NV5 Awarded $7 Million for Electrical Transmission Undergrounding in Northern California

HOLLYWOOD, Fla., July 15, 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 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 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.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: [email protected]

Source: NV5 Global, Inc.

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