NV5 Awarded Over $60 Million LNG Utility Upgrade
November 01 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
a contract valued at over $60 million by a prominent Eastern US
utility to provide engineering, procurement, and installation of a
liquefied natural gas (LNG) facility upgrade. The project involves
the replacement and upgrade of existing LNG process systems to
improve the safety, reliability, and overall capabilities of the
facility.
The three-year project is expected to be completed in 2025, and
engineering design of the new process systems is underway. The
renovation will also increase the system’s liquefication capacity
to assist in natural gas storage and availability during times of
peak demand.
“The investments being made by our domestic natural gas utility
clients demonstrates their continued commitment to providing
efficient and reliable supply of natural gas to their customers,”
said Dickerson Wright, PE, Chairman and CEO of NV5. “As a leading
designer of liquefication systems for utilities, NV5 is
well-positioned to support the growing demand for new and
retrofitted LNG systems.”
“The NV5 LNG and Natural Gas group has been providing
consulting, engineering, procurement, and installation services to
the natural gas industry since 1978, making it uniquely qualified
to execute these projects for our clients,” said Peter Dirksen, PE,
President of NV5 LNG Services.
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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