CHANTILLY, Va., Dec. 10, 2024 (GLOBE NEWSWIRE) -- (December 10, 2024) – Parsons Corporation (NYSE: PSN) announced today that the company has formed a joint venture with V2X named Polar Science Alliance (PSA), LLC to pursue the National Science Foundation’s (NSF) Antarctic Science and Engineering Support Contract (ASESC). This mission-critical $8 billion ceiling value single-award indefinite-delivery, indefinite-quantity contract will enable world-class scientific research support services for the United States Antarctic Program (USAP) over the next two decades.
NSF manages all U.S. scientific research and related logistics in Antarctica as well as aboard ships in the Southern Ocean through the USAP, the largest scientific research program in the Antarctic region. The NSF has maintained a pivotal U.S. presence in Antarctica for more than six decades, working to study the Antarctic and its ecosystems, understand the region's impact on global processes such as climate, and leverage Antarctica's unique features for scientific research that cannot be done as well elsewhere.
“Polar Science Alliance stands ready to bring the experience and resources of its parent companies, Parsons and V2X, to the world-class United States Antarctic Program,” said Jon Moretta, President, Engineered Systems for Parsons. “Parsons brings years of experience in polar operations to this joint venture, including work as the modernization designer and builder on the Antarctica Infrastructure Modernization for Science Project. We’re proud to team with V2X for the opportunity to be NSF’s USAP support services partner in enabling the world-class Antarctic science program.”
Parsons is a leader in providing the federal government with solutions to the most complex infrastructure challenges. The company has 55 years of successful and proven polar operations experience beginning in 1970 on the North Slope of Alaska, with capabilities spanning program and construction management, engineering and planning, and logistics. As a global solutions provider, Parsons works in all environments, including Antarctica's freezing temperatures and volcanic rock. The company uses technological innovation and harnesses the potential of artificial intelligence to empower smarter decision-making, drive efficiency, and support clients worldwide across infrastructure, the environment, and national security.
“V2X and Parsons have formed the perfect team to provide support to the NSF and support the USAP for scientific research in Antarctica,” added Ken Shreves, Senior Vice President of Mission Support at V2X. “With work from the Arctic U.S. Space Force base to the West-central Pacific Ocean U.S. Army Kwajalein Atoll, V2X is top support for any geographical and geopolitical environment in the world.”
As a testimony of working in polar climates, V2X has over a decade of large-scale polar operations experience and was recently awarded the follow-on decade supporting the U.S. Space Force in Greenland. In addition, V2X retains over 20 years of science support experience. V2X optimizes operations at every stage of the mission lifecycle, providing better support at lower cost using industry leading practices and lessons learned from a portfolio of global, large magnitude programs in remote, complex, and austere environments. For 80 years, V2X has enhanced operations, maintenance, logistics, engineering, technology, and sustainment for government clients worldwide.
The Polar Science Alliance collectively brings world-class capabilities in global logistics, operations, and engineering coupled with over 100 years of science and research support experience. To learn more about Polar Science Alliance, visit www.polarsciencealliance.com.
To learn more about Parsons’ federal infrastructure solutions, visit www.parsons.com/federal-infrastructure/.
To learn more about V2X and its capabilities, visit www.goV2X.com.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
About V2X:
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.
Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
Media Contacts:
Jonathan Larry
+1 706.832.7330
jonathan.larry@parsons.com
Investor Relations Contacts:
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Dave.Spille@parsons.us
