NV5 Awarded $8 Million in Federal and State Geospatial Projects
May 24 2022 - 8:00AM
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
$8 million in recent contracts to provide geospatial data
acquisition and data analytics services to support infrastructure,
utility, and natural resource assets for public sector clients.
NV5 was awarded two contracts totaling over $4 million to
support the US Geological Survey’s 3D Elevation Program in Kentucky
and Wisconsin. The 3D Elevation Program’s mission is to provide
topographic data and three-dimensional representations of the
Nation’s natural and constructed features.
The US Army Corps of Engineers selected NV5 for a $2 million
task order to support the US Army Reserve’s Installation Geospatial
Information Services program (IGI&S). The IGI&S program
provides a unified approach for the creation, maintenance,
management, and delivery of military installation geospatial
data.
NV5 was also awarded a $2 million task order to support a
federally owned electric utility’s ongoing right-of-way program.
NV5’s contributions include the collection & analysis of
geospatial data of the utility’s bulk electric transmission system,
providing the utility with a data-driven approach to managing risk
while providing safe and reliable power to customers across the
region.
“Scalable technology-based service offerings, such as geospatial
solutions, continue to grow as a proportion of NV5’s revenue, and
these contracts represent the recurring nature and continuation of
services afforded by our technology services,” said Dickerson
Wright, PE, Chairman and CEO of NV5. “As the leader in geospatial
data analytics to support infrastructure, utility, natural
resources, and water resources, NV5 provides new and unique
insights to help clients make informed asset and resource
management decisions.”
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’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
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