HOLLYWOOD, Fla.- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering, geospatial, and consulting solutions, announced today that Quantum Spatial, Inc. (“Quantum Spatial”), an NV5 company, was awarded a $4.6 million contract extension by one of North America’s largest power utilities to support its data-driven vegetation management program. Lidar surveys have already begun under the contract to identify the location and health of trees that could potentially strike high-voltage lines. Analysis of the lidar surveys and hyperspectral imagery will help to guide long-term vegetation and asset management work planning, including to mitigate fire risks and utility service interruptions.
“NV5’s geospatial and utility services businesses continue to drive growth through the support of fire mitigation and reliability initiatives for utilities across the country,” said Dickerson Wright, PE, Chairman and CEO of NV5. “We have seen an increase in the demand for our specialized geospatial data analytics, utility engineering design, and power compliance services, and we are proud to support our clients as they improve safety and service delivery for their customers.”
“Advancements in geospatial survey technology and analytics enable us to accurately and efficiently assess risks to high-voltage transmission systems, helping our clients to deliver reliable service and meet North American Electric Reliability Corporation (NERC) requirements,” said Eric Merten, Vice President and General Manager at Quantum Spatial.
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering, geospatial, and consulting solutions ranked #27 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, utility services, program management, and environmental solutions, and delivers geospatial services through its subsidiary Quantum Spatial, Inc., the largest full-service geospatial solutions provider in North America. 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 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.