ICF International Awarded Estimated US$3M in Federal Grants for Energy Work in China
ICF to Promote Green Buildings in China
Fairfax, Virginia, December 16, 2008 -
ICF Incorporated, LLC, a subsidiary of ICF International (NASDAQ:ICFI), announced today that it won two new federal grants to promote green and efficient buildings in China. The agreements were awarded by two different U.S. government agencies, the U.S. Agency for International Development’s (USAID) Regional Development Mission for Asia (RDMA) and the Department of State (DOS). The projects aim to reduce emissions of greenhouse gases by reducing energy use, and support China’s domestic strategy for reducing energy use by 20 percent by 2010. The combined value of the awards is US$2.97 million.
“ICF’s comprehensive knowledge of energy programs combined with our extensive network of public and private partners in China provides us with the capabilities needed to successfully implement these projects,” said David Hathaway, ICF Managing Director for China Operations and energy efficiency expert. “We are excited about working with these partners to help this country reach its energy reduction goals.”
The three-year USAID agreement began in October 2008 and is valued at US$2M. Under this agreement, ICF is managing an innovative public-private partnership program to promote green and energy efficient buildings in China. The tremendous surge in building construction over the past decade has led to large increases in energy use in this country. ICF will work with Chinese policymakers and key players in the property development and management sector to help address the new environmental challenges associated with this increase in energy usage.
The DOS grant started in September 2008 and is valued at US$975K. Under the two-year agreement, ICF is implementing a program to improve energy performance in existing buildings in China by demonstrating energy-efficient building operations. The program will operate in up to 10 cities across China, and its results will contribute to new energy policies for the country’s building sector. The grant was issued as part of U.S. participation in the Asia-Pacific Partnership on Clean Development and Climate (APP), an innovative public-private partnership that brings together seven countries—Australia, Canada, China, India, Japan, Korea, and the United States—to accelerate the development and deployment of cleaner, more efficient technologies. APP activities help its partners meet national pollution reduction, energy security, and climate change concerns in ways that promote sustainable economic development and reduce poverty. Together, partner countries account for over half of the world’s population, economy, and energy use.
“ICF has been leading U.S. bilateral energy and environment programs in China since 1993,” said Don Anderson, ICF vice president and lead environmental sustainability advisor. “We have years of experience in implementing market-based building energy performance improvement programs in the U.S. and China, including supporting the U.S. Environmental Protection Agency’s China eeBuildings and U.S. ENERGY STAR programs.”
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.
Caution Concerning Forward-looking Statements
This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy sector of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.