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NV5 Selected to Provide Services in California and the Northeast for $10 Million

1016 Days ago

HOLLYWOOD, Fla., Sept. 18, 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 has been awarded $10 million in contracts to provide energy consulting, program management and construction quality assurance services for prestigious infrastructure and energy projects in California, New Jersey and Pennsylvania. 

“We continue to expand our geographic coverage, grow existing client relationships and acquire new customers by pursuing projects that are a good match for our proficiency in the delivery of high-value technical expertise,” said Dickerson Wright, PE, Chairman and CEO of NV5. “This proven approach makes NV5 a preferred choice for premiere projects and continues to drive our growth at a rate that exceeds the overall market and our competition.”

$6 million in fees were won as a result of NV5’s ENERGY 2021 initiative, which has sought to introduce new energy service offerings to NV5’s existing client base. One project includes the design of a boil-off compressor for Elizabethtown Gas in New Jersey, which will convert natural gas to Liquid Natural Gas (LNG) and allow for the safer and more efficient storage and shipment of natural gas products. NV5 will provide feasibility studies for a substation owned by a prominent California utility and perform land surveying for real estate and infrastructure assets throughout the utility’s service area.

NV5 was also awarded $4 million in program management and construction quality assurance contracts. The Pennsylvania Department of General Services selected NV5 to provide program management services for the rehabilitation and modernization of the Harrisburg Military Post, a National Guard armory complex located in Dauphin County. In California, NV5 was selected by a municipality in San Joaquin County to provide program management services for infrastructure projects throughout the community. NV5 was selected by the Irvine Ranch Water District (IRWD) to perform construction materials testing and inspection services. The IRWD provides potable water and sewer services to Irvine, California and surrounding communities.

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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