Mammoth Energy Services (TUSK) Announces 5-Year Street Lighting Upgrade Contract

March 24, 2021 6:22 AM EDT

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Mammoth Energy Services, Inc. (“Mammoth” or the “Company”) (NASDAQ: TUSK) today announced that its wholly owned subsidiary, 5 Star Electric, LLC (“5 Star”), has been awarded a street lighting upgrade contract by a major Midwest investor owned utility. The five-year contract is expected to generate up to approximately $30 million in revenue over the contract term.

Arty Straehla, Chief Executive Officer of Mammoth commented, “The signing of this agreement is significant for our infrastructure group as it adds up to $30 million of stable contracted projects to our backlog. Furthermore, this contract provides an entry into the rapidly expanding buildout of Smart Grids, a new strategic direction for our infrastructure group. Given the recent change of administration and the extension of the solar and electric vehicle tax credits, we have seen a significant increase in solar, wind and civil infrastructure bidding opportunities since the beginning of the year. When coupled with our other infrastructure businesses, including engineering, we continue to make progress towards being a fully integrated Engineering, Procurement and Construction “EPC” company.”

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