US Department of Energy Selects ABM for Energy Savings Performance Contract

Wednesday, June 21, 2017

ABM (NYSE: ABM), a leading provider of facility solutions, announces that the US Department of Energy (DOE) selected ABM Technical Solutions for placement on its Energy Savings Performance Contract (ESPC) Multi-Award Task Order Contract (MATOC).

Selection to the DOE ESPC allows ABM to compete for more than $750M of projects awarded through the contract each year. It is the largest Energy Services Company (ESCO) contract vehicle managed by the federal government and uses a rigorous selection process to pre-qualify a limited number of ESCOs. The selection further validates ABM's track record of helping federal agencies reduce costs through energy savings solutions by the Company's Technical Solutions group. ABM's Technical Solutions group is focused on creating financial solutions to meet clients' technical facility needs and sustainability goals. The goal is to drive costs out of a client's operating budget, allowing savings to be reallocated to fund mission critical facility needs.

"ABM is proud to have been selected for this important contract by the US Department of Energy," said Mark Newsome, SVP and President of ABM Technical Solutions. "With ABM's past experience in delivering performance contracting and energy solutions, we look forward to utilizing our placement on the ESPC contract to reach new federal agency clients."

ABM Technical Solutions has worked with a number of federal government-owned facilities including the US General Services Administration (GSA). ABM provides extensive energy and facility improvements to federal buildings throughout Southern California, including the Edward R. Roybal Federal Building in Los Angeles; the US Social Security Building in Huntington Park; the 300 North Los Angeles (NLA) Building; the Glenn M. Anderson Federal Building in Long Beach; and the Ronald Reagan Federal Building and US Courthouse in Santa Ana. In all, ABM's energy performance contracting program guarantees savings of at least $48.4 million in energy and operating costs over the next 20 years and will reduce the buildings' energy use by more than 40 percent.

"Our clients turn to us for innovative measures to meet their critical facility needs," said Ted O'Shea, Vice President, ABM Technical Solutions. "Over the past four years, we have provided energy saving solutions for the federal government's infrastructure that will generate more than $60 million in energy and operating savings over the performance period."

ESPC projects enable federal agencies to undertake energy savings initiatives without incurring up-front capital costs. ESCOs must have the capability to implement energy conservation measures that reduce energy and water consumption or costs, increase renewable energy use and/or may reduce energy and water-related operations and maintenance (O&M) costs. ESCOs are required to provide O&M costs and measurement and verification annually.

Established by the Federal Energy Management Program (FEMP), the US DOE ESPC was created in accordance with the Energy Policy Act of 1992 and 10 C.F.R. 436. The Qualified List of Energy Service Companies is composed of private industry firms that have submitted an application for evaluation by the Qualification Review Board. Appointed by the US Department of Energy, the Qualification Review Board assesses such applications on merits of past performance, ability to finance energy services contracts, actual energy savings of past projects, and other metrics.

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