NV5 Awarded $10 Million in Infrastructure Contracts in Florida and New York

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) has secured approximately $10 million in infrastructure projects across Florida and New York. The Florida Department of Transportation awarded a five-year contract for geotechnical engineering and materials testing across the Florida Turnpike. In New York, NV5 will provide engineering design services for the Hunts Point Peninsula, enhancing access to a major food distribution hub. The company also received a one-year contract for resident engineering inspection services in Brooklyn. These contracts underscore NV5's commitment to supporting community infrastructure.

Positive

• Secured $10 million in contracts for infrastructure projects, bolstering revenue.
• Awarded a five-year contract by Florida Department of Transportation for geotechnical engineering.
• Selected for a three-year contract to improve access to Hunts Point Peninsula, a key distribution site.
• Additional contract for resident engineering inspection services in Brooklyn, diversifying project portfolio.

Negative

• None.

HOLLYWOOD, Fla., April 14, 2021 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of compliance, technology, and engineering solutions, announced today that it has been awarded approximately $10 million in infrastructure projects in Florida and New York. NV5 will provide engineering design, construction inspection, geotechnical engineering, and materials testing to support transportation, sewer, and water delivery improvements.  

The Florida Department of Transportation awarded NV5 a five-year contract to provide geotechnical engineering and materials testing services. The scope of the contract covers sections throughout the 260-mile span of the Florida Turnpike. Services will be provided by multiple NV5 offices throughout the state.

In New York, NV5 was selected for a three-year contract to provide engineering design services to improve interstate access to the Hunts Point Peninsula in the Bronx, home to the largest food distribution facility in the United States.   NV5’s responsibilities include utility design for all sewer, water main, and private utilities, design of the multi-use path, and development of the required environmental permitting plans.

NV5 was also awarded a one-year contract by the New York City Department of Design and Construction to provide resident engineering inspection services for sewer and water main work in Park Place between Underhill Avenue and Flatbush Avenue and other locations in Brooklyn.  

“We are pleased to contribute our technical expertise to support the communities in which we live and work,” said Dickerson Wright, PE, Chairman and CEO of NV5. “From food and water distribution, to safe and efficient roads, infrastructure improvements are essential to support economic growth and public well-being.”

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a 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.

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.