Indeed, L’Heureux shared multiple proof points during WSP's quarterly earnings call with financial analysts on August 8, 2023. Among the key takeaways L’Heureux mentioned:
United States Part I: WSP was selected as the professional engineer to design the Sunrise Wind Farm, the first U.S. offshore wind project converter platform slated to utilize high-voltage direct current technology or HVDC. Once completed, the offshore wind farm will power 600,000 New York homes, L’Heureux said.
United States Part II: The company was selected by the New York City Housing Authority to design a multifunctional storm water infrastructure intended to reduce flood vulnerability caused by intense rainstorms. This is known as Cloudburst Infrastructure. The concept comes from Copenhagen, where WSP designed the first such project and created the very first climate resiliency neighborhood, L’Heureux noted.
Canada: The company is delivering a carbon capture utilization and storage facility in Edmonton, Alberta. The project will capture emissions from the cement production facility as well as the associated combined heat and power plant to build in the cities northwest. The project aims to capture at full-scale 1 million tonnes of carbon dioxide annually, L’Heureux noted.
Australia: WSP is helping to deliver a clean, reliable and resilient electrical supply for communities in New South Wales. Moreover, the company is working to provide services for the Waratah Super Battery, which will represent the world's largest grid scale battery. Also of note, WSP is working with Microsoft to help the cloud and software company reach its sustainability commitment. Plus, WSP and Microsoft are jointly developing an evaluation framework to allow vulnerable communities to capture the benefits of renewable energy projects.
Water Projects and Overall Revenues
In terms of the bigger picture, Water-related projects represented over $1 billion in annual gross revenue in 2022, L’Heureux noted. He added: "Our water capabilities consist of nearly 5,000 experts spanning over 40 countries who focus on delivering future-ready solutions to preserve and manage water for generations to come."
WSP's overall business continues to grow. For Q2 of 2023:
Overall revenue was $3.63 billion, up 31.2% compared to Q2 of 2022.
Organic revenue growth was 9.3% in the quarter -- with the USA, Australia, the UK and New Zealand leading the way.
Acquisition growth was 16.9%, led by the acquisition of the Environment & Infrastructure business of John Wood Group.
WSP: Business Milestones and Partnerships
Additional WSP business milestones and relationships to note include:
June 2023:WSP and YoujiVest Hong Kong Limited (YJV) plan to jointly explore and develop specialized ESG, sustainability and climate services, especially in the area of material risk identification and management, the two companies said.
March 2023:WSP and Amazon Web Services (AWS) are collaborating in Australia to assist governments and the private sector with developing digital twins for complex infrastructure such as transport assets, buildings, bridges, and ports, the two companies said.
WSP, founded in 1865, is based in Montreal, Canada. The company provides professional services to companies in such sectors as transportation and infrastructure; property and buildings; environment, industry and resources; and multiple energy sectors. WSP has roughly 67,000 employees worldwide, including 16,000 in the United States.
Sustainable Tech Partner is a digital media platform and online community. Our content empowers technology partners and their customers to achieve a sustainable future.
