NV5 Announces $6 Million Contract for Environmental Inspection of Natural Gas Pipeline Infrastructure
HOLLYWOOD, Fla., Jan. 30, 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 been awarded a contract to provide environmental consulting and inspection services for the replacement of 61 miles of aging natural gas pipeline infrastructure in Ohio and West Virginia. NV5 will document compliance with the Federal Energy Regulatory Commission (FERC) certificate, applicable federal, state, and local permits and approvals, and the environmental commitments dictated in our client’s project-specific plans and landowner agreements. The contract is valued at approximately $6 million and is expected to be completed in 19 months.
“NV5’s technical expertise and reputation in the power utility industry continues to drive growth in our Energy vertical and propel us toward meeting the goal of our ENERGY 2021 initiative: achieving an annual run rate of $250 million in energy services revenue by the end of 2021,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Our investments in energy-specific capabilities continue to generate growth in large contracts and new geographies.”
“We are proud to contribute to the modernization of aging pipeline infrastructure, resulting in improvements in safety, reliability, and environmental responsibility,” said Kevin Wedman, CBO, Senior Vice President, Energy Compliance at NV5.
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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NV5 Global, Inc.
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Source: NV5 Global, Inc.
