Week of June 21, 2024
EFCG just wrapped up its annual Technology Leadership Conference, held on June 10-12 at the Microsoft Technology Center in Chicago, Illinois. We welcomed close to 100 technology leaders from across the AEC industry, with 43 first-time participants and 76 firms represented.
The conference kicked off with EFCG Managing Partner, Rebecca Zofnass, delivering EFCG's signature AEC Industry Overview, followed by a Technology State of the Industry presented by EFCG Partner of Technology & Innovation, Marcus Quigley. Attendees also heard from firm tech leaders during panel sessions focused on topics such as Technology Trends & AI, Foundational and Applied Technology, SaaS and Tech Spin-Outs, and ESG for Technology and Sustainability.
EFCG would like to thank everyone who attended this year's Technology Leadership Conference and to our sponsorship partners – BST Global, Deltek, Microsoft, Transearch, and HSO -- for their continued partnership!
For more information on EFCG conferences, click the button below or email Kim Thieme at kthieme@efcg.com.
U.S. DOT Announces $196M in Grants for Natural Gas Pipeline Upgrades
The U.S. Department of Transportation is offering $196 million in grants for repairing and upgrading natural gas pipelines as part of the Infrastructure Investment and Jobs Act.
These grants aim to address corroded and outdated pipelines, some over a century old, and reduce methane leakage.
The program targets municipal or community-owned utilities, excluding for-profit organizations, with a focus on high-risk, leak-prone infrastructure.
Applications for the grants, ranging from $10,000 to $125M, are due by June 20, 2024, with the total program providing $1 billion over five years.
U.S. Trade Barriers on China Risk Delaying U.S. Renewable Energy Goals
The Biden administration is increasing trade barriers on Chinese clean-energy imports, such as batteries and solar panel parts, to support U.S. domestic industries. This move, however, complicates efforts to expand renewable energy infrastructure, a key priority for Biden.
These trade restrictions are part of Biden's strategy to protect American jobs and industries amid rising political tensions with China, yet, they pose challenges to the clean energy sector, which heavily relies on Chinese-made components.
The restrictions could delay renewable energy projects and increase costs due to the disrupted supply chain for essential materials and technologies. This potential slowdown in the green transition conflicts with Biden's climate goals.
Balancing economic protectionism with environmental priorities highlights a significant policy tension. As the U.S. seeks to reduce carbon emissions, the dependence on imported green technology presents a critical challenge for the administration.
June 17, 2024
Qualus Corporation (Qualus), a leading pure-play power services firm backed by New Mountain Capital, LLC (New Mountain) and innovator at the forefront of the energy transition, announced the acquisition of ASSET Engineering (ASSET), a Mississippi-based differentiated power engineering and consulting firm with extensive experience in renewable generation development, battery energy storage systems, microgrids and distributed energy resources that support data centers and other critical infrastructure facilities. ASSET’s expertise is complementary to Qualus’ comprehensive resources in these areas.
EFCG served as the financial advisor to Qualus on the transaction. Congratulations to the Qualus and ASSET management teams, shareholders, and employees on the successful transaction.
June 17, 2024
The Ortec Group (Ortec), a France-based design, construction, and maintenance services firm, has acquired the soil and waste treatment activities of Englobe Corp. (Englobe), a Canada-based engineering, environmental science, and soil and biomass treatment services firm. The transaction strengthens Ortec's position in soil remediation in the European, African, and North American markets. Englobe's 320 employees will join Ortec's Global Services Division at transaction close, and the new entity will be known as Biogenie. Andre Einaudi, Chairman and CEO of the Ortec Group, commented, "The expertise and assets of Biogenie, combined with the know-how of Ortec-Soleo, will position the Ortec Group among the world leaders in soil remediation. This key activity is at the heart of the environmental transition and decarbonization, through the fight against land artificialization. We are delighted with this new step and welcome all Biogenie employees."
June 19, 2024
Salas O'Brien, a California-based engineering and technical services firm backed by Blackstone, has acquired Haag, a Texas-based forensic engineering and consulting firm serving the legal, insurance, private, manufacturing, and construction sectors. The acquisition strengthens Salas O'Brien's capabilities and portfolio and increases the combined team's ability to provide comprehensive, integrated, multi-discipline engineering and consulting services. Darin Anderson, Chairman and CEO of Salas O'Brien, commented, "In a world where building performance and resiliency matter more than ever, Haag brings a critical skill set to Salas O'Brien's service offerings. Haag is known as a standard bearer for forensic engineering, and we are excited to bring their expertise to our team and our clients. Our shared commitment to integrity and fostering team member growth ensures that together, we will continue to set new standards of excellence in the industry.
June 20, 2024
Atwell, LLC (Atwell), a Michigan-based consulting, engineering, and construction services firm, has acquired Hydro Consultants Inc. (Hydro), a Louisiana-based surveying, engineering, and mapping firm. The acquisition expands Atwell's presence in Louisiana and the Gulf Coast region, and bolsters their suite of services. Matthew Bissett, President of Atwell, commented, "Hydro Consultants is well known in its community, exemplifies the professionalism and quality we value at Atwell, and is committed to a client-centered approach. For all these reasons and more, we are excited to combine efforts with their team and expand our services in the Gulf Coast region."
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