center through energy savings performance contracts. The upgrades, guided by a competitive investment grade audit, include refinishing pool surfaces and replacing HVAC and heating equipment with a high-efficiency, all-electric system. This initiative aligns with King County's commitment to low-carbon improvements and follows Willdan's prior energy projects at the facility, which has hosted over 50 events annually and generates more than $7.5 million in economic impact for the region.

Positive

• Contract awarded for upgrades worth $4.3 million enhances facility performance.
• Projects support King County's low-carbon initiatives and environmental footprint improvement.
• Weyerhaeuser King County Aquatic Center generates economic activity exceeding $7.5 million annually.

Negative

• None.

ANAHEIM, Calif.--(BUSINESS WIRE)-- Willdan Group, Inc. (NASDAQ: WLDN) announced today that it will provide upgrades to the Weyerhaeuser King County Aquatic Center through energy savings performance contracts with a combined value of $4.3 million. The Aquatic Center is one of the preeminent competitive swimming facilities in the United States and generates substantial economic activity for the county and local communities. The contracted projects were guided by an investment grade audit that Willdan won through a competitive selection process. The work is contracted through the State Department of Enterprise Services Energy Program.

Projects include improvements to the competition spaces of the main natatorium, such as the surface refinishing of 20,000 square feet of pool deck and dive tank bottom, and the replacement of HVAC and pool water heating equipment with a new, high-efficiency, all-electric system. This is a continuation of King County’s commitment to low-carbon facility improvements and follows Willdan’s installation of two large solar arrays on this same facility in 2015 and 2018. Willdan has supported energy and engineering projects at this facility for nearly 20 years.

“This aquatic center holds a very special place in our community, and we take great pride in our efforts to improve our environmental footprint while continuing to provide a world-class competitive facility,” said Mike Dunwiddie, Regional Aquatic Center Coordinator for King County. “We look forward to having these upgrades in place when we host the 2025 NCAA Men’s and Women’s Swimming and Diving Nationals and the 2025 US Masters Swimming Summer National Championship.”

About the Weyerhaeuser King County Aquatic Center

The Weyerhaeuser King County Aquatic Center is a legacy venue of the 1990 Seattle Goodwill Games. This 2,500-seat facility maintains one of the most active competition schedules in the country, hosting more than 50 events annually. It has been the site of Olympic Trials, top national and international competitions, and the Pacific Northwest’s premiere events. A recent economic study conducted for King County measured the financial impact of these events on the region in excess of $7.5 million annually.

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 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 31, 2021. 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/20230105005246/en/

Al Kaschalk

VP Investor Relations

310-922-5643

akaschalk@willdan.com

Source: Willdan Group, Inc.

FAQ

What is the value of the contract Willdan Group secured for the Weyerhaeuser King County Aquatic Center?

Willdan Group secured a contract valued at $4.3 million for upgrades to the Weyerhaeuser King County Aquatic Center.

What improvements will be made at the Weyerhaeuser King County Aquatic Center?

Improvements include refinishing pool surfaces and replacing HVAC and heating equipment with a new, high-efficiency, all-electric system.

How does the Weyerhaeuser King County Aquatic Center impact the local economy?

The aquatic center generates over $7.5 million in economic activity annually through hosting more than 50 events each year.

When will the upgrades at the Aquatic Center be completed?

The upgrades are expected to be in place in time for the 2025 NCAA Men’s and Women’s Swimming and Diving Nationals.

What is the significance of Willdan's previous projects at the Aquatic Center?

Willdan has been involved in energy and engineering projects at the Aquatic Center for nearly 20 years, showcasing their long-term commitment to its improvement.