HOUSTON, September 20, 2021 / PRNewswire / – Orbital Energy Group, Inc. (NASDAQ: OEG) (“OEG”) announced today that its subsidiary, Gibson Technical Services (“GTS”), has been awarded a new project (the “ Project ”) by Charter Communications, Inc. (NASDAQ: CHTR) (“ Charter ”) to build 1,910 miles of rural broadband network in Virginia.
New Virginia The project follows the company’s earlier award by Charter for approximately 8,600 miles of “full-service construction” across Louisiana, Alabama, and North Carolina. The project is expected to start immediately and expand over the next few years.
The project is part of the Virginia Telecommunication Initiative (VATI), a program similar to the federal government’s Rural Digital Opportunity Fund (“RDOF”) for rural fiber construction. According to its website, the Commonwealth of Virginia recognize, “[t]he digital divide – the lack of universal broadband coverage – is not just a technological problem; it is an essential infrastructure for modern community and economic development …[it] promotes sustainability and growth of communities by providing access to healthcare… provides increased educational opportunities… and encourages an entrepreneurial economy where new and existing home businesses and small businesses are able to compete on a global scale… .. Broadband is a necessity in the twenty-first century economy.
Charter is a leading broadband connectivity company and cable operator serving more than 31 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the company offers a full range of state-of-the-art residential and commercial services, including Spectrum Internet.®, TV, Mobile and Voice.
Mike McCracken, Managing Director of GTS, commented: “This new award from Charter demonstrates their continued confidence in our expertise and capabilities. It also illustrates GTS’s ability to support the development of RDOF-type programs and related projects, which we plan to continue in 2022 and beyond. . GTS remains committed to helping Charter and other customers improve their broadband delivery infrastructure. Our proven track record on projects such as this recent award has allowed us to expand our current client base and strengthen our long-standing relationships with iconic clients such as Charter Communication. “
Vice-President and Chief Executive Officer of OEG, Jim o’neil, added, “Our latest project award recognizes the success of OEG’s continued strategy to provide cutting-edge engineering and design solutions to the telecommunications industry that are valued by our customers. It also confirms our confidence in the substantial growth opportunity presented by our acquisition of GTS. We appreciate Charter’s continued trust in OEG and GTS and look forward to executing this new project for them as we build this world-class communications network. “
About Orbital Energy Group
Orbital Energy Group, Inc. (Nasdaq: OEG) creates a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy’s business group includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems.
Orbital Power Services provides engineering, construction, maintenance and emergency response solutions to the electricity, utility and intermediary markets.
Orbital Solar Services provides engineering, procurement and construction (“EPC”) expertise in the renewable energy sector and has established relationships with solar developers and panel manufacturers in the large-scale solar market.
Orbital Telecom Services, operating as Gibson Technical Services, has nationwide sites equipped to effectively support multi-vendor OEM technology environments and off-site facility construction operations as needed with services specializing in broadband, wireless, outdoor facility and building technologies, including healthcare.
Orbital Gas Systems has been a leader for 30 years in innovative gas solutions, serving the energy, electricity and processing markets through the design, installation and commissioning of sampling systems, measurement and distribution of industrial gases.
As a publicly traded company, Orbital Energy is dedicated to maximizing shareholder value. Most importantly, our commitment to conducting our business with a high level of integrity, respect and philanthropic dedication enables the organization to make a difference in the lives of its customers, employees, investors and the global community.
For more information, please visit: www.orbitalenergygroup.com
Important Cautions Regarding Forward-Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in its future operating results due to a number of economic, competitive and other factors, including, but not limited to, our dependence on third party manufacturers and suppliers, constraints budget and policies of government agencies, new or increased competition. , changes in market demand and the performance or reliability of our products. These and other factors could cause operating results to vary significantly from those of previous periods and those projected in forward-looking statements. Additional information regarding these and other factors, which could materially affect the Company and its operations, is included in certain forms that the Company has filed with the Securities and Exchange Commission.
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