Press Release

ICF Awarded Approximately $110 Million in Contracts by Exelon Corporation

Fairfax, VA


Nov 21, 2016

ICF to Provide Commercial and Industrial Implementation Support as well as Marketing Support Services

ICF (NASDAQ:ICFI), a consulting and technology services provider to government and commercial clients around the world, was awarded a new contract with Exelon Corporation to support its energy efficiency commercial and industrial (C&I) Initiative. The agreement, awarded in the third quarter, has an approximate value of $90 million and a term of five years.

In addition, ICF was awarded two new contracts with Exelon subsidiary, PECO, to provide marketing support. The two contracts have a combined value of approximately $20 million and a term of five years.

For the C&I Initiative, ICF will work directly with Exelon’s largest utilities – Commonwealth Edison (ComEd), PECO, and Baltimore Gas and Electric (BGE) – to provide comprehensive implementation support to their C&I energy efficiency programs. Service areas include portfolio management, trade ally recruitment and retention, account management, engineering support, program tracking and reporting, rebate processing and customer care and engagement.

“Exelon is pioneering the effort to procure its energy efficiency support services in a consolidated structure intended to generate cost savings and efficiencies, drive best practices and improve program performance across its portfolio,” said Selim Karabulut, senior vice president for ICF. “ICF has the depth, breadth and technical capacity to deliver outstanding results across all Exelon company end-user profiles while fulfilling the needs of customers in distinct territories and regulatory markets.”

ICF offers the ideal combination of energy efficiency expertise, data‐driven analytics, proven customer engagement strategies and the trusted relationships with key trade allies, utilities, regulators and customers to help Exelon optimize performance across its portfolio of programs. ICF brings over seven years of direct experience with BGE and PECO where the firm consistently delivered cost‐effective energy savings and helped the utilities exceed program goals and regulatory objectives.

Under the marketing support initiative, ICF will serve as the marketing firm for PECO’s residential and commercial energy efficiency solutions. In this capacity, ICF will provide annual marketing strategic planning, design, production and execution of multi-channel promotional campaigns that educate, engage and encourage customers to participate in PECO’s energy efficiency programs.

Through the agreement, PECO will access ICF’s award-winning full-service marketing agency-of-record capabilities to support its energy efficiency programs: creative design, media planning, media buying, channel outreach, customer analytics using ICF’s proprietary platform, digital customer engagement and best-in-market national energy efficiency expertise.


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About ICF

ICF (NASDAQ:ICFI) is a global consulting services company with approximately 7,500 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at

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Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

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