NV5 Awarded $16 Million in California Utility Gas Pipeline Design and Support
April 25 2023 - 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 $16 million in
utility gas pipeline design and support services contracts by two
prominent California gas utilities. NV5 will provide engineering
design, plan review, permitting support, and municipal consulting
services for asset integrity management and pipeline improvements
to support the safe and reliable delivery of natural gas as
follows.
A large California gas utility selected NV5 for $9 million in
contracts to provide gas transmission design and pipeline support
services for system integrity management and capital replacement
projects. Under the scope of these agreements, NV5 will deliver
engineering design, project management, construction management,
traffic control, and permitting services to support the utility’s
safety enhancement programs.
NV5 was also awarded $7 million in design, municipal consulting,
and emergency services contracts by a major California gas and
electrical utility. NV5 will review proposed municipal and state
government infrastructure designs to identify potential conflicts
with utility assets and support negotiations to mitigate risks to
existing and proposed infrastructure. NV5 will also
provide support services for emergency gas repairs to comply with
municipal excavation permit requirements.
“Critical infrastructure to support transportation, water,
communication, and energy distribution forms an intricate system of
underground and above-ground assets and facilities with multiple
owners, stringent safety and reliability obligations, and complex
permitting requirements,” said Dickerson Wright, PE, Chairman and
CEO of NV5. “NV5’s expertise supporting all facets of
infrastructure for utilities, state governments, and municipal
clients mitigates costly delays in infrastructure improvements and
maintenance, while delivering a distinct competitive advantage for
NV5’s pursuit of infrastructure projects.”
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 & owner representation, 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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