HOUSTON, June 1, 2021 / PRNewswire / – Orbital Energy Group, Inc. (NASDAQ: OEG) (âOEGâ) announced today that its recently acquired subsidiary, Gibson Technical Services (âGTSâ), has been awarded a project to approximately 700 miles of engineering and turnkey construction services across Mississippi Center (the “Project”) to be carried out over the next four years for TEC from Jackson, Inc., dba: TEC (“TEC”).
GTS started the first engineering phase of the project in April 2021 Construction is expected to begin in June 2021. The project is funded by both private equity from TEC and the federal government’s Rural Digital Opportunity Fund (âRDOFâ) for rural fiber construction.
RDOF is an extension of the Federal Communication Commission (âFCCâ) Connect America Fund (âCAFâ) and will provide $ 20.4 billion in funding over ten years to support broadband networks in rural communities across the country. This partnership between TEC and GTS creates one of the first RDOF rural constructions to start in United States.
As the CEO of GTS explained, Mike McCracken, âThe award of this project to such a respected telecommunications service provider as TEC confirms GTS’s ability to provide the highest quality engineering and construction services. I am proud of the entire GTS group for the teamwork demonstrated in securing this project. looking forward to providing the world class service, reliability, engineering and unique solutions that have become GTS hallmarks. “
Vice-President and Chief Executive Officer of OEG, Jim o’neil, added, âThe award for this milestone project of this customer caliber is a testament to GTS, Mike and his entire team, along with their experience and ability to provide TEC with a full service solution for complete this fiber construction. The project further underscores GTS’s capabilities and the value created by our recent acquisition. “
âHaving been a leader in the telecommunications industry for almost a century,â said Lisa wigington, vice president of strategic operations. âTEC is committed to providing our customers with not only a reliable product, but also superior service and exceptional support. This partnership with GTS continues this tradition and we look forward to the successful and early completion of this exciting project.
TEC provides economic stability to its local service areas, employing over 200 people across Alabama, Mississippi, Tennessee, Georgia, and Louisiana. Currently, TEC has invested in and maintains approximately 1,400 miles of fiber in its rural markets. For nearly a century, TEC has been a pioneer in providing telecommunications services to rural America and pioneered Internet options in many rural markets over 20 years ago. For more information, visit www.TEC.com or social media @TECconnects.
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 (âEPCâ) 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. These 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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SOURCE Orbital Energy Group, Inc.