California High-Speed Rail Authority Selects Atlas and Its JV Partners for $400 Million Program Management Contract
AUSTIN, Texas, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading Infrastructure and Environmental solutions provider, announced today that it is a member of the joint venture team that was selected to provide program delivery support for the California High-Speed Rail project. The joint venture, led by AECOM, includes Atlas, other partners and 26 small businesses, disadvantaged business enterprises, and disabled veteran business enterprise firms. The $400 million contract awarded by the California High Speed Rail Authority has a term of four years, with two, one-year extension options. Atlas will book approximately $65 million in fourth quarter 2022 backlog with work expected to begin immediately.
As part of the AECOM-led joint venture, Atlas will provide quality management for the California High-Speed Rail Project
Atlas to book approximately $65 million to backlog in fourth quarter 2022
AUSTIN, Texas, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading Infrastructure and Environmental solutions provider, announced today that it is a member of the joint venture team that was selected to provide program delivery support for the California High-Speed Rail project. The joint venture, led by AECOM, includes Atlas, other partners and 26 small businesses, disadvantaged business enterprises, and disabled veteran business enterprise firms. The $400 million contract awarded by the California High Speed Rail Authority has a term of four years, with two, one-year extension options. Atlas will book approximately $65 million in fourth quarter 2022 backlog with work expected to begin immediately.
“We are extremely proud to be part of the AECOM-led joint venture and look forward to implementing a best-in-class quality management system for the California High-Speed Rail project, which will help California lead the nation in building world-class infrastructure and combat climate change,” said L. Joe Boyer, Atlas’ Chief Executive Officer. “This win highlights the success we have had in expanding our technical capabilities and scale through acquisitions, enabling us to partner with our clients and communities nationally to transform the way mega-infrastructure projects are delivered.”
As part of the joint venture team, Atlas will develop and implement a quality management system that assures plans, processes, and actions of this world-class transportation program are executed in an interconnected, unified, and mutually beneficial manner while ensuring compliance with internal and external requirements.
The California High-Speed Rail project is the first of its kind in the United States. It will transform how people commute and travel, spur economic growth, and promote a cleaner environment by connecting NorCal to SoCal via reliable rail. There are currently 119 miles of rail line under construction and 52 miles under advanced design in the Central Valley with service expected to begin by the end of the decade. Through disciplined environmental initiatives that outline land preservation measures, recycling programs, and renewable energy investment, the project will ensure the protection of natural resources at every step; per year, California High-Speed Rail operations are projected to generate greenhouse gas emissions savings of roughly two million metric tons in carbon dioxide equivalent.
About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of Infrastructure and Environmental Solutions. We partner with our clients to improve performance and extend the lifecycle of built and natural infrastructure assets stressed by climate, health, and economic impacts. With 3,500+ employees nationwide, Atlas brings deep technical expertise to public- and private-sector clients, integrating services across four primary disciplines: Environmental (ENV); Testing, Inspection and Certification (TIC); Engineering & Design (E&D); and Program Management/Construction Management, and Quality Management (PCQM). To learn more about Atlas innovations for transportation, commercial, water, government, education, and industrial markets, visit https://www.oneatlas.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this press release in relation to Atlas has been provided by Atlas and its management team, and forward-looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us and are based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto; (2) the risk that our actual results may differ from the guidance we have provided; (3) the ability to recognize the anticipated benefits of our past acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (4) changes adversely affecting the business in which we are engaged; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.
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