Alpine 4 Holdings Inc subsidiary Identified Technologies said that after receiving inquiries from several shareholders, it would like to clarify that its contract for the Everglades Restoration Project in Florida is “through a prime contractor, as opposed to directly with the Army Corps of Engineers”.
The Everglades Restoration Project is one of the largest water management projects in the country, according to Alpine 4.
“The Identified software platform is being deployed to help manage construction for a multinational contractor and keep federal, state, and county project stakeholders aligned with one another,” said the company.
READ: Alpine 4 Holdings subsidiary Identified Technologies signs multi-year drone mapping contract
The Everglades restoration project involves a 16-mile sand embarkment dam, a 10-acre reservoir, a perimeter canal and multiple water control structures.
In a statement, Identified Technologies President Dick Zhang said: "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 US 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.”
Zhang added that the restoration plan will have “positive impacts” in the “community, the ecosystem, the seafood industry, and hundreds of miles of Florida's coastline".
Meanwhile, Alpine 4 CEO Kent Wilson added: "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 of Drivers, Stabilizers, and Facilitators.
Identified provides 2D data, 3D volumetrics, and orthomosaics, as built versus planned comparisons, as well as progress and cost forecasting and change detection for industrial clientele. Identified helps firms including Lane Construction, Vulcan Materials, Granite Construction and PJ Dick with the ability to map highways, mines, and landfills in near real-time.
Phoenix-based Alpine 4 Holdings acquires and develops a broad range of innovative companies. The holding company’s acquisition strategy looks at existing smaller, middle-market operating companies with revenues of $5 million to $50 million. It recently entered the commercial drone market with two major acquisitions.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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