EQM Technologies & Energy, Inc. Announces Renewal of Key Contract
February 05 2013 - 4:35PM
Business Wire
EQM Technologies & Energy, Inc. (OTCQB: EQTE) (“EQM”), a
leading provider of environmental services to government and
commercial businesses, today announced that the U.S. Environmental
Protection Agency (the “EPA”) has awarded it a multi-year contract
to provide Emergency and Rapid Response Services (“ERRS”) in the
EPA’s Region 10, which covers the states of Oregon, Washington,
Idaho and Alaska.
This contract is a 7 year blanket-order contract, which is
designed to support numerous individual ERRS projects within Region
10 over the term of the contract. The maximum potential revenue
that EQM could earn under this contract is approximately $50
million; however, there is no assurance as to EQM’s ability to
realize the maximum amount of this contract. This contract replaces
EQM’s previous ERRS Region 10 contract, which expired on January
31, 2013, and under which EQM realized its maximum potential
revenue. Including this most recent contract, in the last 18 months
EQM has been awarded EPA contracts with maximum potential revenue
totaling over $300 million.
“We are pleased to continue working with the EPA in this Region
and providing them with quality emergency response, environmental
remediation, and construction services,” said Jim Wendle, President
and Chief Operating Officer of EQM. “This agreement reaffirms the
EPA’s recognition of EQM as a strong and reliable partner. Also, we
believe that this award brings value to our shareholders as we have
the opportunity to continue our pipeline of business with the EPA
in Region 10 for the next seven years.”
EQM Technologies & Energy, Inc.
EQM, based in Cincinnati, OH, is a leading provider of
environmental services - consulting & engineering, clean
technology, and remediation & construction management - to the
public and industrial sectors, with approximately 220 employees and
satellite offices and operations in 11 states. EQM has longstanding
relationships and multi-year contracts with numerous federal
agencies, including the Environmental Protection Agency and the
Department of Defense (including the Air Force Center for
Engineering & Environment, Naval Facilities Engineering
Command, and the Army Corps of Engineers), as well as private
sector clients across numerous industries. For more information,
please visit www.eqm.com.
Statements in this press release regarding EQM’s business that
are not historical facts are “forward-looking statements” that
involve risks and uncertainties. EQM wishes to caution readers not
to place undue reliance on such forward-looking statements, which
speak only as of the date made. To the extent the content of this
press release includes forward-looking statements; they involve
various risks and uncertainties, including the successful
integration of acquired businesses, projected financial information
and the continued successful implementation of EQM’s business
strategy.
Certain of these risks and uncertainties are described in
greater detail in EQM’s filings with the Securities and Exchange
Commission. EQM is under no obligation to (and expressly disclaims
any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or
otherwise.
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