NV5 Awarded $8 Million LNG Upgrade Contract by Northeast Utility
HOLLYWOOD, Fla., Nov. 19, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that it has been selected to provide $8 million in engineering, procurement, and construction (EPC) services to upgrade a liquefied natural gas (LNG) facility owned and operated by a Northeast utility. The improvements are part of a multi-phase project, and NV5 was previously awarded the engineering and design for the upgrade. The updated facility will increase the safety, efficiency, and reliability of the gas supply to the utility’s service area.
“We have seen significant growth in this sector as we support utility investments to modernize the electrical grid and gas distribution infrastructure and improve the reliability and safety of transmission and distribution,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5’s expertise in engineering design, inspection, quality assurance, and geospatial solutions for the utility industry provides a turnkey solution for our clients and a competitive advantage for our Utility Services vertical.”
“We are pleased to contribute to the reliable delivery of natural gas to our utility clients’ service areas through improvements to the safety and efficiency of their liquefaction and other plant systems,” said Peter Dirksen, PE, President of NV5 LNG Services.
NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of compliance, technology, and engineering consulting solutions for public and private sector clients supporting infrastructure, utility, and building assets and systems. The Company primarily focuses on six business verticals: testing, inspection & consulting, infrastructure support services, utility services, buildings & program management, environmental health sciences, and geospatial technology services. NV5 operates out of more than 100 offices nationwide and abroad. 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.
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