ANAHEIM, Calif.—(BUSINESS WIRE)—Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has been awarded a three-year, $7.8 million Small Business Solutions – Direct Install Program from Potomac Edison. The three-year contract is expected to deliver 24,000 megawatt-hours (MWh) of electric savings.
“Maryland’s EmPOWER legislation establishes an energy savings framework for all energy providers and consumers in the state, including savings goals, the required planning process, and stakeholder incentives,” said Tom Brisbin, Willdan CEO. “We will bring our experience running very similar programs throughout California, New York, and Washington to the Maryland market. We appreciate the opportunity to work with FirstEnergy and Potomac Edison on this program.”
This is Willdan’s first program with Potomac Edison, a FirstEnergy utility company. Through this direct install program, Willdan will offer energy audits and turnkey services to small business customers (up to 60 kW demand), installing energy-saving measures for lighting, refrigeration, HVAC, and other mechanical systems. Financial incentives will be available for the implementation of additional efficiency measures.
About Potomac Edison
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
About Willdan
Willdan provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States. The Company's service offerings span a broad set of complementary disciplines that include energy efficiency and sustainability, engineering and planning, financial and economic consulting, and national preparedness. Willdan provides integrated technical solutions to extend the reach and resources of its clients, and provides all services through its subsidiaries specialized in each segment. 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 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, a slowdown in the local and regional economies of the states where Willdan conducts business and the loss of or inability to hire additional qualified professionals. Willdan's business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan's SEC reports including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 30, 2016 and the Quarterly Report on Form 10-Q for the quarter ended September 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.
Contacts
Willdan Group, Inc.
Stacy McLaughlin
Chief Financial Officer
714-940-6300
smclaughlin@willdan.com
or
Investor/Media Contact
Financial Profiles, Inc.
Tony Rossi, 310-622-8221
trossi@finprofiles.com
