Benzinga | Nov 18, 2021 04:20PM EST

Mammoth Energy Services Reports Multi-Year Electric Vehicle Charging Engineering Contract, Says Contract Will Not Exceed $5M, Will Run Into 2024

Mammoth Energy Services, Inc. (NASDAQ:TUSK) ("Mammoth" or the "Company") today announced that its wholly owned subsidiary, Aquawolf LLC ("Aquawolf"), a Denver-headquartered provider of infrastructure engineering services, has been awarded a contract by a major utility to provide engineering and design service for the building of Electric Vehicle ("EV") charging station infrastructure to support its clean transportation initiatives. The scope of services under the contract includes direct engineering and oversight of subcontractors providing civil and structural engineering, electrical distribution design, planning, drafting and mapping, permitting and construction support. The multi-year contract was issued in an amount not to exceed $5 million and will run into 2024.

"This contract is a significant development for our Aquawolf team and allows us to compete for further business in the EV charging market," said Arty Straehla, CEO of Mammoth. "Part of the recently passed infrastructure bill contains $7.5 billion for the development of 500,000 EV charging stations and distribution throughout the U.S. This move into EV charging stations allows Aquawolf to expand our business lines and continue the growth of our engineering offerings."