Midwest Utility Selects NV5 for $39 Million Contract to Upgrade LNG Infrastructure
January 17 2022 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of compliance, technology, engineering,
and environmental consulting solutions, announced today that it has
been awarded a $39 million contract to upgrade the liquefaction
facilities at a major Midwest utility’s liquefied natural gas (LNG)
facility. NV5 will provide engineering, procurement, construction
management, and commissioning services for the replacement of the
facility’s aging liquefier. The upgrade includes a new pretreatment
system, liquefier, electrical gear, refrigerant storage, and
control system. The new liquefaction system will improve
reliability, provide the ability to control ethane concentrations
in the LNG, and deliver additional operational flexibility. The
project is already underway and is expected to be completed in
spring 2024.
“We are pleased to have been selected for this project which
will assist our utility client in delivering safe and reliable gas
service to its customers,” said Dickerson Wright, PE, Chairman and
CEO of NV5. “The reliability of liquefaction facilities is
essential due to regulatory requirements and customer demands, and
utility investments in upgrades to aging LNG equipment continue to
be a driver of our LNG business.”
“Modernization of aging LNG equipment improves service
reliability and reduces ongoing maintenance costs, and we are proud
to contribute to the safe and dependable delivery of natural gas
service,” said Peter Dirksen, PE, President of NV5 LNG
Services.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of compliance, technology, engineering, and environmental
consulting solutions for public and private sector clients
supporting sustainable infrastructure, utility, and building assets
and systems. The Company focuses on multiple verticals: testing,
inspection & consulting, infrastructure, utility services,
buildings & program management, 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.
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 ContactNV5 Global, Inc.Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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