Montrose Environmental Group Supports Transformation of Indigenous Land in Alaska
Rhea-AI Summary
Montrose Environmental Group (NYSE: MEG) has been supporting Alaska Native Corporations (ANCs) in their efforts to revitalize contaminated lands. The company has assisted ANCs in securing and implementing $8 million of EPA Brownfield and Contaminated ANCSA Land Grants throughout 2023 and 2024. These grants aim to address legacy contamination issues on lands transferred to ANCs under the Alaska Native Claims Settlement Act of 1971.
Montrose's work involves leveraging its suite of services, including consulting, engineering, lab testing, and innovative technologies. A key project included helping Cook Inlet Region, Inc. and Tyonek Native secure a $3 million EPA grant for the restoration of the Iniskin Peninsula. The project aims to restore impacted areas for cultural, subsistence, and recreational use, while also developing reuse plans for renewable energy, resource extraction, and tourism.
Positive
- Secured and implemented $8 million in EPA grants for ANCs
- Assisted in obtaining a $3 million EPA grant for the Iniskin Peninsula restoration project
- Leveraging innovative technologies for site investigation and remediation
- Expanding services to support new $2 billion EPA grant program
Negative
- None.
News Market Reaction
On the day this news was published, MEG declined 2.82%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Alaska Native Claims Settlement Act (ANCSA) of 1971 included the transfer of 44 million acres of land to twelve regions and over 200 village ANCs. Some of these areas have been contaminated due to past activities like fuel storage, power generation, natural resource extraction, and were Formerly Used Defense Sites (FUDs). Currently, 1,278 sites are listed in the Contaminated ANCSA Lands Inventory, showing documented or potential contamination. In 2023, the United States Congress appropriated
Montrose has partnered with ANCs to help navigate the grant application and implementation process, securing and effectively utilizing funding to support assessment and cleanup solutions. Throughout 2023 and 2024, Montrose assisted ANCs with securing and/or implementing
- Leveraging Montrose's suite of services, including consulting and engineering, lab testing, treatment technologies and emergency preparedness; and
- Innovative "Conventional and Advanced Site Investigation and Remediation" (CASIR) technologies.
"Our work with Native and Indigenous communities is core to our values at Montrose," said Vijay Manthripragada, president and chief executive officer of Montrose Environmental Group. "We assisted our clients with delivering critical funding to their communities to address environmental issues. This will simultaneously restore tribal lands while providing new jobs, quality affordable housing and enhanced infrastructure and community services. Our work leveraged CASIR technologies to deliver transformative results in vulnerable communities."
A key project included assisting Cook Inlet Region, Inc. (CIRI), and Tyonek Native Corporation, Inc. (TNC) with a successful grant application for
Key outcomes of the project include:
- Restoration of impacted areas for enhanced cultural, subsistence and recreational use;
- Reuse plans that include renewable energy, resource extraction and travel and tourism; and
- Economic benefits for Alaska Natives and the regional economy.
Montrose continues to support ANCs with grant opportunities and the implementation of funding to revitalize brownfields and communities, including securing funding from EPA's new
About Montrose
Montrose is a leading environmental solutions company focused on supporting commercial and government organizations as they deal with the challenges of today and prepare for what's coming tomorrow. With ~3400 employees across 100+ locations worldwide, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling Montrose to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit www.montrose-env.com.
Forward‐Looking Statements
This press release 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. Forward-looking statements may be identified by the use of words such as "intend," "expect", and "may", and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Contacts
Montrose
Investor Relations:
Adrianne Griffin
(949) 988-3383
ir@montrose-env.com
Media Relations:
Sarah Kaiser
(225) 955-1702
pr@montrose-env.com
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SOURCE Montrose Environmental Group, Inc.
FAQ
What is Montrose Environmental Group's role in supporting Alaska Native Corporations?
How much funding has Montrose helped secure for Alaska Native Corporations?
What specific project did Montrose assist with for Cook Inlet Region, Inc. and Tyonek Native ?
What are the key outcomes of the Iniskin Peninsula restoration project supported by Montrose (NYSE: MEG)?
