NV5 Announces $6 Million LNG Upgrade Award Supporting ENERGY 2021
HOLLYWOOD, Fla., March 09, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has secured a $6.2 million contract to provide engineering, procurement, and construction (EPC) services for the upgrade of the boil-off gas compression system (BOC) at a Pennsylvania liquefied natural gas (LNG) peak-shaving facility. The upgrade will provide for better handling of plant operations and increased BOC system reliability. The new system will incorporate 85,000 standard cubic feet of existing flooded screw technology compressors and associated equipment, as well as integrate the current electrical and control system.
“Energy services continue to be one of the fastest growing segments for NV5 in the fields of energy compliance, power delivery engineering, energy efficiency, and LNG services,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Our energy-specific technical expertise delivers unique value to power utility clients seeking to upgrade their infrastructure to improve efficiency and reliability and enhance public safety.”
“The energy utility industry’s commitment to improvements in reliability continues to drive strong demand for new LNG facilities and modernization of existing systems across the country,” said Peter Dirksen, PE, President of CHI Engineering Services, an NV5 company.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions, and delivers geospatial services through its subsidiary Quantum Spatial, Inc., the largest full-service geospatial solutions provider in North America. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at . Also visit the Company on , , , and .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
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Source: NV5 Global, Inc.
