United Utilities Selects Tetra Tech for £100 Million Framework to Improve Water Quality in the United Kingdom

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has been selected by United Utilities for a £100 million single-award framework to improve river health in the North West of England. The 10-year framework will involve Tetra Tech engineers and scientists driving program optimization and developing solutions based on best value, lowest carbon, and cost. Tetra Tech's Chairman and CEO, Dan Batrack, expressed excitement in continuing to provide high-end modeling, technical, and operational services to United Utilities.

Environmental Consultant

Tetra Tech's recent £100 million framework agreement with United Utilities signifies a substantial commitment to environmental sustainability and infrastructure improvement. This collaboration is expected to have a positive impact on Tetra Tech's long-term revenue streams, given the decade-long span of the project. As an environmental consultant, it's evident that Tetra Tech's expertise in low-carbon solutions will be pivotal in meeting the UK's stringent environmental regulations and carbon reduction targets. The company's history of providing high-end services to United Utilities suggests a proven track record, which could potentially lead to further contracts within the sector. The focus on river health aligns with global environmental trends, increasing the potential for replication of such projects in other regions, which could further bolster Tetra Tech's market position.

Market Analyst

From a market perspective, the announcement of this framework is likely to be viewed favorably by investors and stakeholders. The size of the contract (£100 million) and the long-term nature (10 years) provide a level of financial predictability and stability to Tetra Tech's future earnings. This could enhance investor confidence and possibly influence the company's stock valuation positively. However, it is crucial to monitor the execution of the project over time, as delays or cost overruns could impact projected earnings. Moreover, the emphasis on 'best value, lowest carbon and cost' suggests a competitive edge in the market, as clients increasingly prioritize sustainability alongside cost-efficiency in their procurement decisions.

Sustainability Analyst

The commitment to improving river health in the North West of England through innovative technical solutions reflects a growing trend in the engineering and consulting industry towards sustainability and environmental stewardship. As a sustainability analyst, it is important to recognize that Tetra Tech's Leading with Science® approach could serve as a benchmark for industry best practices in sustainable infrastructure development. The project's potential to contribute to the broader societal goal of a greener and healthier environment can also enhance Tetra Tech's corporate image and brand equity. In the longer term, such initiatives could lead to regulatory incentives and a stronger competitive position for companies that are early adopters of sustainable practices.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that United Utilities, one of the United Kingdom’s largest listed water companies, selected Tetra Tech for a £100 million single-award framework to support the improvement of river health across the North West of England.

Under this 10-year framework, Tetra Tech engineers and scientists will drive program optimization, develop solutions and select the preferred options based on best value, lowest carbon and cost.

"Our RPS operations in England have provided United Utilities with high-end modeling, technical, operational, and critical infrastructure services for two decades," said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to continuing to use our Leading with Science^® approach and global water expertise to provide innovative technical solutions that promote a stronger, greener, and healthier North West of England.”

About Tetra Tech

Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With 27,000 employees working together, Tetra Tech provides clear solutions to complex problems by Leading with Science^® to address the entire water cycle, protect and restore the environment, design sustainable and resilient infrastructure, and support the clean energy transition. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn and Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240129237530/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

What is the ticker symbol of Tetra Tech, Inc.?

The ticker symbol of Tetra Tech, Inc. is TTEK.

What is the value of the single-award framework with United Utilities?

The single-award framework with United Utilities is valued at £100 million.

What is the duration of the framework?

The framework is set to last for 10 years.

What services will Tetra Tech provide under the framework?

Tetra Tech engineers and scientists will drive program optimization, develop solutions, and select preferred options based on best value, lowest carbon, and cost.

Who expressed excitement about the partnership with United Utilities?

Dan Batrack, the Chairman and CEO of Tetra Tech, expressed excitement about continuing to provide services to United Utilities.

What is the focus of Tetra Tech's approach in providing technical solutions?

Tetra Tech's approach focuses on using their Leading with Science® approach and global water expertise to provide innovative technical solutions promoting a stronger, greener, and healthier North West of England.