NV5 Awarded $11 million in Utility Undergrounding, Battery Storage, and Distribution Reliability Contracts
HOLLYWOOD, Fla., July 25, 2023 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), announced today that it has been awarded $11 million in contracts to support the safety and reliability of electrical utility distribution. NV5 will provide engineering design, electrical engineering, surveying, and owner’s engineer services for these projects to harden the electrical grid and improve electrical service reliability.
In the Pacific Northwest, NV5 was selected for $9.4 million in utility hardening and grid connectivity projects. NV5 will provide owner’s engineering and utility design services for the underground conversion of approximately 34 miles of power lines. NV5 will also deliver electrical, structural, and civil engineering services to support the interconnection of battery storage systems, utility substations, and solar power generation.
A utility in California also selected NV5 for a $1.5 million geospatial corridor mapping project for a 48-mile utility corridor. NV5 will derive planimetric and topographic data from lidar and imagery to provide engineering grade data for engineers to re-route a major transmission line.
“Utilities turn to NV5 for engineering and technology solutions to support the safe and reliable delivery of electricity to their customers, and we are pleased to have been selected for these important projects,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5 continues to pioneer innovative approaches to utility undergrounding, fire hardening, and asset management that provide a competitive advantage when pursuing new projects and continue to fuel NV5’s utility services growth.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: construction quality assurance, infrastructure engineering, utility services, buildings & technology, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on LinkedIn, Twitter, Facebook, and Instagram.
About Axim Geospatial, an NV5 Company
Axim uses its geospatial expertise to provide clarity and solutions to help customers solve the world’s national security, infrastructure, and environmental problems. We provide end-to-end geospatial services and solutions throughout the U.S, serving the communities in which we live. Our core competencies include big data services, geomatics, business solutions, cloud services, infrastructure security, analytics, and professional services. Our customers include national, state, and local government, defense and intelligence, infrastructure, energy, commercial and environmental customers. http://www.aximgeo.com.
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.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com
