NV5 Awarded $11 million in Utility Undergrounding, Battery Storage, and Distribution Reliability Contracts
July 25 2023 - 7:00AM
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 NV5NV5 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 CompanyAxim 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 StatementsThis 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 CochranVice President, Marketing &
Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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