NV5 Awarded $28 Million in Geospatial Contracts to Support…
NV5 Awarded $28 Million in Geospatial Contracts to Support U.S. Army Corps of Engineers and U.S. Geological Survey
HOLLYWOOD, Fla., Sept. 30, 2020 (GLOBE NEWSWIRE) — NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering consulting solutions, announced today that its subsidiary, Quantum Spatial, Inc. (“Quantum Spatial”), North America’s largest geospatial services firm, has been awarded contracts totaling $28 million to support the U.S. Army Corps of Engineers (USACE) and the U.S. Geological Survey’s (USGS) Earth Mapping Resources Initiative.
“We are pleased to apply our industry-leading geospatial technology and data analytics capabilities to support the large-scale infrastructure, environmental, and mapping needs of federal clients, ranging from the USGS to the Department of Defense,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Use of geospatial data continues to expand in all of our key markets, including federal agencies, state and local governments, and utilities and drives the long-term, sustainable growth of our geospatial services.”
NV5 was awarded a $22.7 million contract with the USACE St. Louis District Center of Expertise for Photogrammetric Mapping. This five-year contract builds upon a 20-year relationship that Quantum Spatial has established with the USACE. Services provided under this global contract include eGIS application development and data management, utility asset collection, and the collection and processing of lidar and topobathymetric data, to support the U.S. Army Geospatial Center, the U.S. Army National Guard, and the U.S. Army Reserve.
NV5 was also awarded a $5.2 million task order to support the USGS Earth Mapping Resources Initiative. The project includes the collection of 24,758 square miles of airborne lidar data to examine the regional topography and geology of Western Nevada and provide insights into the geothermal and mineral resource potential of the region. Data collected by NV5 will also support the U.S. Department of Energy, Federal Emergency Management Agency, Bureau of Land Management, and Natural Resources Conservation Service.
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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