NV5 Awarded $13 Million in Geospatial Contracts to Support California Wildfire Mitigation
August 11 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 two contracts
by the University of California (UCSD) and the U.S. Geological
Survey (USGS) totaling $13 million to support wildfire studies and
mitigation efforts in California.
“The frequency and severity of wildfires in the West continues
to grow, and NV5 is the industry leader in geospatial and
engineering services to support wildfire mitigation efforts for
utilities, government entities, and wildfire response programs,”
said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5’s
geospatial topographical analysis, vegetation management, power
line undergrounding design, and fire hardening design services
provide invaluable tools in our clients’ efforts to reduce the
number of wildfires and minimize their impacts.”
UCSD selected NV5 for a $6 million contract to acquire
topographic lidar and multi-spectral imagery covering 13,269 square
miles of the North Sierra Mountain Range. This is the first of a
three-phase program envisioned by UCSD in support of its
ALERTWildfire Program providing geospatial data that will be used
to address significant fire threats throughout the state of
California.
USGS awarded NV5 a two-year, $7 million contract to acquire and
process 16,851 square miles of topographic lidar data in
California’s South Sierra Mountain Range in support of the USGS 3D
Elevation Program (3DEP). This multi-agency funding partnership
includes UCSD, the United States Forest Service (USFS), the
National Resources and Conservation Service (NRCS), and the
California Natural Resources Agency (CNRA). Geospatial data from
the program will support a variety of applications with a primary
focus on providing highly accurate topographic data critical to
wildfire studies.
About NV5NV5 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, testing, inspection & consulting,
buildings & program management, environmental health sciences,
and geospatial technology 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 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
Source: NV5 Global, Inc.
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