US Department of Energy Selects ABM for Energy Savings Performance Contract
June 21 2017 - 8:00AM
Business Wire
ABM (NYSE: ABM), a leading provider of facility solutions,
announces that the US Department of Energy (DOE) selected ABM
Technical Solutions for placement on its Energy Savings Performance
Contract (ESPC) Multi-Award Task Order Contract (MATOC).
Selection to the DOE ESPC allows ABM to compete for more than
$750M of projects awarded through the contract each year. It is the
largest Energy Services Company (ESCO) contract vehicle managed by
the federal government and uses a rigorous selection process to
pre-qualify a limited number of ESCOs. The selection further
validates ABM’s track record of helping federal agencies reduce
costs through energy savings solutions by the Company’s Technical
Solutions group. ABM’s Technical Solutions group is focused on
creating financial solutions to meet clients’ technical facility
needs and sustainability goals. The goal is to drive costs out of a
client’s operating budget, allowing savings to be reallocated to
fund mission critical facility needs.
“ABM is proud to have been selected for this important contract
by the US Department of Energy,” said Mark Newsome, SVP and
President of ABM Technical Solutions. “With ABM’s past experience
in delivering performance contracting and energy solutions, we look
forward to utilizing our placement on the ESPC contract to reach
new federal agency clients.”
ABM Technical Solutions has worked with a number of federal
government-owned facilities including the US General Services
Administration (GSA). ABM provides extensive energy and facility
improvements to federal buildings throughout Southern California,
including the Edward R. Roybal Federal Building in Los Angeles; the
US Social Security Building in Huntington Park; the 300 North Los
Angeles (NLA) Building; the Glenn M. Anderson Federal Building in
Long Beach; and the Ronald Reagan Federal Building and US
Courthouse in Santa Ana. In all, ABM’s energy performance
contracting program guarantees savings of at least $48.4 million in
energy and operating costs over the next 20 years and will reduce
the buildings’ energy use by more than 40 percent.
“Our clients turn to us for innovative measures to meet their
critical facility needs,” said Ted O’Shea, Vice President, ABM
Technical Solutions. “Over the past four years, we have provided
energy saving solutions for the federal government’s infrastructure
that will generate more than $60 million in energy and operating
savings over the performance period.”
ESPC projects enable federal agencies to undertake energy
savings initiatives without incurring up-front capital costs. ESCOs
must have the capability to implement energy conservation measures
that reduce energy and water consumption or costs, increase
renewable energy use and/or may reduce energy and water-related
operations and maintenance (O&M) costs. ESCOs are required to
provide O&M costs and measurement and verification
annually.
Established by the Federal Energy Management Program (FEMP), the
US DOE ESPC was created in accordance with the Energy Policy Act of
1992 and 10 C.F.R. 436. The Qualified List of Energy Service
Companies is composed of private industry firms that have submitted
an application for evaluation by the Qualification Review Board.
Appointed by the US Department of Energy, the Qualification Review
Board assesses such applications on merits of past performance,
ability to finance energy services contracts, actual energy savings
of past projects, and other metrics.
CONNECT WITH ABM
- LinkedIn
- Twitter
- Facebook
- Google+
ABOUT ABM
ABM (NYSE: ABM) is a leading
provider of facility solutions with revenues of approximately $5.1
billion and over 100,000 employees in 300+ offices throughout the
United States and various international locations. ABM’s
comprehensive capabilities include janitorial, electrical &
lighting, energy solutions, facilities engineering, HVAC &
mechanical, landscape & turf, mission critical solutions and
parking, provided through stand-alone or integrated solutions. ABM
provides custom facility solutions in urban, suburban and rural
areas to properties of all sizes - from schools and commercial
buildings to hospitals, data centers, manufacturing plants and
airports. ABM Industries Incorporated, which operates through its
subsidiaries, was founded in 1909. For more information, visit
www.abm.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170621005417/en/
ABMMedia:Alex Varjan(212)
297-9737alex.varjan@abm.comorInvestor & Media
Relations:Susie Choi(212) 297-9721susie.choi@abm.com
ABM Industries (NYSE:ABM)
Historical Stock Chart
From Mar 2024 to Apr 2024
ABM Industries (NYSE:ABM)
Historical Stock Chart
From Apr 2023 to Apr 2024