GTS Reaches Agreement with TEC on 700-mile Engineering and Construction Project in Mississippi
Orbital Energy Group, Inc. (NASDAQ: OEG) (“OEG”) today announced that its recently acquired subsidiary, Gibson Technical Services (“GTS”), has been awarded a project for approximately 700-miles of engineering and construction turnkey services across Central Mississippi (the “Project”) to be completed over the next four years for TEC of Jackson, Inc., dba: TEC (“TEC”).
GTS began the first engineering phase of the Project in April 2021 with construction slated to start in June 2021. The Project is being funded with both private TEC capital and from the Federal Government’s Rural Digital Opportunity Fund (“RDOF”) for rural fiber buildouts.
The RDOF extends the Federal Communication Commission’s (“FCC”) Connect America Fund (“CAF”) and will provide $20.4 billion in funding over a 10-year period to support broadband networks in rural communities across the country. This partnership between TEC and GTS creates one of the first RDOF rural builds to be started in the United States.
As explained by GTS’s chief executive officer, Mike McCracken, “The award of this project from such a well-respected telecommunication service provider as TEC confirms GTS’s ability to deliver the highest quality engineering and construction services. I am proud of the entire GTS group for the teamwork demonstrated in securing this project. We look forward to providing the world class service, dependability, engineering, and unique solutions that have become the hallmarks of GTS.”
OEG Vice-Chairman & CEO, Jim O’Neil, added, “The award of this milestone project from this caliber of customer is a testament to GTS, Mike, and his entire team, and their experience and capability to provide TEC with a full-service solution to complete this fiber buildout. The project further underscores GTS’s capabilities and the value created by our recent acquisition.”
“Having been a leader in the telecommunications industry for almost a century,” said Lisa Wigington, Vice President of Strategic Operations. “TEC is committed to providing its customers not just a reliable product, but superior service and outstanding support. This partnership with GTS continues that tradition and we look forward to the successful and timely completion of this exciting project.”