ANAHEIM, Calif.--(BUSINESS WIRE)--Feb. 19, 2019--
Willdan Group, Inc. (NASDAQ: WLDN) announced today that the Amalgamated
Housing Cooperative (Amalgamated) selected Willdan to implement a $7.5
million central plant upgrade project in New York. The project includes
a new combined heat and power system that will deliver emergency power
during blackouts, provide new opportunities for revenue, and enable the
facility to participate in demand response activities. The two-year
contract follows Willdan’s investment grade audit of Amalgamated’s
boilers and steam distribution system, which serve 1,487 units across
eleven multistory buildings.
“This project restores resiliency to our central plant, giving our
residents continuous heat even when the electric grid experiences
outages,” said Charles Zsebedics, Amalgamated’s General Manager.
The project includes the design and construction of a new boiler plant,
the removal of three 70-year-old boilers, the design and installation of
two new dual fuel high pressure steam boilers with stack economizers and
advanced boiler controls, and the installation of a 152 kW combined heat
and power system. Willdan will redesign steam pressure and plant
controls to better match building requirements and reduce operating
costs and energy consumption.
About Amalgamated Housing Cooperative (Amalgamated)
Established in 1927, Amalgamated is the oldest limited equity housing
cooperative in the United States. Amalgamated is located in Bronx, New
York, and is now home to nearly 1,500 families in eleven buildings. The
Amalgamated mission is to provide quality housing and a strong community
for people of moderate income. To operate and live in accordance with
the cooperative ideals, including democratic governance, shared
responsibility, constant education, and mutual respect.
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.
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 expand its
services or meet the needs of customers in markets in which it operates.
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, 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 (including with its two
largest customers) 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 29,
2017. 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/20190219005113/en/
Source: Willdan Group, Inc.
Willdan Group, Inc.
Financial Profiles, Inc.
Tony Rossi, 310-622-8221