California High-Speed Rail Authority Selects Atlas and Its JV Partners for $400 Million Program Management Contract
03 January 2023 - 11:00PM
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
ConsultantsHeadquartered 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 StatementsThe
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.
Contacts:
MediaKarlene
Barron770-314-5270karlene.barron@oneatlas.com
Investor Relations Chase
Jacobson, Vallum Advisors512-851-1507ir@oneatlas.com
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