Leidos Awarded $365 Million Department of Energy Research Support Contract
RESTON, Va., July 25, 2018 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, was awarded a Department of Energy contract to support research for the National Energy Technology Laboratory (NETL). The single-award, cost-plus-award-fee contract has a three-year base period of performance with two two-year option periods and a final three-year option period. The potential 10-year contract has a total dollar value of $364.7 million.
The NETL develops tools and processes to provide clean, reliable, and affordable energy to the American people. Under the contract, Leidos will provide scientific and engineering personnel, facilities, equipment, materials, supplies, and services to support technology-based energy research, development and demonstrations.
Additionally, Leidos will lead a team that includes subcontractors, various universities and small businesses to provide logistical and research support, business development, financial management, and research execution. The contract supports efforts intended to accelerate the development of reliable, clean, efficient energy systems.
"Leidos and its partners have more than 100 years of combined experience providing scientific and engineering support to the federal government," said Angie Heise, Leidos Civil Group President. "We will leverage that experience as we work with the Department of Energy to continuously improve research efforts at the NETL and help them deliver on their critical mission."
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 31,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $10.17 billion for the fiscal year ended December 29, 2017. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended December 29, 2017, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.