Benzinga | Dec 17, 2021 04:34PM EST

Alpine 4 Holdings Says Contract For Everglades Restoration Project Is Through Prime Contractor (vs Directly With Army Corps Of Engineers), No Terms Disclosed

Alpine 4 Holdings, Inc. (NASDAQ:ALPP), a leading operator and owner of small market businesses, subsidiary Identified Technologies (Identified), announced today that after inquiries from several shareholders, the company would like to clarify that its contract for the Everglades Restoration Project is through a prime contractor, as opposed to directly with the Army Corps of Engineers.

Project Details: The Everglades Restoration Project is one of the largest water management projects in the country. It involves a 16-mile sand embarkment dam, a 10-acre reservoir, a perimeter canal, and multiple water control structures. The Identified software platform is being deployed to help manage construction for a multi-national contractor and keep federal, state, and county project stakeholders aligned with one another.

Dick Zhang, President of Identified commented, "After receiving some inquires, I want to give more clarity around my statements from a few weeks ago. Our work is contracted with the C43 Water Management Builders, referenced above and in the original press release as the "multinational contractor." The C43 Reservoir is part of the Comprehensive Everglades Restoration Plan (CERP), launched in 2001 and jointly funded by the federal government and the state of Florida through the U.S. Army Corps of Engineers and the South Florida Water Management District. Our work on this vast landscape showcases our ability to deliver data analysis and accuracy on an unprecedented scale. I am humbled that our team is able to contribute to a project with such reach. The restoration plan will have positive impacts in the community, the ecosystem, the seafood industry, and hundreds of miles of Florida's coastline."

Kent Wilson, CEO of Alpine 4, had this to say, "While the merits of this work have not changed, nor should the work that Dick and his team are doing be diminished, we felt it was best to clarify this information to the public. As always, we value our shareholders and look forward to completing this project!"

Identified Technologies currently resides in the A4 Aerospace Portfolio as both a Driver and Facilitator from Alpine 4's DSF business model.

About Identified Technologies: Identified Technologies (Identified) provides 2D data, 3D volumetrics, orthomosaics, as built versus as planned comparisons, as well as progress and cost forecasting and change detection for industrial clientele. Identified's software and services take care of everything from FAA compliance and flight planning to advanced analytics. Identified empowers companies, including Lane Construction, Vulcan Materials, Granite Construction and PJ Dick with the ability to map highways, mines, and landfills in near real-time. https://www.identifiedtech.com