SOURCE: TRC Companies, Inc.
LOWELL, MA--(Marketwire - Aug 1, 2012) - TRC Companies, Inc. (NYSE: TRR) today announced that it has been awarded a multi-year contract to deliver program management services for Efficiency Maine's Multifamily Efficiency Program. The initiative aims to reduce energy consumption by 20 percent by providing comprehensive retrofit services to 1,800 apartment units across the state.
"TRC is proud to support Efficiency Maine in their efforts to reduce energy consumption in multifamily housing units," said Chris Vincze, Chairman and Chief Executive Officer. "This initiative will not only help building owners and tenants save money and improve the comfort of their homes, but the project also has tremendous benefits for the environment and local economy. Our experts are committed to Efficiency Maine's success in achieving these benefits for communities across Maine."
The Multifamily Efficiency program will target small to medium buildings with 5-20 apartment units. Buildings selected to participate will be benchmarked and audited by approved Program Partners. Building owners will receive recommendations for specific efficiency projects to implement as well as rebates that offset a portion of the installation costs. Efficiency Maine will also coordinate with Maine lenders to provide additional financing assistance to support project completion.
"In awarding this contract to TRC, we can assure our customers that they will receive the best advice on how to update their multi-unit housing so that energy efficiency delivered for dollars spent is optimized," said Rick Meinking of Efficiency Maine. "Reducing energy consumption and waste are our goals, and consumers who participate in energy efficiency programs provide long-term economic benefits to the community."
As manager of the Multifamily Efficiency Program, TRC will conduct final program design and implementation activities including development of program documents; management of application process; development, management and training of Program Partner network staff conducting energy audits and project financial analyses; ensure quality control; and generally oversee the program's success.
TRC manages similar multifamily programs in New York for the New York State Energy Research and Development Authority and for the New Hampshire Housing Finance Authority.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the energy, environmental and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow us on Twitter at @TRC_Companies and on LinkedIn.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the availability and adequacy of insurance; the uncertainty of our operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2011, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.