Infrastructure & Energy Alternatives and LOGISTEC USA Announce Strategic Alliance to Provide Turnkey Solutions for U.S. Offshore Wind Industry
January 25 2022 - 9:00AM
Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA, “IEA” or
the “Company”) a leading infrastructure company with renewable
energy and specialty civil expertise, today announced a new
strategic alliance with LOGISTEC USA Inc., a subsidiary of LOGISTEC
Corporation (TSX: LGT.A, LGT.B) (“LOGISTEC”), a cargo handling and
marine services provider with 25 port locations within the United
States.
IEA intends to leverage its proven engineering,
procurement, and construction (“EPC”) solutions with LOGISTEC’s
cargo handling capabilities in support of new utility-scale
offshore wind developments along the U.S. east coast. Both
companies believe this non-exclusive business alliance will result
in improved economies of scale and supply chain efficiencies over
the long-term.
In 2021, the United States Departments of
Interior (DOI), Energy (DOE), and Commerce (DOC) announced a shared
goal to deploy 30 gigawatts (GW) of offshore wind power in the
United States by 2030. These capacity additions are expected to
generate sufficient power to support more than 10 million American
homes annually, while eliminating approximately 78 million metric
tons of CO2 emissions.
As one of the largest utility scale wind
engineering and construction firms in the U.S., IEA will utilize
its logistics expertise to capitalize on the planned, multi-year
investment in offshore capacity additions, leveraging LOGISTEC’s
experience as a leader in the handling of specialized wind
components.
“As a leading EPC company serving the domestic
onshore wind industry, IEA is uniquely positioned to capitalize on
a long-term trend toward increased investment in offshore wind
development,” stated JP Roehm, CEO of IEA. “We believe this
alliance will allow for improved logistics, supply chain, and
material handling capability along the East Coast corridor where
LOGISTEC has a significant geographic presence, one well-suited to
service planned offshore wind developments in the region.”
“This unique partnership between IEA and LOGISTEC will provide
customers with a truly integrated service for the burgeoning
offshore wind market,” explained Rodney Corrigan, President of
LOGISTEC USA Inc. “IEA’s renowned suite of specialized
services in the renewable energy sector paired with our field
proven wind handling expertise will bring clean energy to
communities in support of a sustainable future for generations to
come.”
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 240 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.
ABOUT LOGISTEC CORPORATION
LOGISTEC Corporation is based in Montréal (QC)
and provides specialized services to the marine community and
industrial companies in the areas of bulk, break-bulk and container
cargo handling in 54 ports and 80 terminals located in North
America. LOGISTEC also offers marine transportation services geared
primarily to the Arctic coastal trade as well as marine agency
services to foreign shipowners and operators serving the Canadian
market. Furthermore, the company operates in the environmental
industry where it provides services to industrial, municipal and
other governmental customers for the renewal of underground water
mains, site remediation, dredging and dewatering, soils and
materials management, risk assessment, and manufacturing of woven
hoses.
INVESTOR CONTACT
Aaron Reddington, CFAinvestors@iea.net
For further information - LOGISTEC:
Marie-Chantal SavoyVice-President, Strategy and
CommunicationsLOGISTEC CorporationPhone: (514)
985-2337msavoy@logistec.com
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