NV5 Awarded $9 Million Geospatial Vegetation Management Contract by Northern California Utility
December 12 2023 - 7:00AM
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
www.NV5.com. Also visit the Company
on Twitter, LinkedIn, Facebook, and Vimeo.
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 CochranVice President, Marketing &
Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com
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