HOUSTON, Sept. 20, 2021 /PRNewswire/ -- Orbital
Energy Group, Inc. (NASDAQ: OEG) ("OEG") today announced that its
subsidiary, Gibson Technical Services ("GTS"), has been awarded a
new project (the "Project") from Charter Communications, Inc.
(NASDAQ:CHTR) ("Charter") to construct 1,910 miles of rural
broadband network in Virginia.
The new Virginia project
follows the Company's earlier award from Charter for approximately
8,600-miles of "full-service construction" across Louisiana, Alabama, and North
Carolina. The Project is scheduled to begin immediately and
extend over the next several years.
The Project is part of the Virginia Telecommunication Initiative
(VATI), a similar program to the Federal Government's Rural Digital
Opportunity Fund ("RDOF") for rural fiber buildouts. According
to its website, the Commonwealth of Virginia recognizes, "[t]he digital divide –
the lack of universal broadband coverage – is not only a technology
issue; it is essential infrastructure for modern community and
economic development…[it] promotes sustainability and growth of
communities by providing access to health care….provides increased
educational opportunities…and encourages an entrepreneurial economy
where new and existing home-based and small businesses are able to
compete globally…..Broadband is a necessity in the twenty-first
century economy."
Charter is a leading broadband connectivity company and
cable operator serving more than 31 million customers in 41
states through its Spectrum brand. Over an advanced communications
network, the company offers a full range of state-of-the-art
residential and business services including Spectrum
Internet®, TV, Mobile and Voice.
Mike McCracken, GTS's chief
executive officer, commented, "This new award from Charter
demonstrates their continuing confidence in our expertise and
abilities. It also illustrates GTS's capacity to support the
buildout of RDOF type programs and related projects, which we
expect to continue into 2022 and beyond. GTS remains committed to
helping Charter and other customers improve their broadband
delivery infrastructure. Our proven track record on projects such
as this recent award has enabled us to expand our current customer
base and build on our long-standing relationships with iconic
clients such as Charter Communications."
OEG Vice-Chairman & CEO, Jim
O'Neil, added, "Our latest project award highlights the
success of OEG's ongoing strategy to provide industry leading
engineering and design solutions to the telecom industry that are
valued by our customers. It also confirms our confidence in the
substantial growth opportunity presented by our acquisition of
GTS. We appreciate Charter's continued confidence in OEG and
GTS and look forward to executing on this newest project for them
as we build out this top-notch communications network."
About Orbital Energy Group
Orbital Energy Group, Inc.
(Nasdaq: OEG) is creating a diversified energy services platform
through the acquisition and development of innovative companies.
Orbital Energy's group of businesses includes Orbital Power
Services, Orbital Solar Services, Orbital Telecom Services and
Orbital Gas Systems.
Orbital Power Services provides engineering, construction,
maintenance and emergency response solutions to the power,
utilities, and midstream markets.
Orbital Solar Services provides engineering, procurement, and
construction ("EPC") expertise in the renewable energy industry and
established relationships with solar developers and panel
manufacturers in the utility scale solar market.
Orbital Telecom Services, operating as Gibson Technical
Services, has nationwide locations equipped to effectively support
multi-vendor OEM technology environments and outside plant
construction operations on an as-needed basis with specialized
services in broadband, wireless, outside plant and building
technologies, including healthcare.
Orbital Gas Systems is a 30-year leader in innovative gas
solutions, serving the energy, power and processing markets through
the design, installation and commissioning of industrial gas
sampling, measurement, and delivery systems.
As a publicly traded company, Orbital Energy is dedicated to
maximizing shareholder value. But most important, our commitment to
conduct business with a high level of integrity, respect, and
philanthropic dedication allows the organization to make a
difference in the lives of their customers, employees, investors,
and global community.
For more information please
visit: www.orbitalenergygroup.com
Important Cautions Regarding Forward Looking
Statements
This document contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements are subject to risks and
uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The Company
may experience significant fluctuations in future operating results
due to a number of economic, competitive, and other factors,
including, among other things, our reliance on third-party
manufacturers and suppliers, government agency budgetary and
political constraints, new or increased competition, changes in
market demand, and the performance or reliability of our products.
These factors and others could cause operating results to vary
significantly from those in prior periods, and those projected in
forward-looking statements. Additional information regarding these
and other factors, which could materially affect the Company and
its operations, are included in certain forms the Company has filed
with the Securities and Exchange Commission.
OEG Investor Relations:
KCSA Strategic Communications
David Hanover
T: 212-896-1220
orbital@kcsa.com
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SOURCE Orbital Energy Group, Inc.