Verbrec secures $16M in new energy contracts
- Verbrec (ASX:VBC) signed multiple energy infrastructure and cybersecurity agreements across Australia totalling $16 million.
- Following the announcement, the Verbrec share price was unchanged at $0.17.
- The company stated that these contracts build on its target strategy to support Australian energy security infrastructure.
Verbrec (ASX:VBC) announced the execution of several new agreements totalling $16 million for engineering, operations, and cybersecurity projects across Queensland, Victoria, Western Australia, South Australia, and the Northern Territory.
The recent contract awards bring the company's total year-to-date energy security project wins to over $36 million, building on prior project developments for Power & Water Corporation.
The press release did not include executive commentary regarding the contract awards.
Specific details include a $6.8 million pipeline facility project in Queensland, $7.2 million across pipeline and compression operations, and a $1.6 million award for subsidiary Alliance Automation to provide cybersecurity and control system services.
The company stated that its core business is uniquely positioned to deliver services across the full lifecycle of critical energy and gas infrastructure assets as Australia enters a period of gas reinvestment.
Following the announcement, the Verbrec share price was unchanged at $0.17.
Verbrec provides engineering, construction, and asset maintenance services for energy, infrastructure, and mining sectors across Australia and the Pacific.
The company previously secured a $21 million contract in the Beetaloo Basin to support regional pipeline development.
