|EERC posts record fiscal year-end financials|
The Energy & Environmental Research Center announced its contract awards for the fiscal year ending June 30, 2006, topped a record $45 million. In FY06, the EERC had over 435 active contracts with a total value of more than $135 million, which includes multiyear awards.
Earlier projections for FY06 suggested contract awards to total between $40 and $42 million, but several new major contract awards pushed that number over the $45 million mark.
"This is a tremendous accomplishment," said EERC Director Gerald Groenewold. "The EERC has positioned itself through very careful planning and implementation over the past 20 years in a number of technical areas that we feel are extremely critical in the 21st century," he continued. "The net result is we are currently involved in almost every aspect of energy and environmental research that has caught the world's attention."
Proposal and contract activities have remained steady over the past three years. This fiscal year, the EERC submitted about 290 proposals to clients with an overall value of more than $77 million. In FY05, 294 proposals were submitted with year-end contract awards topping $29 million. In FY04, the EERC submitted 289 proposals and had year-end contract awards of more than $26 million.
"The proof of our success is in our relationships," Groenewold said. "Over the past two decades, the EERC has had over 900 contracts with a variety of partners. We have also had tremendous support from major corporate partners, the North Dakota Congressional Delegation, the Governor, and regional and city leadership."
The EERC is a research, development, demonstration, and commercialization facility recognized as one of the world's leading developers of cleaner, more efficient energy technologies as well as environmental technologies to protect and clean our air, water, and soil. The EERC has a market-driven, entrepreneurial culture which fosters working partnerships with private industry, government, and research clients. Since 1987, the EERC has had nearly 900 clients in all 50 states and 47 countries.
The EERC's $45 million in new contract awards will result in approximately $110 million of economic impact in the Grand Forks region. Currently, the EERC has more than 280 employees representing 90 different disciplines, with 18 new positions currently advertised. Within the next two years, the EERC will be providing direct and indirect employment for approximately 1200 people in the Greater Grand Forks area.
"Six years ago, we projected significant growth over the next decade or two, and we're confident that this current growth will continue," Groenewold said.
-- Gerald Groenewold, EERC director, 777-5131 or firstname.lastname@example.org