Energetics on Winning Team to Provide R&D Services to DOE’s National Energy Technology Laboratory (NETL)
Energetics Incorporated (Energetics), a subsidiary of VSE Corporation (Nasdaq: VSEC), was selected as part of the winning team to assist NETL to conduct its primary mission of ensuring that U.S. fossil energy resources can meet increasing demand for affordable energy without compromising environmental quality. The five-year contract consisting of a three-year base period and two one-year options represents potential Energetics revenues of $16 million and follows a decade-long history of building work with NETL at sites in Morgantown, WV and Pittsburgh, PA.
Energetics will provide technical and management expertise to support the successful integration of all stages of science and technology development leading to commercially viable products. Specific technical service areas include Partnership Development; R&D Technology Planning and Analysis; and Environmental, Safety, and Health Assurance.
Energetics provides diversified services and products to energy and environmental markets. Energetics’ principal customers are the Department of Energy and its National Laboratories.
VSE provides diversified services to the engineering, energy and environment, security, and defense services and homeland security markets from more than 15 locations across the United States and around the world. VSE reported consolidated revenues of $96.7 million and earnings of $1.6 million ($.70 per share basic, $.68 per share diluted) for the six‑month period ending June 30, 2004.
Further information about Energetics is available at www.energetics.com and on VSE at www.vsecorp.com
