Bowman Builds on Recent SEI Acquisition with $3 Million in New Energy Services Awards

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN) reported booking $3 million of new renewable energy, solar, electric vehicle, and energy storage assignments during the first 90 days post-closing on SEI Professional Services in November 2022. These assignments vary in size and duration covering multiple customers and geographies. The SEI acquisition added a variety of technical services and experiences to Bowman’s portfolio which benefit developers and owners of solar energy facilities along with photovoltaic and battery energy storage operators within the utility and commercial markets.

Bowman continues to support its utility and renewables customers with expanded energy-related engineering design and geospatial services relating to infrastructure transition and maintenance monitoring. This includes expansion of Bowman’s UAS hardware to broaden the company’s fleet of fixed-wing and rotary drones by more than 25%, upgraded data collection hardware and software, and the acquisition of Spatial Acuity in November 2022. Bowman’s extensive fleet of geospatial assets enables the company’s team of technical and survey professionals to collect high-precision, vital data for solar sites, utility transmission facilities, and power generation systems.

“The SEI and Spatial Acuity acquisitions have positioned us to compete more broadly in the race towards decarbonization and energy transition,” said Dan Swayze, Executive Vice President of Energy Services at Bowman. “The Inflation Reduction Act is supercharging interest in investment in renewable energy sources resulting in increasing demand for our depth of experience, expertise and national reach within the energy industry. Renewable energy growth in the U.S. has nearly doubled over the last five years and demand for solar capacity alone is expected to nearly triple by 2027. Bowman is well-positioned to meet the accelerating growth.”