Joint Venture will lead made-in-Canada solution for Polar Over-The-Horizon
Radar contract valued at $48.4M
CALGARY,
AB, April 2, 2025 /CNW/ - ATCO Ltd.
(TSX: ACO.X) (TSX: ACO.Y)
The Government of Canada has
awarded a joint venture between ATCO Frontec Ltd., and Inuvialuit
Development Corporation (IDC), a two-year contract valued at
$48.4 million to design, build,
install and operate a new radar defence system in the Northwest Territories. Under the terms of the
joint venture agreement, IDC holds 51% ownership, while ATCO holds
49%. The Polar Over-the-Horizon Radar (POTHR) system will use
technology that can detect targets at long ranges, typically
hundreds to thousands of kilometres, beyond the typical radar
horizon.
"We've assembled an incredible team of experts to deliver a
highly technical, made-in-Canada
solution for the POTHR program," said Jim
Landon, President, ATCO Frontec. "Our partnership has
decades of experience operating and maintaining defence
infrastructure in the Northwest
Territories and across Northern
Canada."
The enhanced infrastructure is part of a Government of
Canada funding plan to strengthen
our country's continental defence capabilities, including to
modernize the North American Aerospace Defence Command (NORAD).
"We are proud to leverage our deep knowledge of the region and
work alongside Inuvialuit businesses to drive this project
forward," said Robert C. McLeod,
Chair, Inuvialuit Development Corporation. "This collaboration will
create lasting economic opportunities, strengthen local capacity
and deliver direct benefits to Inuvialuit beneficiaries for years
to come."
The joint venture has teamed up with Canadian-owned D-TA Systems
Inc., a global technology leader with a proven track record and
expertise delivering Over-the-Horizon Radar (OTHR) systems. D-TA
has already provided two OTHR systems to Canada, the largest in the world, on-time and
on-budget.
"In joining forces with ATCO Frontec and IDC, we are leveraging
the unmatched logistics and Indigenous partnership capabilities of
two Canadian companies, while addressing the stringent logistic and
construction challenges of delivering, installing and operating
this critical radar technology in the harsh environment of
Canada's north," said Dr.
Dipak Roy, Founder & Executive
Chairman, D-TA Systems Inc.
The partners are working with a number of Canadian-owned and
operated suppliers and contractors. The contract commenced on
March 28, 2025, with a term of two
years and potential for three additional one-year options.
About Inuvialuit Development Corporation
IDC is a
diversified investment, venture capital and management holding
company, wholly owned by Inuvialuit Regional Corporation.
Incorporated in 1977, IDC has worked methodically to generate
wealth, build a sustainable financial legacy and return secure and
long-term benefits to our shareholders.
https://irc.inuvialuit.com/
About D-TA Systems
Founded in 2007, D-TA designs,
develops, and manufactures spectrum processing solutions for
demanding electronic warfare applications. D-TA's commercial
off-the-shelf products cover virtually all aspects of
Electromagnetic Spectrum Operations (EMSO) from spectrum sensing to
spectrum creation. D-TA is the only SMB capable of offering
complete turn-key solutions for all EMSO missions.
https://www.d-ta.com/
About ATCO
As a global enterprise, ATCO Ltd. and its
subsidiary and affiliate companies have approximately 21,000
employees and assets of $27 billion.
ATCO is committed to future prosperity by working to meet the
world's essential energy, housing, security and transportation
challenges. ATCO Structures designs, builds and delivers products
to service the essential need for housing and shelter around the
globe. ATCO Frontec provides operational support services to
government, defence and commercial clients. ATCO Energy Systems
delivers essential energy for an evolving world through its
electricity and natural gas transmission and distribution, and
international electricity operations. ATCO EnPower creates
sustainable energy solutions in the areas of electricity
generation, energy storage, industrial water and cleaner fuels.
ATCO Australia develops, builds,
owns and operates energy and infrastructure assets. ATCOenergy and
Rümi provide retail electricity and natural gas services, home
maintenance services and professional home advice that bring
exceptional comfort, peace of mind and freedom to homeowners and
customers. ATCO also has investments in ports and transportation
logistics, the processing and marketing of ash, retail food
services and commercial real estate. More information can be found
at www.ATCO.com.
Investor Inquiries:
Colin
Jackson
Senior Vice President, Financial Operations
Colin.Jackson@atco.com
403-808-2636
Media Inquiries:
Doris
Kaufmann Woodcock
Manager, Media Relations and Communications
Media@atco.com
587-215-9115
Forward-Looking Information
Advisory
Certain statements contained
in this news release constitute forward-looking information.
Forward-looking information is often, but not always, identified by
the use of words such as "anticipate", "plan", "estimate",
"expect", "may", "will", "intend", "should" and similar
expressions. In particular, forward-looking information in this
news release includes, but is not limited to, references to: the
joint venture leading a made-in-Canada solution for the POTHR program; the
technology capabilities of the POTHR system; the goals and
objectives of the enhanced infrastructure; the anticipated impact
and benefits of the contract, including anticipated economic
opportunities, impact to local capacity and benefits to Inuvialuit
beneficiaries; the partnership capabilities of the joint venture
and the proposed third-party partners on the project; and the
expected term of the contract.
Although ATCO Frontec Ltd. (the Company) believes that
the expectations reflected in the forward-looking information are
reasonable based on the information available on the date such
statements are made, no assurance can be given that these
expectations will prove to be correct and such forward-looking
information should not be unduly relied upon. Forward-looking
information involves known and unknown risks and uncertainties and
other factors, which may cause actual results, levels of activity
or events to differ materially from those anticipated in such
forward-looking information.
The Company's actual results could differ materially from
those anticipated in this forward-looking information as a result
of various risk factors, many of which are beyond the control of
the Company. For information about the principal risks that the
Company faces, see "Business Risks and Risk Management" in the
Company's Management's Discussion & Analysis for the year ended
December 31, 2024.
Any forward-looking information contained in this news
release represents the Company's expectations as of the date hereof
and is subject to change after such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
information whether as a result of new information, future events
or otherwise, except as required by applicable securities
legislation.
SOURCE ATCO Ltd.
