Think Power Solutions saw a 55% increase in revenue; expands operating footprint in 2021
PLANO, Texas, Jan. 11, 2022 /PRNewswire-PRWeb/ -- Think Power Solutions, a leading infrastructure management solutions provider, today announced another year of exceptional growth highlighted by a 55% increase in revenue over 2020, industry accolades and the onboarding of several significant clients.
Think Power Solutions' continued growth is driven by several long-term infrastructure trends.
The electric grid is undergoing a massive investment cycle forecasted to extend for the next 20 years to accommodate the onslaught of electric vehicles, climate change, and alternative energy requirements.
Congress's passing of the Infrastructure Investment and Jobs Act bill will invest $550 billion in US infrastructure with over $72 billion used to restore and expand the electric grid, $65 billion to expand broadband infrastructure, with an additional $100 billion spent to upgrade and protect water infrastructure.
The utility industry workforce is aging, and it is expected that 45% will enter retirement within the next 3 years.
Utilities. Telecom, and Mission-Critical Infrastructure clients are seeking consulting partners to help them manage their multi-billion-dollar maintenance and investment budgets utilizing a technology-enabled services model.
"Think Power Solutions recognizes the need to provide technology to our field teams to create the most efficient solutions delivery model while providing our clients with real-time updates and greater collaboration. Our exceptional client service with the most modern technology platform, KYRO to support it, high employee satisfaction, and the potential infrastructure investment in the coming years are also contributing factors to our success," said Hari Vasudevan, CEO and founder of Think Power Solutions. "2021 was a great year and our win of significant PMO, construction oversight, and KYRO's SaaS contracts, as well as several industry accolades, underscores our value and vision in the utility and telecom sectors. We have the knowledge and experience to ensure projects are completed to plan, with safety, human performance, and compliance top of mind."
2022 highlights that contributed to Think Power Solutions' success include:
Corporate Growth: Think Power Solutions significantly increased sales and customer footprint, realizing an increase of 55% in revenue over the previous year.
Client Acquisition: Think Power Solutions won three separate contracts with electric utilities and telecom companies. With these contracts, Think Power Solutions expanded its service and operating footprint to 18 states from coast-to-coast.
Awards and Accolades: Think Power Solutions was named and certified as a Great Place to Work®, by the organization of the same name called "the global authority on workplace culture." Think Power Solutions also won a place on the 2021 Inc. 5000 list, one of the most prestigious ranking of the nation's fastest-growing companies.
OSHA Health and Safety Recognition: Think Power Solutions was recognized by the Occupational Safety and Health Administration (OSHA) as a Bronze Level participant for its commitment to workplace safety and health though its participation in Safe + Sound week and National Fall Protection Safety Stand-Down to prevent falls in construction. These OSHA programs requires active engagement by both management and employees.
Employee Satisfaction: Think Power Solutions achieved a score of 90% employee satisfaction in its first year competing in the 2021 Best Places to Work in North Texas program. This program measures a wide range of research-validated workplace factors that impact employee engagement and satisfaction.
Employee Retention: Think Power Solutions continued its high employee retention in 2021 with an industry leading employee retention rate of close to 90% in a hot labor market.
Think Power Solutions addresses the significant business, regulatory, and compliance challenges for its clients in the utilities, telecom, and construction industries. KYRO, Think Power Solutions' proprietary technology platform, enables effective project management office (PMO) services and construction oversight. KYRO enables rapid data and business analytics gathering displayed in a dashboard so projects and risks can be evaluated and managed in real time. Dashboards, datagrids, mobile connectivity, and analytics allow real-time tracking of PMO engagements both for on-site project managers and off-site organizational oversight. Think Power Solutions employs a customer-centric approach, tailoring its solution and consultants to the needs of the project.
About Think Power Solutions
Think Power Solutions is a leading tech-enabled infrastructure management solutions provider with highly skilled and dedicated consultants who clients entrust to manage their mission-critical infrastructure. Think Power Solutions was founded with the vision of providing exceptional client service influenced by modern technology to positively impact the utilities, telecom, and construction industries.
Think Power Solutions exists to serve its clients, making every effort to understand their needs to produce a high-quality deliverable specifically tailored to meet custom requirements. This client-centric philosophy, creative thinking, and innovative solutions, combined with stellar project execution attracts top industry talent. Think Power Solutions' culture enables its people to deliver industry leading services and products. For more information visit: https://www.thinkpowersolutions.com. Follow us on LinkedIn, Twitter, and Facebook.
# # #
Joanne Hogue, Smart Connections PR for Think Power Solutions, (410) 658-8246, email@example.com
SOURCE Think Power Solutions