But at Inogen Associate, HPC and for many of HPC's clients, FEST also means an innovative approach to site remediation which, true to its "other" meaning, provides clients with a positive outlook into the future. HPC's approach to fixed-price remediation has been coined "FEST":
- Fixed Price
- Environmental Liability
- Sustainable Solution
- Transparency in Calculations
Brownfield sites can be burdened with contamination and hazardous materials in remaining buildings. Even with a detailed site investigation, the potential for unknown contamination still remains; this risk or uncertainty is reflected in remediation costs which affect property value as well as the appetite from developers and investors to take on such sites. To overcome these obstacles, HPC can offer simplified brownfield redevelopment services with a risk and liability takeover for all remaining risks at a fixed price. Risks typically include the nature and extent of subsurface contamination, unexpected waste types in demolition, project delays etc. Remediation goals are clearly defined by both parties and achieved only when certified by a jointly agreed-upon (regulatory) body.
A formal contract between HPC and the Client, with no "hidden clauses" ensures the certainty of no extra costs, making this product unique in the remediation marketplace in Germany with over 50 successfully completed fixed-price projects now delivered.
Example Case Study: OFB
The following case study showcases the redevelopment of a more than 100 year-old 30,000 m² former metal processing and enamelling facility located in the city center of Fulda, Germany. OFB, developers and managers of high-quality office, administrative and commercial properties were considering the acquisition of the site, however, OFB's internal risk management did not allow it to accept any residual risks associated with the site from the previous owners. Therefore, a prerequisite for the realisation of the project was the transfer of known and potential environmental risk related to soil, groundwater and building materials to a third party.
HPC's FEST solution was able to unlock the site for development. HPC acted as general contractor for the project, and was responsible for the demolition and remediation works, disposal of deconstruction materials, hazardous building materials as well as contaminated soil and residues. Over the course of the project, HPC addressed known and unknown contamination and asbestos issues at the site and took on responsibility for a 30-year groundwater risk management program at the site - all for the pre-determined fixed price.
"The dedicated co-operation was characterized by mutual trust. We highly commend Inogen Associate HPC as a competent, reliable and innovative partner."
- Ralph Holeschovsky
Inogen Alliance partners are able to provide fixed price remediation and liability transfer solutions in several of its geographical areas which have been developed to suit local legal and regulatory frameworks as well as commercial market drivers unique to that geography.
For further information contact Inogen President Paul Durkee firstname.lastname@example.org