Infrastructure and Energy Alternatives, Inc. Secures $17M Construction Project With California Department of Transportation
October 07 2020 - 9:00AM
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA”
or the “Company”), a leading infrastructure construction company
with renewable energy and specialty civil expertise, today
announced a $17 million construction award from the California
Department of Transportation (“Caltrans”). The contract was secured
by American Civil Constructors (“ACC”), a subsidiary of IEA that
provides heavy- and light-civil infrastructure services for state,
federal and commercial clients across the country.
This heavy-civil contract consists of the
rehabilitation of the Sacramento River Bridge, which crosses the
border of Yolo and Sacramento counties. ACC will self-perform the
majority of the project, including the demolition and construction
of a new barrier on both sides of the bridge, replacement of
portions of the bridge’s overlay with polyester concrete, and
construction of the bridge’s joints, seals and drainage systems.
Work on the project is expected to begin this November with an
anticipated completion date in September 2021.
For over two decades, Sacramento and West
Sacramento have researched ways to reduce the concentrated traffic
flow on their cities’ roads and bridges, while also continuing to
promote economic activity and access to jobs. The Sacramento River
Bridge is intended to improve mobility in the region.
“IEA is very pleased to support Caltrans in
their efforts to bring improved transportation infrastructure to
Sacramento,” said Brian Hummer, IEA’s Executive Vice President.
“ACC has constructed some of our nation’s most advanced bridges,
and the Sacramento River Bridge improvement is no different. We
look forward to lending our construction expertise to this
innovative transportation project.”
IEA was recently ranked 16th for mass transit
and rail and 38th for transportation amongst Engineering
News-Record’s 2020 Top 400 Contractors. For more information on the
rankings, please visit enr.com.
About IEA
Infrastructure and Energy Alternatives, Inc. is
a leading infrastructure construction company with renewable energy
and specialty civil expertise. Headquartered in Indianapolis,
Indiana, with operations throughout the country, IEA’s service
offering spans the entire construction process. The Company offers
a full spectrum of delivery models including full engineering,
procurement, and construction, turnkey, design-build, balance of
plant, and subcontracting services. IEA is one of the larger
providers in the renewable energy industry and has completed more
than 200 utility scale wind and solar projects across North
America. In the heavy-civil space, IEA offers a number of specialty
services including environmental remediation, industrial
maintenance, specialty transportation infrastructure and other site
development for public and private projects. For more information,
please visit IEA’s website at www.iea.net or follow IEA on
Facebook, LinkedIn and Twitter for the latest company news and
events.
Forward Looking Statements
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The use of words such as “anticipate,” “expect,” “could,”
“may,” “intend,” “plan” and “believe,” among others, generally
identify forward-looking statements. These forward-looking
statements are based on currently available operating, financial,
economic and other information, and are subject to a number of
risks and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual future events or results. A variety of
factors, many of which are beyond our control, could cause actual
future results or events to differ materially from those projected
in the forward-looking statements in this release. For a full
description of the risks and uncertainties which could cause actual
results to differ from our forward-looking statements, please refer
to IEA’s periodic filings with the Securities & Exchange
Commission including those described as “Risk Factors” in IEA’s
annual report on Form 10-K filed on March 12, 2020. IEA does not
undertake any obligation to update forward-looking statements
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Contact:
Kimberly EsterkinADDO Investor
Relationsiea@addoir.com310-829-5400
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