Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced securing an $11 million design-build contract with Reed College. This contract, which involves the comprehensive mechanical, electrical, and seismic upgrade of the college's boiler plant, marks another significant milestone in the long-standing relationship between Ameresco and Reed College and a step in the master plan to fully decarbonize the campus.
This critical project is in addition to an existing $2.3 million contract for the design and procurement of infrastructure for the upgrade. In addition, Ameresco is currently implementing a $1.8 million lighting upgrade project across the campus. These combined efforts bring the total value of work in progress with Reed College to over $15 million, showcasing Ameresco's commitment to enhancing the campus infrastructure and sustainability.
The comprehensive upgrades aim to improve energy efficiency, reduce environmental impact, and provide long-term benefits to the college community. Reed College continues to prioritize projects that align with its institutional goals and environmental stewardship.
"We are thrilled to continue our partnership with Reed College and support their commitment to sustainability and energy efficiency," said Lou Maltezos, President of Central & Western USA, Canada Regions at Ameresco. "Our comprehensive energy solutions are designed to meet the unique needs of the college and enhance the learning environments on their campus."
Reed College's collaboration with Ameresco dates back to a $5.4 million campus-wide efficiency project completed a decade ago. This project included various mechanical, controls, lighting, and plumbing system retrofits and replacements throughout the urban campus in southeast Portland, OR. It significantly improved comfort and visibility while providing substantial energy savings. Not only did this initial project reduce emissions, but it also saved over $250,000 in annual energy costs.
“The central plant upgrade will not only deliver additional cost savings but also enhance energy efficiency and infrastructure, marking a significant milestone in our commitment to sustainable campus energy management," said Steve Yeadon, Executive Director of Facilities Operations at Reed College. "These improvements reflect our dedication to creating a more sustainable and efficient campus environment and reduce our impact on greenhouse gases.”
As Ameresco and Reed College continue to work together, the focus remains on delivering innovative energy solutions that not only benefit the college but also contribute to their broader sustainability goals. This partnership aims to reduce the college’s energy use and maximize equipment life, exemplifying the commitment to creating a more efficient future for all.