NV5 Selected by Midwest Utility for $8 Million Geospatial Vegetation Management Contracts
January 25 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 contracts exceeding $8 million by a Midwest electric
utility to acquire lidar data and provide remote sensing analytics
across the utility’s entire distribution system to mitigate risk of
vegetation-related outages.
NV5’s lidar and remote sensing analytics solutions
identify and map the locations and severity of encroaching
vegetation, allowing the utility to optimize its vegetation
management plans. NV5’s data and analytics will be used to define
the utility’s 2022 and 2023 forestry management requirements.
“Trees and storms are the leading cause of
electrical service interruption, and the use of geospatial data
analytics in identifying risks that vegetation poses to utility
safety and service reliability is essential,” said Dickerson
Wright, PE, Chairman and CEO of NV5. “NV5’s advanced geospatial
solutions help utilities identify vegetation encroachment, forecast
operational costs, and mitigate service interruptions while
continuing to contribute to safe and reliable electricity delivery
for our client’s customers.”
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’s services include
multiple verticals such as 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
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Jul 2024 to Jul 2024
NV5 Global (NASDAQ:NVEE)
Historical Stock Chart
From Jul 2023 to Jul 2024