NV5 Awarded $18 Million in Power Utility Engineering Contracts
HOLLYWOOD, Fla., March 28, 2019 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (NASDAQ: NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, announced today that it was awarded new contracts totaling $18 million for municipal utilities located in the western US.
The contracts, which consist of approximately $12 million in fees for electric transmission services and $5 million in fees for gas transmission technical services, are effective immediately and add to the Company’s ongoing work. Through the contracts, NV5 will continue to provide support on capital improvement, operation and maintenance, and energy efficiency projects, as well as emergency response initiatives. The comprehensive master services agreements include engineering and design services, and geotechnical, water resources, structural, survey, and UAV-LiDAR services.
NV5 will also provide over $700,000 in engineering and construction support services for critical electrical infrastructure projects, including substations, overhead distribution pole replacements and wire upgrades (re-conductors), underground vault refurbishment and replacements, physical security improvements, geotechnical reports and environmental assessments.
Dickerson Wright, PE, Chairman and CEO of NV5, said, “NV5’s ENERGY 2021 initiative, which partners our infrastructure power and energy teams, allows us to provide a diverse range of in-house services while adding value to our clients. NV5 is able to minimize the use of multiple consultants, streamline projects, and maximize our clients’ capital budgets.”
“The ENERGY 2021 initiative also allows us to have tighter controls on the quality, schedule, and budget of large capital projects,” added Doug Taft, Senior Vice President of Power Delivery for NV5. “Delivering projects on time and within budget builds trust with our clients and results in stronger relationships. The volume of additional work we continue to receive from our clients is a testimony to the quality of our work.”
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #45 in the Engineering News Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This 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 press 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.
Contact NV5 Global, Inc. Jenna Carrick Investor Relations Manager Tel: +1-916-641-9124 Email: email@example.com