Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
INDIANAPOLIS, Nov. 16, 2020 (GLOBE NEWSWIRE) — 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 that the Company has formed a new Renewable Energy Services Group to expand on its portfolio of renewable construction services by offering technical maintenance and repair after construction. This group will serve as the next phase in the Company’s relationship with wind project owners, developers and OEMs.
IEA’s new Renewable Energy Services Group expands upon the Company’s technical capabilities, field expertise, processes and tooling. Through these expanded service offerings, IEA will help its customers lower their operational costs, while still ensuring that they receive the highest quality of service and safety standards. As part of this new offering, IEA will provide extended services to wind customers, which include blade repairs, major component change-outs, repowering, life extension projects and other value-added specialized services.
“Currently when a wind project is complete, infrastructure maintenance is often left to project developers and owners,” said Chris Hanson, Executive Vice President of IEA. “With the creation of our Renewable Energy Services Group, we will now have the opportunity to extend the relationship with our customers and provide comprehensive services throughout the lifespan of the project.”
IEA has brought onboard a team of seasoned industry professionals from the renewable energy field that will spearhead the Renewable Energy Services Group. This team is led by Brant Patnode, Senior Vice President, Paul Idziak, Vice President of Business Development, Franco Repetto, Vice President of Commercial Operations, Keith Wharton, Vice President of Operations and Forrest Hach, Director of Field Operations. For additional information on the Renewable Energy Services Group please visit: iea.net.
“I have worked with IEA for over a decade in the wind energy industry and have always been impressed with the quality of work they provide,” said Brant Patnode, Head of IEA’s Renewable Energy Services Group. “It is a privilege to build an industry-leading team with an organization that shares the same values for safety, quality, innovation and customer service that have guided me throughout my career.”
To date, IEA has constructed more than 2 gigawatts of wind energy across North America. The Company was recently ranked #2 for wind construction amongst Engineering News-Record’s (ENR) 2020 Top 400 Contractors. For more information on ENR rankings, please visit enr.com.
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 http://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 and in its quarterly reports on Form 10-Q. 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.
|ADDO Investor Relations|
Source: Infrastructure and Energy Alternatives, Inc.