Fulcrum Utility Services Ltd New Contract Awards (0907W)
April 21 2021 - 1:00AM
UK Regulatory
TIDMFCRM
RNS Number : 0907W
Fulcrum Utility Services Ltd
21 April 2021
21 April 2021
FULCRUM UTILITY SERVICES LIMITED
("Fulcrum" or the "Group")
New Contract Awards
Fulcrum Utility Services Limited, a leading independent
multi-utility infrastructure and services provider focused on
delivering infrastructure for the UK's net-zero future, is pleased
to announce that it has secured two new contract awards at Fairham,
Nottinghamshire ("Fairham").
These two initial contracts, worth GBP5.9 million, are expected
to be delivered over a period of two years and will supply the
electricity, gas and water "spine" infrastructure and a primary
substation at Fairham's major new 606-acre neighbourhood in
Nottingham. Fairham is a joint venture between Derbyshire-based
Clowes Developments and Homes England, the government's housing
accelerator. Its GBP800 million project in Nottingham is East
Midlands' most significant, mixed-use development, and will include
the construction of 3,000 new homes and one million square feet of
purpose-built commercial space.
The Group expects that there will be considerable opportunities
to supply additional utility works on the development as part of a
new utility infrastructure agreement entered into between Fulcrum
and Fairham, in which Fulcrum has been specified as preferred
utility partner for home builders constructing on this development.
Once installed by the Group, the electricity and gas infrastructure
will be adopted by E.S. Pipelines Limited ("ESP") under its
existing asset adoption agreement.
This is the latest in several multi-million-pound contract wins
secured by the Group, building on its strategic partnership with
ESP. In recent months, the Group secured a GBP4.2 million contract
to provide 13.5km of new high voltage electrical infrastructure for
a major redevelopment project and a GBP1.8 million contract to
install electricity and gas infrastructure to another large
mixed-use development.
Terry Dugdale, CEO, said:
"We are delighted to be working as a preferred partner with
Fairham on this exciting, and significant, project that will create
a thriving new community and a prime residential and commercial
destination in Nottingham.
This is the latest in a succession of major contract wins for
the Group as we continue to bid on, and win, larger residential,
mixed-use and commercial contracts. These latest contract wins
demonstrate the improvements that the new management team are
making in our business and our operational efficiency and have been
supported by our enhanced capabilities, which includes our asset
adoption relationship with ESP."
Robert Hepwood, Director at Clowes Developments added:
"Fairham is one of the most significant mixed-use developments
in the country, bringing fresh employment opportunities and
much-needed new housing to the region. It will create a vibrant
community with new health, education, leisure, retail and local
facilities set within a well-planned, sustainable, safe and
characterful environment."
Enquiries:
+44 (0)114 280
4102
Fulcrum Utility Services Limited
Terry Dugdale, Chief Executive Officer
+44 (0)20 7397
Cenkos Securities plc (Nominated adviser and broker) 8900
Max Hartley (Nomad) / Michael Johnson (Sales)
N+1 Singer (Joint Corporate Broker) +44 (0)20 7496
Sandy Fraser / Rachel Hayes 300
Notes to Editors:
Fulcrum is a multi-utility infrastructure and services provider.
The Group operates nationally with its head office in Sheffield, UK
and its main business is the design, build, ownership and
maintenance of energy connections and their related utility
infrastructure. The Group's offering also extends to smart meter
ownership and exchange programmes, and the selective ownership and
maintenance of utility networks and infrastructure.
https://investors.fulcrum.co.uk/
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