NV5 Awarded $7 Million for Electrical Transmission Undergrounding in Northern California
15 July 2024 - 10:00PM
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 a one-year, $7
million contract to provide project oversight, testing, and
inspection during the construction of a new 230 kilovolt
underground transmission line in Northern California.
“The demand for electricity and the strain on the nation’s
electrical grid infrastructure is growing due to electrification
initiatives and expansion of high-energy facilities, such as data
centers,” said Dickerson Wright, PE, Executive Chairman of NV5.
“NV5’s industry-leading expertise in electrical grid reliability is
in high demand, and we are well-positioned to drive accelerated
organic growth in our utility services business.”
NV5 completed the undergrounding design of the new transmission
line earlier in the year and is now delivering construction
oversight and support on behalf of the utility during the
construction phase. NV5 will collaborate with cable manufacturers
and electrical contractors throughout the installation and will
provide cable testing and commissioning to ensure the new line is
deployed efficiently to meet interconnection and capacity
demands.
About NV5NV5 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 StatementsThis 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 ContactNV5 Global, Inc.Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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