PowerFlex is closely monitoring the status of the Coronavirus Disease 2019 (COVID-19) as the situation continues to evolve. Our top priority is the health of our employees, clients and communities surrounding our offices and project sites. We have been vigilant about facilitating and encouraging healthy habits as recommended by the CDC. During this time of uncertainty, we want to address some questions that may arise regarding its impact on company operations.
Our Vice President of Technology and Procurement, Edgar Lim, has been carefully monitoring the supply chain for our projects and foresees no significant delays to our project timelines as of now. We are keeping clear, frequent and open communications with our key vendor partners, providing them with sufficient notice of our needs. Overall, we source our equipment from large manufacturers that are maintaining relatively stable supply chains (BloombergNEF). Additionally, as of the beginning of March, many large companies in China are reporting they are operating at more than 90% capacity. Trucking capacity is increasing along with logistics capacity, so we expect the supply chain to normalize as the situation in China continues to stabilize (McKinsey and Company).
PowerFlex is encouraging virtual meetings unless absolutely necessary to do otherwise. We are remaining responsive to our clients’ concerns and respectful of procedures they are enacting in light of COVID-19. We are closely monitoring the situation for work at our construction sites on a state-by-state basis to determine the regulations as they develop and change. For our employees who must travel onsite, we are highly encouraging them to follow the CDC’s best practices.
We remain in operation and have taken decisive measures to mitigate the risk to our employees and communities in affected areas: we have released a work-from-home policy option for our offices and shifted as much of our activity as possible to working remotely. We consistently communicate with our employees to help them understand relevant risks and to help ensure they remain aware of proper precautions. We have also been vigilant about providing hand-sanitizer and encouraging healthy habits as recommended by the CDC for people traveling onsite to project locations.
The CDC guidelines are as follows:
Please note that Coronavirus disease (COVID-19) is characterized by mild symptoms, including shortness of breath, coughing and fever. If you experience these symptoms, stay home and avoid public areas. Remember to do your part in following these guidelines to protect yourselves and your loved ones during this time. Safety and health continue to be our company’s top concern, and we encourage everyone to stay updated on the latest developments and best practices regarding the outbreak in their state.
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