TRANSPORTATION, INFRASTRUCTURE & LOGISTICS INTERVIEW
Powered up Electrical and utility contractor says continued momentum to put power lines, fiber optic cables underground is a growth opportunity
Bernard Paul-Hus President & CEO – Hypower Inc. to live in a home. I expect that will accelerate and we will see more of those projects. In which industries have you seen a change in demand and what would you attribute that to? The primary reduction in demand has been driven by the inability to get materials at a price that fits the budgets that were established before the start of the pandemic. The price of everything from plywood to copper wire, steel and aluminum has gone up drastically. Transporting supplies has not been a big deal but getting the raw materials has been the challenge and this has not been exclusively due to COVID. The hurricanes have had a huge impact on anything like PVC, polyethylene pipe, insulation for wire and fiber cable on a supply basis. It is now getting to the point where it is impacting decisions on which jobs get shelved and which get built.
What are the areas of growth for Hypower? From an energy basis, I am pleased to see there is continuing momentum to do away with overhead power lines as well as fiber optic cable and coax cable lines. Everything is going underground, and when the hurricanes come through, people do not lose power and communication as easily. What we are seeing is a combination of people just wanting their utilities underground and needing them underground so that they can get through these hurricanes much better. This costs between $40,000 to $60,000 per home in most cases. It’s a massive investment but at the same time, it’s also light given the damage that happens to homes during a hurricane, not to mention the inconvenience of not having power for three weeks, the lack of safety, the need to rent hotel rooms somewhere, and the inability 122
How has the pandemic affected your contribution to the community? Supporting our community is a core value. As an important part of our company culture, our 400-plus employees have been involved in numerous events raising hundreds of thousands of dollars over the years. In 2020, even during these uncertain times, Hypower decided to more than double down on its financial commitments to local nonprofit organizations. Clearly many were not able to sustain their charitable giving during the pandemic so we stepped up and doubled what we gave the previous year to help offset the impact caused by the pandemic. Afterall, we were allowed to continue working as an essential business. Hypower is a main sponsor of HANDY (Helping Abused Neglected and Disadvantaged Youth), 4KIDS of South Florida, as well as a significant contributor to Boys and Girls Club, Cystic Fibrosis Foundation, Construction Angels and many others.
| Invest: Greater Fort Lauderdale 2021 | TRANSPORTATION, INFRASTRUCTURE & LOGISTICS
