NV5 Announces Fire Mitigation Contracts totaling $28 Million
HOLLYWOOD, Fla., Nov. 26, 2018 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq: NVEE) (“NV5” or the “Company”), a professional engineering and consulting solutions provider, announced today that it has been awarded a contract amendment with a Southern California utility for $6 million. The new contract brings NV5’s total awarded fire hardening contracts to $28 million over the past two years. The amended contract, which begins immediately and adds to the Company’s ongoing work, addresses risk by modernizing the utility’s electric system infrastructure in fire prone areas.
Investor and municipal-owned utilities have responded to the increasing threat of wildfires in the West by making fire hardening and fire risk mitigation top priorities. NV5 has observed this increased focus firsthand and is well positioned to support mitigation and response activities. In addition to the fire hardening work in Southern California, NV5 recently began working with strategic partners to support utilities impacted by fires in Northern California. NV5 employees have also volunteered with California’s Office of Emergency Services (Cal OES) and American Society of Civil Engineers (ASCE) to help communities impacted by the devastating Camp Fire.
“Our clients are charged with safely delivering energy to their customers and must enhance their infrastructure to withstand extreme weather conditions,” said Doug Taft, Director of Power Delivery at NV5. “Since 2014, our clients have counted on NV5’s fire hardening experience and multidisciplinary capabilities to efficiently execute their mitigation plans, improve reliability, and enable them to respond to their customers’ needs.”
Dickerson Wright, PE, Chairman and CEO of NV5 said, “Utility fire hardening programs combine two of NV5’s strengths: power delivery engineering and disaster preparation, response, and recovery services. These projects also utilize all of NV5’s five verticals and demonstrate the added value our combined services provide to our clients and our communities.”
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 nationwide and abroad in Macau, Hong Kong, and the UAE. 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.
NV5 Global, Inc. Jenna CarrickInvestor Relations ManagerTel: +1-916-641-9124Email: email@example.com