NV5 Awarded $14 Million in Utility Geospatial Asset and Vegetation Management Contracts
HOLLYWOOD, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- 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.
- HOLLYWOOD, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- 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 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.