NV5’s Quantum Spatial Selected as a Prime Consultant on $40 Million NOAA Contract
HOLLYWOOD, Fla., April 02, 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 Quantum Spatial, Inc. (“Quantum Spatial”), an NV5 company, has been selected as a prime consultant for a five-year, $40 million shoreline mapping support services contract contributing to the National Oceanic and Atmospheric Administration’s (NOAA) National Geodetic Survey. Quantum Spatial's expertise in the collection of topobathymetric LiDAR and the associated data analytics is a critical capability NOAA seeks to leverage as they continue to monitor coastal resources and ensure the safety of navigation.
Quantum Spatial is North America's leading provider of highly specialized topobathymetric LiDAR professional services. This contract is expected to include data acquisition, data processing, quality control, and data analytics. The firm has been providing topobathymetric LiDAR services to NOAA's National Geodetic Survey Remote Sensing Division since 2013.
“We are pleased to have been selected by NOAA for this project and proud of the long-term partnership that we have developed over the years,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Quantum Spatial continues its strong performance, and its application of leading-edge technology and technical expertise strengthen our leadership position in the geospatial solutions market.”
“This is the fourth consecutive contract awarded by NOAA's National Geodetic Survey to Quantum Spatial covering more than 20 years in support of its mission,” said Kurt Allen, Quantum Spatial's Vice President for Federal Programs. “A joint dedication by NOAA and Quantum Spatial for research and development and applying significant advancements in technology has allowed numerous stakeholders to utilize the near-shore bathymetric foundational data generated by the program.”
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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