Oklahoma City-based Mammoth Energy Services, Inc. announced that its wholly owned subsidiary, 5 Star Electric, LLC (“5 Star”), has been awarded a street lighting upgrade contract by a major Midwest investor owned utility. The five-year contract is expected to generate up to approximately $30 million in revenue over the contract term.
“The signing of this agreement is significant for our infrastructure group as it adds up to $30 million of stable contracted projects to our backlog,” said Arty Straehla, Chief Executive Officer of Mammoth.
He said the contract is also important because if provides an entry for the company into the rapidly expanding buildout of Smart Grids.
“Given the recent change of administration and the extension of the solar and electric vehicle tax credits, we have seen a significant increase in solar, wind and civil infrastructure bidding opportunities since the beginning of the year,” added Straehla. “When coupled with our other infrastructure businesses, including engineering, we continue to make progress towards being a fully integrated Engineering, Procurement and Construction “EPC” company.”
The announcement did not identify the Midwest investor owned utility that awarded the contract.
Source: press release