NV5 Awarded $8 Million Geospatial Contract to Support Northern California Wildfire Mitigation
HOLLYWOOD, Fla., Sept. 29, 2022 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded an $8 million contract by the US Geological Survey (USGS) to support wildfire studies and mitigation efforts in Northern California. This new agreement is an expansion of two prior contracts awarded to NV5 by the University of California (UCSD) and USGS to support wildfire studies and mitigation efforts in California’s Northern and Southern Sierra Mountain Ranges.
“Diminished water supplies due to extreme drought across the West have increased wildfire risk, and NV5 continues to lead the industry in providing geospatial and engineering services to understand and combat these environmental threats,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5’s geospatial analysis and award-winning water resource engineering solutions are a key component of California’s efforts to minimize drought and wildfire impacts.”
The project supports a multi-agency funding partnership that includes federal, state, and regional entities and includes topographic lidar data acquisition and processing of 19,137 square miles of the North Coast of California. Geospatial data from the program will support various applications with a primary focus on providing highly accurate topographic data critical to wildfire studies, water resource management, and land use management.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: utility services, infrastructure engineering, testing, inspection & consulting, 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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Source: NV5 Global, Inc.
