NV5 Awarded $6.6 Million Geospatial Contract by Investor-Owned Utility
HOLLYWOOD, Fla., March 08, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that Quantum Spatial, a division of NV5, has been awarded a $6.6 million contract by one of the nation’s largest energy utilities to provide geospatial analytics to support vegetation management and asset protection for critical electrical transmission infrastructure. This award has been released under a multi-year, sole-sourced contract to provide geospatial vegetation management solutions across the utility’s service area.
Under this contract, NV5 will provide rapid-turnaround lidar, imagery, and data analytics to identify vegetation growth threats along transmission corridors in six states. The information provided under this program will support safe and reliable power delivery to the utility’s customers and contribute to the client’s resource allocation and capital planning.
“The recent devastating weather events in Texas remind us how much we depend on the delivery of reliable energy to our homes and businesses,” said Dickerson Wright, PE, Chairman and CEO of NV5. “We are pleased to help our utility clients around the country identify risks, plan for future capital investments, and deliver dependable electrical and gas service to their customers.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of compliance, technology, and engineering consulting solutions for public and private sector clients supporting infrastructure, utility, and building assets and systems. The Company primarily focuses on six business verticals: testing, inspection & consulting, infrastructure support services, utility services, buildings & program management, environmental health sciences, and geospatial technology services. NV5 operates out of more than 100 offices nationwide and abroad. 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.
