NV5 Awarded $9 Million Geospatial Vegetation Management Contract by Northern California Utility
HOLLYWOOD, Fla., Dec. 12, 2023 (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 a one-year, $9 million contract by a Northern California utility for vegetation management designed to minimize vegetation encroachment on the utility’s transmission system.
During the initial phase of the project, NV5 will utilize advanced remote sensing technologies to identify vegetation encroachment and hazards. Following the initial phase, NV5 will deliver additional midcycle inspections and tree health analytics.
"Effective vegetation management is essential to maintaining the safety and reliability of electrical utility infrastructure in the West and across the country,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5 utilizes the latest technologies and proprietary analytical tools to deliver actionable information to our utility clients and drive strong organic growth for our geospatial solutions.”
“NV5’s remote sensing capabilities are at the forefront of vegetation and asset management, and we are proud to deliver these innovative solutions to our valued clients," said Jennifer Whitacre, GISP, Sr. Director of Strategic Accounts of NV5. “We are proud to work with our clients to provide operational efficiencies and value to their vegetation management programs.”
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, construction quality assurance, buildings & technology, environmental health sciences, and geospatial 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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