Northeast Utility Selects NV5 for $25 Million LNG Infrastructure Upgrade
NV5 Global, Inc. (Nasdaq: NVEE) has secured a $25 million contract for the engineering, procurement, and installation of a new LNG vaporization system for a Northeast utility. The project aims to enhance storage capacity and reliability and will be completed by Q4 2023, with the design phase currently underway. CEO Dickerson Wright emphasized the importance of utility safety and reliability in driving NV5's business, anticipating continued investments as utilities modernize infrastructure.
- Awarded $25 million contract to enhance LNG system for a utility.
- Project aims to improve gas service reliability and operational flexibility.
- Design phase currently active, with completion expected in Q4 2023.
- None.
HOLLYWOOD, Fla., May 26, 2022 (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
The design phase of the 20-month project is underway, and final delivery of the new vaporization system is expected to be completed in the fourth quarter of 2023.
“We are pleased to have been selected for this LNG vaporization project and to assist our utility client with the reliable delivery of gas service,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Utility safety and reliability are significant drivers of NV5’s business, and we anticipate continued client investments as utilities work to modernize the nation’s aging electrical and gas infrastructure.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company’s services include multiple verticals such as testing, inspection & consulting, infrastructure, utility services, buildings & program management, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. 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 LinkedIn, Twitter, Facebook, and Instagram.
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: ir@nv5.com
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