Houston, Texas, February 20, 2024 - Excel Services Corporation ("Excel") is pleased to announce a partnership with Pelican Energy Partners ("Pelican"). Excel is based in Rockville, Maryland and is an industry leader in providing innovative solutions to complex problems that enhance safety, security and efficiency in the nuclear industry. Pelican provided equity financing to assist in facilitating Excel's acquisition of Iepson Consulting Enterprises and will be a passive equity holder providing additional equity capital for future acquisitions to facilitate Excel's growth and expansion in the U.S. and globally. Donald Hoffman, CEO and Founder of Excel, and the Excel leadership team will continue to lead and grow the company providing the same industry leading service levels demonstrated over the past 39 years.

Donald R. Hoffman, the CEO and Founder of Excel, stated, "We are excited to gain the financial support from a proven team in Pelican. They have spent years building their knowledge of the nuclear services sector and I look forward to leveraging their team to help me continue growing Excel to new heights."

Mike Scott, the Founding Partner of Pelican, stated, "Excel is a great company with a nearly 40-year track record of unmatched service for its customers. We are excited to back and support Donald Hoffman, the longtime owner and CEO of the company, as he continues to run and grow the business into the future. The business is well positioned to extend and enhance operations of the 93 United States reactors, as well as the development of new and expanded nuclear programs – large, small, and micro reactors in the U.S. and internationally."

For more information on Excel, please see the Excel website, www.excelservices.com.

Locke Lord LLP acted as legal counsel to Pelican Energy Partners, and Anthony F. Newton and colleagues with Newtonian Law served as legal counsel to Excel.

About Excel Services Corporation

Excel Services Corporation is a Rockville, Maryland based consulting firm who offers several consulting and regulatory services including operations and maintenance cost reduction; workforce enhancement; new reactor development and technology recommendations; recertification; nuclear regulatory policy development; event analysis; critical infrastructure protection; Improved Technical Specifications conversions, upgrades, and training; license renewal and subsequent license renewal applications and implementation; 24-month fuel cycle extensions; extended power uprates; Owners Group support, and other areas. Excel has extensive experience working with regulatory bodies such as the US Nuclear Regulatory Commission, Canadian Nuclear Safety Commission, STUK, and many others, as well as the International Atomic Energy Agency.

About Pelican Energy Partners

Pelican Energy Partners is a Houston-based private equity firm specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies. The firm makes investments in energy equipment and service companies in the oil and gas and nuclear sectors.

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