NV5 Awarded $13 Million Clean Energy and Energy Efficiency Contracts

HOLLYWOOD, Fla., May 25, 2023 (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 $13 million in clean energy and energy efficiency contracts by government agencies and utility clients. NV5 will provide consulting, owner representation, and inspection services to support energy savings, renewable energy conversion, and energy efficiency initiatives for clients as follows.

The Defense Logistics Agency awarded NV5 a five-year, $6 million contract to decarbonize and improve the resilience of Department of Defense installations and other Federal facilities around the world.

NV5 was also awarded a three-year, $5 million contract by the Massachusetts Department of Energy Resources to provide technical consulting services for the development of new residential, multifamily, and industrial energy efficiency programs.

In California, San Rafael City Schools selected NV5 for a $1.3 million owner representation and special inspections contract to support a district-wide solar photovoltaic conversion project. NV5 was also selected by an electrical utility in New Jersey to provide $1.1 million in program design services for electric and gas energy efficiency and demand response programs.

“The transition to cleaner forms of energy and more efficient use of that energy results in reduced emissions, cost savings, and increased resilience of the electrical grid, and NV5 is pleased to contribute to our clients’ clean energy conversion,” said Dickerson Wright, PE, Chairman and CEO of NV5. “As part of our focus on technology services, clean energy and energy efficiency are some of NV5’s fastest-growing offerings, and we anticipate that the market for these services will continue to accelerate as regulatory requirements, supply chain pressures, and corporate social responsibility drive demand.”

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 & 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.