Asian Surveying & Mapping
Breaking News
Launch of Australia’s 1st orbital rocket, Gilmour Space’s Eris-1, delayed again
Update for 6:15 p.m. ET on July 1: Gilmour Space...
SAASST, UAE Space Agency strengthen scientific partnership
SHARJAH- Prof. Hamid M.K. Al Naimiy, Director of the...
Shubhanshu Shukla to speak to students and ISRO scientists this Friday
Indian astronaut Shubhanshu Shukla will interact with school students...
ISRO hands over 10 advanced technologies to Indian firms in major push for space commercialisation
The Indian Space Research Organisation (ISRO) has transferred ten...
DIGIPIN Launched: India Embraces Geospatial Precision in Digital Addressing
IIT Hyderabad (IITH), in partnership with the Department of...
HAL to build, market Isro’s SSLV in landmark deal
New Delhi, Jun 20: In a historic move for...
Taiwan developing space capabilities for all-weather imaging
TAIPEI (TVBS News) — Taiwan is advancing its space...
Honda hails successful test of reusable rocket as it looks to get into the space business
Tokyo — Japan's second-biggest carmaker, Honda, has successfully tested...
China’s space program provides larger platform for broader international cooperation
BEIJING -- Experts from China's manned space program said...
India To Launch $1.5 Billion Joint Earth Mission With NASA In July
National Aeronautics and Space Administration (NASA) and the Indian...

June 4th, 2024
NV5 Awarded $14 Million in Utility Geospatial Asset and Vegetation Management Contracts

HOLLYWOOD, Fla.- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded $14 million in contract wins by utilities to support asset management and vegetation management of electrical transmission and distribution grid infrastructure.

Increasing demand for electricity without investments in new electrical generation places additional reliability and efficiency requirements on the aging electrical grid. NV5’s geospatial data acquisition technologies, predictive analytics, proprietary algorithms, and engineering design methodologies make it uniquely qualified to assess potential hazards and reliability challenges in utility grid assets.

“Electrification initiatives and the expansion of energy-intensive facilities such as data centers have put unprecedented capacity requirements on the nation’s electrical grid,” said Dickerson Wright, PE, Executive Chairman of NV5. “NV5 scans approximately 100,000 miles of utility transmission and distribution lines each year to assist utilities with meeting the growing demand for electrical service, and the increased adoption of geospatial data for utility infrastructure improvements continues to accelerate organic growth in NV5’s utility geospatial segment.”

A prominent West Coast utility selected NV5 for a one-year, $7 million contract to deliver lidar and imagery for the utility’s asset management and engineering program. The scope of the project includes electrical transmission infrastructure across numerous terrains throughout the utility’s service area.

NV5 was also selected for $7 million of geospatial asset management and electrical distribution infrastructure inspection services. NV5 will identify distribution assets and vegetation encroachments to mitigate fire risks and support service safety and reliability.

About NV5

NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and internationally. 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.