HOUSTON, July 20, 2021 /PRNewswire/ -- Orbital Energy
Group, Inc. (NASDAQ: OEG) ("OEG") today announced that its
subsidiary, Gibson Technical Services ("GTS"), has been awarded a
project (the "Project") from Charter Communications, Inc.
(NASDAQ:CHTR) ("Charter") for approximately 8,600-miles of
"full-service construction" across three U.S. states: Louisiana, Alabama, and North
Carolina.
The Project is part of the Federal Government's Rural Digital
Opportunity Fund ("RDOF") for rural fiber buildouts. The RDOF
extends the Federal Communication Commission's ("FCC") Connect
America Fund ("CAF") and will provide $20.4
billion in funding over a ten-year period to support
broadband networks in rural communities across the country.
The Project is scheduled to begin immediately and extend over
the next 5-6 years.
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. Charter's RDOF buildout
represents a $5 billion investment,
offset by $1.2 billion in support won
in the RDOF auction, which will deliver gigabit broadband access to
an FCC-estimated more than 1 million customer locations.
Mike McCracken, GTS's chief
executive officer, commented, "We are grateful for the confidence
that Charter has shown in our abilities and look forward to
continuing our long-standing working relationship. GTS is committed
to helping its customers improve their delivery infrastructures,
and these broadband services will provide a reliable,
cost-effective expansion to this client's already extensive
network. Our track record of execution on projects such as this has
enabled us to expand our current base of customers, maintain
long-standing relationships through repeat business, and garner
relationships with iconic clients such as Charter
Communications."
OEG Vice-Chairman & CEO, Jim
O'Neil, added, "We believe this is a transformative project
for GTS and supports OEG's ongoing strategy of providing industry
leading engineering and design solutions to the telecom industry
valued by our customers. GTS's technical and operational expertise
and customer service excellence has provided Charter Communications
with a full-service solution to construct their RDOF program in the
states we were awarded. We appreciate the opportunity that
Charter has provided to OEG and GTS and are committed to
successfully building out this world-class 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.