AECOM Technology Corporation (ACM) received a contract for providing engineering, procurement and construction services for the New York City-based Newtown Creek Renewable Natural Gas Project. The contract is awarded by National Grid in collaboration with the New York City Department of Environmental Protection.
Per the contract, AECOM will be required to design and construct a purification system for converting the biogas, a by-product obtained from the Newtown Creek Wastewater Treatment Plant, to renewable natural gas that can be utilized for residential and commercial purposes. After purification, the company will be instilling the generated pipeline-quality gas into the existing gas network of the National Grid.
Starting construction in this year itself, the company expects to complete the project by 2016. AECOM will be designing this unique solution in order to recycle the waste into reusable natural gas.
This project marks the first of its kind wherein renewable gas generated from waste materials will be directly inserted into the existing regional distribution system. Hence, this project carries a vital importance for the U.S. Further, it is designed to minimize the environmental impact by producing clean and reliable energy. This also comes in line with the states’ aim of gearing up for the ongoing climate change.
Currently, AECOM has a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include Pernix Group Inc (PRXG), Quanta Services, Inc. (PWR) and AO Smith Corp (AOS). All these stocks hold a Zacks Rank #2 (Buy).
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