Ameresco Strengthens Long-Term Partnership with Reed College through $11M Contract for Campus Energy Infrastructure Upgrades

Project will Deliver Extensive Infrastructure Upgrades across Campus to Ensure Safe and Comfortable Learning Environments while Promoting Sustainability

FRAMINGHAM, Mass. & PORTLAND, Ore.--(BUSINESS WIRE)--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.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

About Reed College

Founded in 1908 in southeast Portland, Oregon, Reed College is a coeducational, independent liberal arts and sciences college. Referred to as one of the most intellectual colleges in the country, Reed is known for its high standards of scholarly practice, creative thinking, and engaged citizenship.

Reed College is devoted to the intrinsic value of intellectual pursuit and governed by the highest standards of scholarly practice, critical thought, and creativity. Its undergraduate program of study, leading to the degree of Bachelor of Arts, is demanding and intense and balances breadth of knowledge across the curriculum with depth of knowledge in a particular field of study. The goal of the Reed education is that students learn and demonstrate rigor and independence in their habits of thought, inquiry, and expression.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported awarded backlog as of December 31, 2024.