Pennsauken, NJ – July 28, 2021 — RCM Technologies, Inc. (NasdaqGM: RCMT), a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering, specialty health care, and information technology services, today announced the completion of an Engineer-Procure-Construct (EPC) project which involved the installation of a new high-voltage substation for a major U.S. utility.
The agreement with American Electric Power (AEP) involved the full design and construction of the important new Esperanza Substation that consists of a 138kV three (3) breaker ring bus and two (2) 28.8 MVAR capacitor banks in Matagorda County, Texas.
Through use of Integrated Design and Construction technology, RCM Engineering’s Energy Services team successfully designed and constructed the 138kV Substation in eleven (11) months to support AEP’s mission in powering their clients.
According to Jim Nivens, Project Manager for transmission projects at AEP, RCM was able to meet the utility’s desire for a turnkey solution, including scope and a finished project. AEP has been an important client of RCM’s and has involved RCM in numerous projects.
The recently completed project also included the design and installation of approximately 0.75 mile
of double-circuit 138kV line which interconnected the new Esperanza Substation to the existing
Blessing – Celanese 138kV Transmission Line. The new Esperanza Substation will interconnect
50MW of load from a local industrial user.
Frank Petraglia, President of RCM Engineering, commented “I am proud of the Energy Services team in their continued focus to provide innovative, safe solutions to support our client’s success in business through our integrated design and construction tools and processes. Our approach to these large projects helps our customers meet their aggressive goals on time and on budget while preventing or mitigating most issues through construction.”
RCM Technologies, Inc. is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced information technology and engineering services. RCM is an innovative leader in the delivery of these solutions to commercial and government sectors. RCM is also a provider of specialty healthcare services to major health care institutions and educational facilities.
RCM’s offices are located in major metropolitan centers throughout North America and Serbia.
Additional information can be found at www.rcmt.com.
The Statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements.
These statements often include words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should,” “are confident” or similar expressions. In addition, statements that are not historical should also be considered forward-looking statements. These statements are based on assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in
Forward-looking statements include, but are not limited to, those relating to the impact of the COVID-19 pandemic, demand for the Company’s services, expectations regarding our future revenues and other financial results, our pipeline and potential project wins and our expectations for growth in our business. Such statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors, which may cause actual events to be materially different from those expressed or implied by such forward-looking
Risk, uncertainties and other factors may emerge from time to time that could cause the Company’s actual results to differ from those indicated by the forward-looking statements.
Investors are directed to consider such risks, uncertainties and other factors described in documents filed by the Company with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements contained in this release as a result of new information or future events or developments, except as may be required by law.