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NV5 Secures $3 Million Chief Building Official Contract Supporting ENERGY 2021 Initiative

1102 Days ago

HOLLYWOOD, Fla., June 24, 2019 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it was awarded a contract to provide Delegate Chief Building Official (DCBO) services on behalf of the California Energy Commission for the construction of the Stanton Energy Reliability Center owned by W Power, LLC in partnership with Wellhead Energy, LLC. The contract includes plan review, on-site building inspections, document control and worker safety monitoring and has an estimated value of $3 million over 16 months.

The Stanton Energy Reliability Center (SERC) is a state-of-the-art hybrid energy storage system that consists of two General Electric (GE) LM6000 based EGTs. In total, SERC will provide 98 MW (nominal) of hybrid energy storage capacity. Located in the City of Stanton, Orange County, California, SERC is one of the first green-field commercial applications of the EGT technology developed by Wellhead Power Solutions, LLC and is expected to combine dispatchable, operationally flexible and efficient energy generation to meet the need for new local capacity and reliability services in the West Los Angeles Basin.

“The success that we have seen in our ENERGY 2021 strategic initiative is a testament to the exceptional leadership and execution by our entire Energy group.  Our continued commitment to leveraging NV5’s collective capabilities and delivering exceptional technical expertise to our clients has allowed us to capitalize on opportunities like the SERC throughout California and across the country,” said Dickerson Wright, PE, Chairman and CEO of NV5.

“We are excited to be a part of this unique hybrid energy storage project that aims to deliver reliability services while maintaining a low carbon footprint,” said Shannon Hunter, Project Manager at NV5.

“The SERC project is groundbreaking because it provides a new method of electric reliability for the grid by leveraging battery storage to make power immediately available and environmentally friendly,” stated Kevin Wedman, Senior Vice President of Energy at NV5.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 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.

Forward-Looking Statements
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 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 Contact

NV5 Global, Inc.                                           
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com 

Source: NV5 Global, Inc.

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