NV5 Awarded $10 Million Geospatial Forest Resource Management Contract

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NV5 Global, Inc. has been awarded a $10 million contract by the United States Geological Survey (USGS) for geospatial lidar data collection and processing. The two-year project will support forest resource management in Oregon and Washington state. The project is jointly funded by USGS and the U.S. Forest Service and is expected to be completed in September 2025.

HOLLYWOOD, Fla., Oct. 03, 2023 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, today announced that it has been selected by United States Geological Survey (USGS) for a $10 million contract to perform geospatial lidar data collection and processing of 28,359 square miles in Oregon and Washington state as part of the USGS 3D Elevation Program (3DEP). The project will support forest resource management and is jointly funded by USGS and the U.S. Forest Service Geospatial Technology and Applications Center of the U.S. Department of Agriculture.

The two-year project includes leaf-on lidar data collection in the fall and spring and is expected to be completed in September 2025.

“The application of geospatial data in the management of natural resources continues to grow, and we are pleased to support forestry management efforts of the USGS and U.S. Forest Service,” said Dickerson Wright, PE, Chairman and CEO of NV5. “NV5 has served the USGS for over 25 years, and we look forward to continuing our support of the USGS’ 3DEP mission to achieve high resolution elevation data for all of the United States and its territories.”

“We are proud of our long-standing relationship with the USGS and NV5’s contributions to the 3DEP program,” said Dan Levine, President of Geospatial at NV5.

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, testing, inspection & consulting, buildings & technology, environmental health sciences, and geospatial 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.

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

Source: NV5 Global, Inc.