EQM Technologies & Energy, Inc. (OTCQB: EQTE) (“EQM”), a leading provider of environmental services to government and commercial businesses, today announced that the U.S. Environmental Protection Agency (the “EPA”) has awarded it a multi-year contract to provide Emergency and Rapid Response Services (“ERRS”) in the EPA’s Region 10, which covers the states of Oregon, Washington, Idaho and Alaska.
This contract is a 7 year blanket-order contract, which is designed to support numerous individual ERRS projects within Region 10 over the term of the contract. The maximum potential revenue that EQM could earn under this contract is approximately $50 million; however, there is no assurance as to EQM’s ability to realize the maximum amount of this contract. This contract replaces EQM’s previous ERRS Region 10 contract, which expired on January 31, 2013, and under which EQM realized its maximum potential revenue. Including this most recent contract, in the last 18 months EQM has been awarded EPA contracts with maximum potential revenue totaling over $300 million.
“We are pleased to continue working with the EPA in this Region and providing them with quality emergency response, environmental remediation, and construction services,” said Jim Wendle, President and Chief Operating Officer of EQM. “This agreement reaffirms the EPA’s recognition of EQM as a strong and reliable partner. Also, we believe that this award brings value to our shareholders as we have the opportunity to continue our pipeline of business with the EPA in Region 10 for the next seven years.”
