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Top 20 MEP Consultants 2017

by Rajiv Ravindran Pillai on Jun 1, 2017

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6. CH2M

A biofuel research facility in Masdar City in Abu Dhabi is tackling the dual challenges of food and water security, while simultaneously providing a sustainable source of aviation fuel. CH2M, along with its clients - Masdar Institute of Science and Technology (Masdar Institute) and the Sustainable Bioenergy Research Consortium (SBRC), last year started working together with industry, academia and government on the world’s first research facility using desert lands irrigated by seawater to produce both bioenergy for aviation, as well as raise farmed fish and shrimp for food.

CH2M was commissioned to undertake the engineering design and construction oversight of this sophisticated research facility. Working closely with Masdar Institute and the SBRC, CH2M engineers translated and defined the high-level concept for this seawater agriculture system into a viable operating plant, successfully mimicking a coastal environment in an inland location for research purposes.

In more recent global news, CH2M announced that it has completed the issuance of $200m in aggregate principal amount of senior secured fixed-rate notes, the net proceeds of which will be used to pay down debt borrowed under its existing bank revolving credit agreement. At closing, total debt outstanding remained approximately the same.

The $200 million of additional financing when combined with related bank amendments to the revolving credit facility increase available borrowing capacity to over $300 million – more than adequate to meet the Company’s liquidity needs.

“We already are realizing benefits from steps taken last year to substantially improve overall profitability and cash flow, and are looking forward to a much stronger year in 2017,” said CH2M Chief Financial Officer Gary McArthur. “This new funding mechanism provides access to additional capital as a prudent safety net for our liquidity.”